Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-316false62023-11-01falseSale and repair of garden tools and equipmenttruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12982399 2023-11-01 2024-10-31 12982399 2022-11-01 2023-10-31 12982399 2024-10-31 12982399 2023-10-31 12982399 2022-11-01 12982399 c:Director1 2023-11-01 2024-10-31 12982399 c:Director2 2023-11-01 2024-10-31 12982399 c:Director3 2023-11-01 2024-10-31 12982399 c:RegisteredOffice 2023-11-01 2024-10-31 12982399 d:PlantMachinery 2023-11-01 2024-10-31 12982399 d:PlantMachinery 2024-10-31 12982399 d:PlantMachinery 2023-10-31 12982399 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12982399 d:MotorVehicles 2023-11-01 2024-10-31 12982399 d:MotorVehicles 2024-10-31 12982399 d:MotorVehicles 2023-10-31 12982399 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12982399 d:FurnitureFittings 2023-11-01 2024-10-31 12982399 d:FurnitureFittings 2024-10-31 12982399 d:FurnitureFittings 2023-10-31 12982399 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12982399 d:OfficeEquipment 2023-11-01 2024-10-31 12982399 d:OfficeEquipment 2024-10-31 12982399 d:OfficeEquipment 2023-10-31 12982399 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12982399 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12982399 d:CurrentFinancialInstruments 2024-10-31 12982399 d:CurrentFinancialInstruments 2023-10-31 12982399 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 12982399 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12982399 d:ShareCapital 2023-11-01 2024-10-31 12982399 d:ShareCapital 2024-10-31 12982399 d:ShareCapital 2022-11-01 2023-10-31 12982399 d:ShareCapital 2023-10-31 12982399 d:ShareCapital 2022-11-01 12982399 d:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 12982399 d:RetainedEarningsAccumulatedLosses 2024-10-31 12982399 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 12982399 d:RetainedEarningsAccumulatedLosses 2023-10-31 12982399 d:RetainedEarningsAccumulatedLosses 2022-11-01 12982399 c:OrdinaryShareClass1 2023-11-01 2024-10-31 12982399 c:OrdinaryShareClass1 2024-10-31 12982399 c:OrdinaryShareClass1 2023-10-31 12982399 c:OrdinaryShareClass2 2023-11-01 2024-10-31 12982399 c:OrdinaryShareClass2 2024-10-31 12982399 c:OrdinaryShareClass2 2023-10-31 12982399 c:OrdinaryShareClass3 2023-11-01 2024-10-31 12982399 c:OrdinaryShareClass3 2024-10-31 12982399 c:OrdinaryShareClass3 2023-10-31 12982399 c:FRS102 2023-11-01 2024-10-31 12982399 c:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 12982399 c:FullAccounts 2023-11-01 2024-10-31 12982399 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12982399 2 2023-11-01 2024-10-31 12982399 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12982399









GTE DEREHAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
GTE DEREHAM LIMITED
 
 
COMPANY INFORMATION


Directors
Chris Waterman 
Mrs Emily E Taylor 
John R Waterman 




Registered number
12982399



Registered office
27 Yaxham Road

Dereham

Norfolk

NR19 1HD




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
GTE DEREHAM LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Statement of Changes in Equity
 
4 - 5
Notes to the Financial Statements
 
6 - 10


 
GTE DEREHAM LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GTE DEREHAM LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GTE Dereham Limited for the year ended 31 October 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of GTE Dereham Limited, as a body, in accordance with the terms of our engagement letter dated 26 February 2025Our work has been undertaken solely to prepare for your approval the financial statements of GTE Dereham Limited and state those matters that we have agreed to state to the Board of Directors of GTE Dereham Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GTE Dereham Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that GTE Dereham Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GTE Dereham Limited. You consider that GTE Dereham Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GTE Dereham Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
14 April 2025
Page 1

 
GTE DEREHAM LIMITED
REGISTERED NUMBER: 12982399

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,047
9,114

  
18,047
9,114

Current assets
  

Stocks
  
115,540
110,281

Debtors: amounts falling due within one year
 5 
6,041
10,627

Cash at bank and in hand
  
40,085
34,410

  
161,666
155,318

Creditors: amounts falling due within one year
 6 
(165,137)
(174,831)

Net current liabilities
  
 
 
(3,471)
 
 
(19,513)

Total assets less current liabilities
  
14,576
(10,399)

  

Net assets/(liabilities)
  
14,576
(10,399)


Capital and reserves
  

Called up share capital 
 7 
500
500

Profit and loss account
  
14,076
(10,899)

  
14,576
(10,399)


Page 2

 
GTE DEREHAM LIMITED
REGISTERED NUMBER: 12982399
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2025.




Mrs Emily E Taylor
John R Waterman
Director
Director

The notes on pages 6 to 10 form part of these financial statements.

Page 3

 
GTE DEREHAM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2023
500
(10,899)
(10,399)


Comprehensive income for the year

Profit for the year

-
24,975
24,975


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
24,975
24,975


Total transactions with owners
-
-
-


At 31 October 2024
500
14,076
14,576


The notes on pages 6 to 10 form part of these financial statements.

Page 4

 
GTE DEREHAM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
4
-
4


Comprehensive income for the year

Loss for the year

-
(10,899)
(10,899)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(10,899)
(10,899)


Contributions by and distributions to owners

Shares issued during the year
496
-
496


Total transactions with owners
496
-
496


At 31 October 2023
500
(10,899)
(10,399)


The notes on pages 6 to 10 form part of these financial statements.

Page 5

 
GTE DEREHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

GTE Dereham Ltd is a private company, limited by shares, registered and domiciled in England and Wales. The address of the registered office is 27 Yaxham Road, Dereham, Norfolk, NR19 1HD.
The Company's principal activites are that of the sale and repairs of garden tools and equipmemt.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
GTE DEREHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
GTE DEREHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

 
2.13

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 8

 
GTE DEREHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
2,493
6,425
486
1,996
11,400


Additions
4,342
8,490
-
495
13,327



At 31 October 2024

6,835
14,915
486
2,491
24,727



Depreciation


At 1 November 2023
500
1,286
98
402
2,286


Charge for the year on owned assets
1,269
2,726
78
321
4,394



At 31 October 2024

1,769
4,012
176
723
6,680



Net book value



At 31 October 2024
5,066
10,903
310
1,768
18,047



At 31 October 2023
1,993
5,139
388
1,594
9,114

Page 9

 
GTE DEREHAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,947
10,627

Prepayments and accrued income
4,094
-

6,041
10,627



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
21,821
17,494

Trade creditors
6,717
20,780

Corporation tax
885
-

Other taxation and social security
18,093
13,279

Other creditors
113,996
120,778

Accruals and deferred income
3,625
2,500

165,137
174,831



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary A Shares shares of £1.00 each
100
100
200 (2023 - 200) Ordinary B Shares shares of £1.00 each
200
200
200 (2023 - 200) Ordinary C Shares shares of £1.00 each
200
200

500

500



8.


Related party transactions

As at 31 October 2024, the balance owed to the directors by the Company was £111.685. These balances are included within other creditors due within one year in note 6 to the financial statements and are interest free and repayable on demand.

 
Page 10