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REGISTERED NUMBER: 03736244 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Gap Infomedia Limited

Gap Infomedia Limited (Registered number: 03736244)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 11

Gap Infomedia Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P H Ramsey
C Gilbertson





REGISTERED OFFICE: Office One, Floor one
Maxwell House
Liverpool Innovation Park
Liverpool
L7 9NJ





REGISTERED NUMBER: 03736244 (England and Wales)





ACCOUNTANTS: Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ

Gap Infomedia Limited (Registered number: 03736244)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 51,900 58,820
Tangible assets 6 1,586 2,111
53,486 60,931

CURRENT ASSETS
Debtors 7 14,377 14,306

CREDITORS
Amounts falling due within one year 8 260,332 202,146
NET CURRENT LIABILITIES (245,955 ) (187,840 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(192,469

)

(126,909

)

CREDITORS
Amounts falling due after more than
one year

9

28,842

29,087
NET LIABILITIES (221,311 ) (155,996 )

Gap Infomedia Limited (Registered number: 03736244)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 192,513 192,513
Retained earnings (414,824 ) (349,509 )
SHAREHOLDERS' FUNDS (221,311 ) (155,996 )

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 directors acknowledge their 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 Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by:





P H Ramsey - Director


Gap Infomedia Limited (Registered number: 03736244)

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

1. STATUTORY INFORMATION

Gap Infomedia Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors assert that the going concern basis is appropriate as the company's losses will continue to be funded by other companies within the group.

Gap Infomedia Limited (Registered number: 03736244)

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

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of goodwill

The company makes an estimate of the fair value of goodwill. When assessing impairment of goodwill, management considers factors including the performance of the business operations to which the goodwill relates.

(iii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(iv) Deferred tax provisioning

Deferred tax is recognised on all timing differences at the reporting date. The company's timing differences predominantly arise on the differing tax and accounting carrying values of tangible assets. Judgement is exercised by management in determining the useful economic lives and residual values of tangible assets which is relevant in calculating the value of deferred tax liabilities or assets.

Gap Infomedia Limited (Registered number: 03736244)

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

3. ACCOUNTING POLICIES - continued

Turnover
Turnover excludes value added tax and represents net invoiced sales of services plus amounts recoverable on contracts not yet invoiced less income deferrals.

Amounts recoverable on contracts are recognised according to the stage of completion of the contracts. The stage of completion of each contract is considered individually and by reference to the proportion of the estimated total expenditure incurred at the balance sheet date.

Deferred income is recognised when contractual payments are received in advance of the related expenditure being incurred or service being provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty five years.

Intangible fixed assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Current tax
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 and that are expected to apply to the reversal of the timing difference.

Pension costs
The company makes contributions into the personal pension schemes of its employees. The contributions are recognised in the period to which they relate.

Gap Infomedia Limited (Registered number: 03736244)

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

3. ACCOUNTING POLICIES - continued

Employee benefits
Short term benefits, including holiday pay and other non-monetary benefits, are recognised as an expense in the period in which the service is received.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.


Gap Infomedia Limited (Registered number: 03736244)

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

3. ACCOUNTING POLICIES - continued
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 173,000
AMORTISATION
At 1 October 2023 114,180
Charge for year 6,920
At 30 September 2024 121,100
NET BOOK VALUE
At 30 September 2024 51,900
At 30 September 2023 58,820

Gap Infomedia Limited (Registered number: 03736244)

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

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 12,425 54,459 66,884
DEPRECIATION
At 1 October 2023 12,229 52,544 64,773
Charge for year 49 476 525
At 30 September 2024 12,278 53,020 65,298
NET BOOK VALUE
At 30 September 2024 147 1,439 1,586
At 30 September 2023 196 1,915 2,111

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Trade debtors 12,346 12,275
Other debtors 2,031 2,031
14,377 14,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 34,880 35,719
Other loans 40,000 40,000
Trade creditors 341 557
Amounts owed to group undertakings 170,454 98,476
Social security and other taxes 1,655 1,939
VAT 8,292 8,836
Other creditors 1,509 -
Directors' current accounts 2,956 5,310
Accruals and deferred income 245 11,309
260,332 202,146

Gap Infomedia Limited (Registered number: 03736244)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed to group undertakings 28,472 28,472
Accruals and deferred income 370 615
28,842 29,087

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 34,880 35,719

In respect of bank overdrafts, the company's bankers hold fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts, uncalled capital, buildings, fixtures, fixed plant and machinery. No overdraft facility was being utilised at the balance sheet date.

In addition, security is also given in respect of the bank loans of another group company. The loan outstanding at the balance sheet date amounts to £131,250.

11. RELATED PARTY DISCLOSURES

The company received loans amounting to £71,724 (2023: £41,325) from its parent company during the year. Loans repayable to the parent company at the balance sheet date amounted to £167,619 (2023: £95,895). The loans are repayable on demand and interest is not being charged by the parent company.

12. ULTIMATE CONTROLLING PARTY

The controlling party is CPRG Limited.

CPRG Limited is not controlled by any one individual.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gap Infomedia Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Gap Infomedia Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet 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 Board of Directors of Gap Infomedia Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gap Infomedia Limited and state those matters that we have agreed to state to the Board of Directors of Gap Infomedia Limited, as a body, 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 Gap Infomedia Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gap Infomedia 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 loss of Gap Infomedia Limited. You consider that Gap Infomedia Limited 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 Gap Infomedia 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.






Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ



Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gap Infomedia Limited

Date: .............................................