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Registered Number: 08452426
England and Wales

 

 

 

GN TELECOM LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Christine Margherita Richardson
Registered Number 08452426
Registered Office 1 Giltspur Street Farringdon
London
EC1A 9DD
Secretary More Corporate Secretaries Limited
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investments 3 637,684    177,822 
637,684    177,822 
Current assets      
Debtors: amounts falling due within one year 4 14,078    37,361 
Debtors: amounts falling due after one year 5 105,175    250,989 
Cash at bank and in hand 28,188    34,320 
147,441    322,670 
Creditors: amount falling due within one year 6 (384,315)   (375,407)
Net current assets (236,874)   (52,737)
 
Total assets less current liabilities 400,810    125,085 
Creditors: amount falling due after more than one year 7 (371,310)   (51,891)
Net assets 29,500    73,194 
 

Capital and reserves
     
Called up share capital 8 2    2 
Profit and loss account 29,498    73,192 
Shareholders' funds 29,500    73,194 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 May 2025 and were signed on its behalf by:


-------------------------------
Christine Margherita Richardson
Director
2
General Information
GN TELECOM LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08452426, registration address 1 Giltspur Street Farringdon, London, EC1A 9DD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees, including directors

Average number of employees during the year was 2 (2023 : 2).
3.

Investments

Cost Other investments other than loans   Investments in participating interests   Total
  £   £   £
At 01 April 2023 177,822      177,822 
Additions   637,684    637,684 
Transfer to/from tangible fixed assets    
Disposals (177,822)     (177,822)
At 31 March 2024   637,684    637,684 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 12,826    37,361 
Prepayments & Accrued Income 1,252   
14,078    37,361 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 105,175    108,180 
Other Receivables   142,809 
105,175    250,989 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 22,445    61,853 
Prepayments from Customers 293,450    252,791 
Corporation Tax 30,858    40,889 
PAYE & Social Security 4,520   
Other Creditors   1 
Pension Contributions Control Account 77   
Directors' Current Accounts 32,965    19,873 
384,315    375,407 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 371,310    51,891 
371,310    51,891 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

9.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
GEM4ME HOLDINGS LTD(50,500)(51,891)

3