GMT Computers Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03389095

GMT Computers Limited

Filleted Unaudited Financial Statements

For the year ended

30 June 2025

GMT Computers Limited

Statement of Financial Position

30 June 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	7		13,738		19,515

Current assets

Stocks		5,000	3,500
Debtors	8	58,811	85,744
Cash at bank and in hand		39,327	16,528
		---------	---------
		103,138	105,772

Creditors: amounts falling due within one year	9	66,593		84,025
		---------		---------
Net current assets			36,545		21,747
			--------		--------
Total assets less current liabilities			50,283		41,262

Creditors: amounts falling due after more than one year	10		–		2,790

Provisions

Taxation including deferred tax	2,610	3,708
	--------	--------
Net assets	47,673	34,764
	--------	--------

GMT Computers Limited

Statement of Financial Position (continued)

30 June 2025

	2025		2024
Note	£	£	£	£

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	45,673	32,764
	--------	--------
Shareholders funds	47,673	34,764
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

P S Harrison	P M Harrison-Curl
Director	Director

Company registration number: 03389095

GMT Computers Limited

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite G, V12, Merlin Park, Ringtail Road, Burscough, Lancashire, L40 8JY, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

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

Amortisation

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

Dealership Licences	-	25% straight line
Software Development Costs	-	25% 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.

Research and development

Expenditure on research and development is written off in the year it is incurred.

Tangible assets

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

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Equipment	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 9 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	8,448	5,563

Deferred tax:

Origination and reversal of timing differences	( 1,098)	( 1,199)
	-------	-------
Tax on profit	7,350	4,364
	-------	-------

6. Intangible assets

	Goodwill	Development costs	Total
	£	£	£
Cost
At 1 July 2024 and 30 June 2025	3,500	37,247	40,747
	-------	--------	--------
Amortisation
At 1 July 2024 and 30 June 2025	3,500	37,247	40,747
	-------	--------	--------
Carrying amount
At 30 June 2025	–	–	–
	-------	--------	--------
At 30 June 2024	–	–	–
	-------	--------	--------

7. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 July 2024	17,767	13,482	128,414	159,663
Additions	–	–	2,925	2,925
Disposals	–	( 13,482)	–	( 13,482)
	--------	--------	---------	---------
At 30 June 2025	17,767	–	131,339	149,106
	--------	--------	---------	---------
Depreciation
At 1 July 2024	16,531	8,387	115,230	140,148
Charge for the year	185	637	3,422	4,244
Disposals	–	( 9,024)	–	( 9,024)
	--------	--------	---------	---------
At 30 June 2025	16,716	–	118,652	135,368
	--------	--------	---------	---------
Carrying amount
At 30 June 2025	1,051	–	12,687	13,738
	--------	--------	---------	---------
At 30 June 2024	1,236	5,095	13,184	19,515
	--------	--------	---------	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	42,203	81,037
Prepayments and accrued income	438	657
Directors loan account	–	250
Amounts recoverable on contracts	6,500	3,800
Other debtors	9,670	–
	--------	--------
	58,811	85,744
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,791	2,032
Trade creditors	16,649	32,884
Accruals and deferred income	12,666	16,017
Corporation tax	8,448	5,563
Social security and other taxes	21,922	22,625
Dividends payable	1,800	1,800
Director loan accounts	2,317	408
Other creditors	–	2,696
	--------	--------
	66,593	84,025
	--------	--------

Bank borrowings are secured by fixed and floating charges over all the assets of the company.

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	2,790
	----	-------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	2,610	3,708
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	2,610	3,708
	-------	-------

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	1,430	1,430
	-------	-------

13. Directors' advances, credits and guarantees

As at 30 June 2025, the company owed Mr P S Harrison £1,667 (2024: £408) in respect of the balance on his director's loan account. This loan is interest free and is repayable to the director on demand. As at 30 June 2025, the company owed Mrs P M Harrison-Curl £650 in respect of the balance on her director's loan account. This loan is interest free and is repayable to the director on demand.