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REGISTERED NUMBER: 01540414 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Gee Group Ltd

Gee Group Ltd (Registered number: 01540414)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Gee Group Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: C A Brian BSc Eng ACA





REGISTERED OFFICE: 15 Newland
Lincoln
LN1 1XG





REGISTERED NUMBER: 01540414 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Gee Group Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gee Group Ltd for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gee Group Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gee Group Ltd and state those matters that we have agreed to state to the director of Gee Group Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gee Group Ltd and its director for our work or for this report.

It is your duty to ensure that Gee Group Ltd 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 loss of Gee Group Ltd. You consider that Gee Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gee Group Ltd. 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


22 May 2025

Gee Group Ltd (Registered number: 01540414)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 200 200

CURRENT ASSETS
Debtors 5 181,040 216,943
Cash at bank 44,618 56,440
225,658 273,383
CREDITORS
Amounts falling due within one year 6 479 1,649
NET CURRENT ASSETS 225,179 271,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,379

271,934

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 224,379 270,934
SHAREHOLDERS' FUNDS 225,379 271,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 22 May 2025 and were signed by:





C A Brian BSc Eng ACA - Director


Gee Group Ltd (Registered number: 01540414)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gee Group Ltd 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.

The financial statements have been prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

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

Gee Group Ltd (Registered number: 01540414)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 200
NET BOOK VALUE
At 30 September 2024 200
At 30 September 2023 200

The company's investments at the Balance Sheet date in the share capital of companies include the following:


Wiggins Gee Property Limited
Registered office: 15 Newland, Lincoln, LN1 1XG
Nature of business: Commercial property rental
%
Class of shares: holding
Ordinary 100.00

Wiggins Gee Homes Limited
Registered office: 15 Newland, Lincoln, LN1 1XG
Nature of business: Commercial and residential development
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 154,724 203,329
VAT 26,316 13,614
181,040 216,943

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 479 1,649

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

Gee Group Ltd (Registered number: 01540414)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a funded pension scheme in the UK.

The most recent scheme funding valuation as at 30 September 2022 revealed a deficit and the Company agreed to make an additional contribution of £214k in December 2023 to remove this deficit. No further deficit payments are required at this time. The next scheme funding valuation is due as at 30 September 2025.

The assumptions used by the actuary are best estimates chosen from a range of possible actuarial assumptions which, due to the timescale covered, may not necessarily be borne out in practice.

The fair value of the Plan's assets, which are not intended to be realised in the short term and may be subject to significant changes before they are realised, and the present value of the Plan's liabilities, which are derived from cashflow projections.

Contributions

The pension cost that would have been charged to Operating Surplus under FRS102 for the year amounts to £346,000 (2023 pension cost: £120,000).

The amounts recognised in the balance sheet are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Present value of funded obligations (2,290,000 ) (2,035,000 )
Fair value of plan assets 2,064,000 2,233,000
(226,000 ) 198,000
Present value of unfunded obligations - -
Derecognition of scheme surplus 226,000 (198,000 )
Deficit - -
Net liability - -

The amounts recognised in profit or loss are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Current service cost - -
Net interest on the net defined benefit
liability

(2,000

)

(15,000

)
Past service cost 196,000 -
Administrative costs 152,000 103,000
346,000 88,000

Actual return on plan assets 181,000 23,000

Gee Group Ltd (Registered number: 01540414)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening defined benefit obligation 2,035,000 2,200,000
Past service cost 196,000 -
Interest cost 112,000 117,000
Actuarial losses/(gains) 145,000 (77,000 )
Benefits paid (198,000 ) (205,000 )
2,290,000 2,035,000

Changes in the fair value of scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Opening fair value of scheme assets 2,233,000 2,518,000
Service cost - administrative (152,000 ) (103,000 )
Interest income on plan assets 114,000 132,000
Return on assets 67,000 (109,000 )
Benefits paid (198,000 ) (205,000 )
2,064,000 2,233,000

The amounts recognised in other comprehensive income are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Actuarial gains/(losses) (78,000 ) (32,000 )
(78,000 ) (32,000 )

The major categories of scheme assets as amounts of total scheme assets are as follows:

Defined benefit
pension plans
2024 2023
£    £   
Bonds 1,975,000 2,191,000
Cash and other 89,000 42,000
2,064,000 2,233,000

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 2023
Discount rate 4.90% 5.50%
Inflation assumption - 3.60%
Future pension increases 3.00% 3.00%
Revaluation in deferment - 3.60%

Gee Group Ltd (Registered number: 01540414)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Headcrown Group Limited, a company incorporated in England and Wales.

The registered office of Headcrown Group Limited is 15 Newland, Lincoln, England, LN1 1XG.