REGISTERED NUMBER: 10528495 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gl Telecoms Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G S Lea

Miss N L Lea

Miss J A McAteer

J Gildea

REGISTERED OFFICE:

Unit 13 E&F

Randles Road

Prescot

Knowsley

L34 9HX

REGISTERED NUMBER:

10528495 (England and Wales)

ACCOUNTANTS:

Douglas Fairless Partnership

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Tangible assets

4

811,259

673,707

Investments

5

473,538

473,538

1,284,797

1,147,245

CURRENT ASSETS

Debtors

1,866,611

2,308,114

Cash at bank

3,290,351

966,230

5,156,962

3,274,344

CREDITORS

Amounts falling due within one year

2,004,903

1,187,174

NET CURRENT ASSETS

3,152,059

2,087,170

TOTAL ASSETS LESS CURRENT LIABILITIES

4,436,856

3,234,415

PROVISIONS FOR LIABILITIES

176,782

107,805

NET ASSETS

4,260,074

3,126,610

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

4,250,074

3,116,610

SHAREHOLDERS' FUNDS

4,260,074

3,126,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 June 2025 and were signed on its behalf by:

G S Lea - Director

1.	STATUTORY INFORMATION

Gl Telecoms 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.

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

927,872

Additions

417,428

Disposals

(140,919

)

At 31 December 2024

1,204,381

DEPRECIATION

At 1 January 2024

254,165

Charge for year

174,372

Eliminated on disposal

(35,415

)

At 31 December 2024

393,122

NET BOOK VALUE

At 31 December 2024

811,259

At 31 December 2023

673,707

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2024

and 31 December 2024

473,538

NET BOOK VALUE

At 31 December 2024

473,538

At 31 December 2023

473,538

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

G S Lea

Balance outstanding at start of year

296,722

374,435

Amounts advanced

875,839

474,075

Amounts repaid

(965,495

)

(551,788

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

207,066

296,722

The loans were unsecured, repayable on demand and 2.5% interest was charged on the average balance of the loan.