Company Registration No. 02313035 (England and Wales)
GROUP BUSINESS SOFTWARE (UK) LTD.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
7 Christie Way
Christie Fields
Manchester
M21 7QY
GROUP BUSINESS SOFTWARE (UK) LTD.
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
GROUP BUSINESS SOFTWARE (UK) LTD.
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
5,023
-
0
Current assets
Debtors
7
13,437
72,864
Cash at bank and in hand
45,600
18,434
59,037
91,298
Creditors: amounts falling due within one year
8
(150,504)
(233,142)
Net current liabilities
(91,467)
(141,844)
Total assets less current liabilities
(86,444)
(141,844)
Creditors: amounts falling due after more than one year
9
(156,783)
-
0
Net liabilities
(243,227)
(141,844)
Capital and reserves
Called up share capital
10
50
50
Share premium account
58,790
58,790
Capital redemption reserve
16
16
Other reserves
769,440
769,440
Profit and loss reserves
(1,071,523)
(970,140)
Total equity
(243,227)
(141,844)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

GROUP BUSINESS SOFTWARE (UK) LTD.
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Andreas Philippi
Director
Company registration number 02313035 (England and Wales)
GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Group Business Software (UK) Ltd. is a private company limited by shares incorporated in England and Wales, registered number 02313035. The registered office is 7 Christie Way, Christie Fields, Manchester, United Kingdom, M21 7QY.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

 

The financial statements are prepared in sterling, which is the functional currency of the entity.

1.2
Going concern

As at 31 December 2024, the company had net liabilities of £243,227, of which £91,467 are net current liabilities. Included within current liabilities is deferred income of £82,988, which is income received in advance to be recognised as sales in the next accounting period. Non-current liabilities are a total of £156,783 which entirely relates to amounts owed to group companies, which will be payable only when the company has available cash funds.

 

The directors believe that the outlook for the year ended 31 December 2025 is positive with turnover
expected to increase and an expectation that the company will return to profitability.

 

The accounts have been prepared on the going concern basis as the company's intermediate parent
undertaking GBS Europa GmbH has confirmed it will financially support Group Business Software (UK)
Limited for a time frame exceeding twelve months from the date of signing.

 

1.3
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

 

Revenue represents the company's right to consideration and is recognised once the services have been performed and completed.

 

Revenue from maintenance and services contracts is recognised over the period to which the contract relates with revenue to post balance sheet being deferred at the balance sheet date.

 

Deferred income represents revenue invoiced in advance of services that have not yet been rendered to clients.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Intangible fixed assets other than goodwill

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

 

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that assets as follows:

 

Intellectual property & software - 20% straight line

 

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

 

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The assets useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect on any change is accounted prospectively.

1.7
Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Debt instruments are subsequently measured at amortised cost.

 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.12

Pensions

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

2
Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 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 significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next year are addressed below:

 

(1) Impairment of trade and other 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 of debtors and historical experience.

3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
8,500
9,600
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Intangible fixed assets
Intellectual property & software
£
Cost
At 1 January 2024 and 31 December 2024
537,744
Amortisation and impairment
At 1 January 2024 and 31 December 2024
537,744
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
6
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
2,942
Additions
5,649
Disposals
(2,942)
At 31 December 2024
5,649
Depreciation and impairment
At 1 January 2024
2,942
Depreciation charged in the year
626
Eliminated in respect of disposals
(2,942)
At 31 December 2024
626
Carrying amount
At 31 December 2024
5,023
At 31 December 2023
-
0
GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,800
27,237
Other debtors
11,637
45,627
13,437
72,864
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
43,170
19,768
Taxation and social security
7,451
13,320
Other creditors
99,883
200,054
150,504
233,142
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
156,783
-
0
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 10p each
500
500
50
50
11
Pension Commitments

As at 31 December 2024 included within taxation and social security is £1,548 (2023: £1,548) relating to outstanding pension contributions.

GROUP BUSINESS SOFTWARE (UK) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Emma Ball BA BFP FCA
Statutory Auditor:
Alexander & Co LLP
Date of audit report:
1 August 2025
13
Related party transactions

The company is exempt under the terms of FRS 102 from disclosing related party transactions with entities that were part of the Chapters Group AG group which were wholly owned.

 

14
Ultimate Controlling Party

During the year the immediate parent company was GBS Europa GmbH, a company registered in Germany. The consolidating parent is Chapters Group AG, a company registered in Germany. This is the largest group that prepares consolidated financial statements in which the company is included and these financial statements can be obtained from Falkenried 29, 20251 Hamburg, Germany. There is considered to be no ultimate controlling party.

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