ACCOUNTS - Final Accounts

Company registration number: 09442991

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	GT MOTIVE LIMITED


GT MOTIVE LIMITED

CONTENTS

	Page
Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 - 7


GT MOTIVE LIMITED

COMPANY INFORMATION

Directors	A. Martinez Fontana
	D. K. Vella


Registered number	09442991


Registered office	4th Floor
	95 Gresham Street
	London
	United Kingdom
	EC2V 7AB


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY

Page 1


GT MOTIVE LIMITED REGISTERED NUMBER:09442991

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		1,999		3,353
			1,999		3,353
Current assets
Debtors: amounts falling due within one year	6	688,434		437,413
Cash at bank and in hand		360,861		659,586
		1,049,295		1,096,999
Creditors: amounts falling due within one year	7	(1,701,578)		(1,807,546)
Net current liabilities			(652,283)		(710,547)
Total assets less current liabilities			(650,284)		(707,194)

Net liabilities			(650,284)		(707,194)

Capital and reserves
Alotted, called up and fully paid	1	1
Profit and loss account	(650,285)	(707,195)
	(650,284)	(707,194)

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 by:

................................................

A. Martinez Fontana

Director

Date: 10 September 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2


GT MOTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

GT Motive Limited is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office can be found on the company information page. The Company has no principal place of business.

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

Going concern

The accounts have been prepared on a going concern basis, despite the fact that current liabilities exceed current assets. The Company has obtained an indication from its parent company GT Motive S.L. that it will continue to provide this support for at least 12 months from the date of signing these financial statements.
The director has a reasonable expectation that the wider GT Motive group and UK company have adequate resources to continue in operational existence for the foreseeable future.

2.3

Revenue

Revenue comprises licence fees for use of the Company's software. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company in accordance contracts and at a pre agreed exchange rate.

2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure

years

Costs associated with the development of new software are capitalised in Intangible assets and relate to projects which will yield a benefit over a 3 year period.

Page 3


GT MOTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

straight-line method

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.

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.8

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.

Page 4


GT MOTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.10

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 reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 5


GT MOTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Intangible assets

		Development expenditure
		£
	Cost
	At 1 January 2024	112,500
	At 31 December 2024	112,500
	Amortisation
	At 1 January 2024	112,500
	At 31 December 2024	112,500
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 January 2024	8,469
	At 31 December 2024	8,469
	Depreciation
	At 1 January 2024	5,116
	Charge for the year on owned assets	1,354
	At 31 December 2024	6,470
	Net book value
	At 31 December 2024	1,999
	At 31 December 2023	3,353

Page 6


GT MOTIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	463,213	390,709
Other debtors	448	-
Prepayments and accrued income	224,773	46,704
	688,434	437,413

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	12,502	26,884
Amounts owed to group undertakings	1,485,173	1,571,527
Corporation tax	8,638	4,887
Other taxation and social security	134,526	150,569
Other creditors	2,488	1,324
Accruals and deferred income	58,251	52,355
	1,701,578	1,807,546

8.	Related party transactions
	The Company has taken advantage of the exemption available under FRS 102 Section 33.1A not to disclose transactions with other wholly owned members of the group.

9.	Parent Company

The parent of the smallest group for which consolidated financial statements are drawn up is G T Motive S.L. The address of their registered office is: C/ Teide, 3 - 1ª Planta, Parque Empresarial La Marina, 28703, San Sebastián de los Reyes (Madrid).
The ultimate parent is Allianz SE and their registered office is: Königinstrasse 28, 80802 Munich, Germany.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 16 September 2025 by Andrew Hookway FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 7