Registered number
03690487
G T Partners Ltd.
Filleted Accounts
31 December 2024
G T Partners Ltd.
Registered number: 03690487
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets as investments 3 33,326 28,741
Other tangible assets 4 225,617 227,228
258,943 255,969
Current assets
Debtors 5 59,037 56,840
Cash at bank and in hand 138,703 122,905
197,740 179,745
Creditors: amounts falling due within one year 6 (27,776) (19,393)
Net current assets 169,964 160,352
Total assets less current liabilities 428,907 416,321
Creditors: amounts falling due after more than one year 7 (114,807) (123,490)
Net assets 314,100 292,831
Capital and reserves
Called up share capital 10 10
Profit and loss account 314,090 292,821
Shareholder's funds 314,100 292,831
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The company has two outstanding charges registered with Lloyds Bank plc, against the property asset shown on the balance sheet.
Christopher George White
Director
Approved by the board on 3 April 2025
G T Partners Ltd.
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Nil
Artwork 10% straight line
Plant and machinery 15% reducing balance and 20% straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets as investments £
Artwork:
Cost
At 1 January 2024 145,267
Additions 10,692
At 31 December 2024 155,959
Amortisation
At 1 January 2024 116,526
Provided during the year 6,107
At 31 December 2024 122,633
Net book value
At 31 December 2024 33,326
At 31 December 2023 28,741
Artwork is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Other tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 220,941 10,951 25,244 257,136
At 31 December 2024 220,941 10,951 25,244 257,136
Depreciation
At 1 January 2024 - 8,503 21,405 29,908
Charge for the year - 651 960 1,611
At 31 December 2024 - 9,154 22,365 31,519
Net book value
At 31 December 2024 220,941 1,797 2,879 225,617
At 31 December 2023 220,941 2,448 3,839 227,228
5 Debtors 2024 2023
£ £
Trade debtors 17,445 10,906
Other debtors 41,592 45,934
59,037 56,840
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,119 708
Taxation and social security costs 26,337 18,365
Other creditors 320 320
27,776 19,393
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 114,807 123,490
8 Controlling party
The ultimate controlling party is Christopher White, who owns 100% of the shareholding in the company.
9 Other information
G T Partners Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
353 Roman Road
Ground Floor Shop
Bethnal Green
London
E3 5QR
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