ACCOUNTS - Final Accounts preparation

Company registration number: 04414980

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	GM8 GROUP LTD


GM8 GROUP LTD

COMPANY INFORMATION

Directors	Mr Haydon Robinson
	Mr Mark Robinson


Company secretary	Mr Mark Robinson


Registered number	04414980


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


Trading Address	GM8 Group Ltd
	7 Paynes Park
	Hitchin
	SG5 1EH



Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


GM8 GROUP LTD REGISTERED NUMBER:04414980

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	5		50,323		57,923
Tangible assets	6		1,755,336		1,800,734
			1,805,659		1,858,657
Current assets
Stocks		177,503		161,245
Debtors: amounts falling due within one year	7	172,275		78,284
Cash at bank and in hand		18,184		24,301
		367,962		263,830
Creditors: amounts falling due within one year	8	(1,722,338)		(1,321,730)
Net current liabilities			(1,354,376)		(1,057,900)
Total assets less current liabilities			451,283		800,757
Creditors: amounts falling due after more than one year	9		(467,277)		(439,337)
Provisions for liabilities
Deferred tax	10	-		(8,902)
			-		(8,902)
Net (liabilities)/assets			(15,994)		352,518

Capital and reserves
Called up share capital	100	100
Revaluation reserve	973,000	973,000
Profit and loss account	(989,094)	(620,582)
	(15,994)	352,518

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GM8 GROUP LTD REGISTERED NUMBER:04414980

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 29 September 2025.

Mr Mark Robinson

Director

The notes on pages 3 to 9 form part of these financial statements.

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

GM8 Group Limited is a company, limited by shares, incorporated in England and Wales with company registration number is 03656862. The registered office is 4th Floor, 95 Gresham Street, London, EC2V 7AB and the principal place of business is 54 Wilbury Way, Hitchin, SG4 0TP.

2.	Going concern

At the balance sheet date the company shows a deficiency of total assets over total liabilities of £15,994 ( 2023: -£352,518). Due to the ongoing support of the directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due. The company has prepared its financial statements on a going concern basis.

3.Accounting policies

3.1

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:

3.2

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.

3.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is generated by online retail and manufacturing of susbtianable , environmentally-friendly productsand is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.Accounting policies (continued)

3.4

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.

3.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over 20 years.

Other 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.

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.Accounting policies (continued)

3.7

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, on a reducing balance and straight-line basis.

Depreciation is provided on the following basis:

Freehold property	-	2%	on cost
Long-term leasehold property	-	20%	on cost
Plant and machinery	-	20%	reducing balance
Fixtures and fittings	-	20%	straight-line
Computer equipment	-	20%	reducing balance

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.

3.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

3.9

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.

Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 13).

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Intangible assets

	Trademarks	Computer software	Goodwill	Total
	£	£	£	£
Cost
At 1 January 2024	-	116,102	46,848	162,950
Additions	-	34,715	-	34,715
Additions - internal	5,384	-	-	5,384
At 31 December 2024	5,384	150,817	46,848	203,049
Amortisation
At 1 January 2024	-	98,705	6,322	105,027
Charge for the year on owned assets	314	45,043	2,342	47,699
At 31 December 2024	314	143,748	8,664	152,726
Net book value
At 31 December 2024	5,070	7,069	38,184	50,323
At 31 December 2023	-	17,397	40,526	57,923

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets

	Freehold property	Long-term leasehold property	Plant and machinery	Computer equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	1,890,000	7,395	216,870	1,157	2,115,422
Additions	-	988	5,568	5,857	12,413
Disposals	-	-	-	(1,513)	(1,513)
At 31 December 2024	1,890,000	8,383	222,438	5,501	2,126,322
Depreciation
At 1 January 2024	170,067	5,916	138,438	267	314,688
Charge for the year on owned assets	37,800	1,644	16,190	946	56,580
Disposals	-	-	-	(282)	(282)
At 31 December 2024	207,867	7,560	154,628	931	370,986
Net book value
At 31 December 2024	1,682,133	823	67,810	4,570	1,755,336
At 31 December 2023	1,719,933	1,479	78,432	890	1,800,734

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	49,783	49,998
Other debtors	817	13,140
Prepayments and accrued income	19,707	15,146
Deferred taxation	101,968	-
	172,275	78,284

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

Bank overdrafts	175,505	39,880
Bank loans	107,271	-
Trade creditors	269,826	149,788
Amounts owed to group undertakings	1,115,819	1,076,771
Other taxation and social security	19,721	29,809
Other creditors	22,279	19,982
Accruals and deferred income	11,917	5,500
	1,722,338	1,321,730

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	432,926	439,337
Accruals and deferred income	34,351	-
	467,277	439,337

10.	Deferred taxation

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GM8 GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.Deferred taxation (continued)

		2024
		£

	At beginning of year	(8,902)
	Charged to profit or loss	110,870
	At end of year	101,968

The deferred taxation balance is made up as follows:
	2024	2023
	£	£

	Tax losses carried forward	101,968	(8,902)
		101,968	(8,902)

11.	Related party transactions
	As at year end, there is an amount of £1,115,819 (2023: £1,076,771) owed from companies under common control.

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