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Registration number: 09005913

CT GFX Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

CT GFX Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

CT GFX Ltd

Company Information

Director

Mr C D Tooth

Registered office

Chestnut End
Leddington
Ledbury
Herefordshire
HR8 2LG

Accountants

R M Willgoose, Chartered Accountant Chestnut End
Leddington
Ledbury
Herefordshire
HR8 2LG

 

CT GFX Ltd

(Registration number: 09005913)
Balance Sheet as at 31 July 2024

Note

31 July
2024
£

31 July
2023
£

Fixed assets

 

Tangible assets

4

10,645

12,183

Current assets

 

Debtors

5

2,457

3,897

Cash at bank and in hand

 

60,588

56,334

 

63,045

60,231

Creditors: Amounts falling due within one year

6

(13,763)

(7,535)

Net current assets

 

49,282

52,696

Total assets less current liabilities

 

59,927

64,879

Provisions for liabilities

(2,022)

(1,978)

Net assets

 

57,905

62,901

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

57,805

62,801

Shareholders' funds

 

57,905

62,901

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 April 2025
 

.........................................
Mr C D Tooth
Director

 

CT GFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Chestnut End
Leddington
Ledbury
Herefordshire
HR8 2LG

These financial statements were authorised for issue by the director on 17 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

CT GFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Other vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

CT GFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

11,469

16,995

28,464

Additions

2,011

-

2,011

At 31 July 2024

13,480

16,995

30,475

Depreciation

At 1 August 2023

5,893

10,388

16,281

Charge for the year

1,897

1,652

3,549

At 31 July 2024

7,790

12,040

19,830

Carrying amount

At 31 July 2024

5,690

4,955

10,645

At 31 July 2023

5,576

6,607

12,183

5

Debtors

Current

31 July
2024
£

31 July
2023
£

Trade debtors

375

-

Prepayments

763

576

Other debtors

1,319

3,321

 

2,457

3,897

 

CT GFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

31 July
2024
£

31 July
2023
£

Due within one year

Taxation and social security

8,429

1,839

Accruals and deferred income

1,392

1,222

Other creditors

3,942

4,474

13,763

7,535

7

Share capital

Allotted, called up and fully paid shares

31 July
2024

31 July
2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Dividends

31 July
2024

31 July
2023

£

£

Interim dividend of £210.00 (2023 - £10.00) per ordinary share

21,000

1,000

 

 

9

Related party transactions

 

CT GFX Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,000

24,000