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REGISTERED NUMBER: 04524350 (England and Wales)















GTEK (HOLDINGS) LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2024






GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GTEK (HOLDINGS) LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr S Keith



SECRETARY: Mr S Keith



REGISTERED OFFICE: The Counting House
61 Charlotte Street
Birmingham
West Midlands
B3 1PX



REGISTERED NUMBER: 04524350 (England and Wales)



ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX



BANKERS: HSBC UK Bank Plc
5-6 High St
Harry Weston Road
Coventry
CV1 5RE

GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 554,943 649,176
Investments 5 - 260,000
554,943 909,176

CURRENT ASSETS
Debtors 6 490,395 623,497
Cash at bank and in hand 2,647,460 2,527,569
3,137,855 3,151,066
CREDITORS
Amounts falling due within one year 7 116,501 457,230
NET CURRENT ASSETS 3,021,354 2,693,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,576,297

3,603,012

PROVISIONS FOR LIABILITIES 99,879 128,598
NET ASSETS 3,476,418 3,474,414

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,476,318 3,474,314
SHAREHOLDERS' FUNDS 3,476,418 3,474,414

GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





Mr S Keith - Director


GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Gtek (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company only enters into basis financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans from related parties.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 1,505,068 264,698 1,769,766
Additions 9,240 119,545 128,785
Disposals - (100,376 ) (100,376 )
At 31 December 2024 1,514,308 283,867 1,798,175
DEPRECIATION
At 1 January 2024 1,028,359 92,231 1,120,590
Charge for year 119,204 53,196 172,400
Eliminated on disposal - (49,758 ) (49,758 )
At 31 December 2024 1,147,563 95,669 1,243,232
NET BOOK VALUE
At 31 December 2024 366,745 188,198 554,943
At 31 December 2023 476,709 172,467 649,176

The net book value of tangible fixed assets includes £NIL (2023 - £ 150,679 ) in respect of assets held under hire purchase contracts.

GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024 260,000
Disposals (260,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 260,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests 282,281 388,394
Other debtors 36,840 36,824
Directors' current accounts 171,274 198,279
490,395 623,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 24,670
Trade creditors 5,895 -
Amounts owed to participating interests - 335,754
Social security and other taxes 91,120 71,143
Other creditors 5,986 5,986
Accrued expenses 13,500 19,677
116,501 457,230

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 24,670

GTEK (HOLDINGS) LIMITED (REGISTERED NUMBER: 04524350)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr S Keith
Balance outstanding at start of year 198,279 104,807
Amounts advanced 68,896 366,375
Amounts repaid (95,901 ) (272,903 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 171,274 198,279

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Keith.