REGISTERED NUMBER: NI611588 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

GTM Relocations Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T Maguire

G Maguire

REGISTERED OFFICE:

27 City Business Park

Derriaghy

Belfast

Co. Antrim

BT17 9HY

REGISTERED NUMBER:

NI611588 (Northern Ireland)

ACCOUNTANTS:

Toman Accountancy Services Ltd

Unit HF 9, Twin Spires Complex

Howard Buildings

155 Northumberland Street

Belfast

Antrim

BT13 2JF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

47,988

52,189

47,988

52,189

CURRENT ASSETS

Debtors

6

19,868

58,892

Cash at bank and in hand

21,837

21,449

41,705

80,341

CREDITORS

Amounts falling due within one year

7

44,857

73,892

NET CURRENT (LIABILITIES)/ASSETS

(3,152

)

6,449

TOTAL ASSETS LESS CURRENT LIABILITIES

44,836

58,638

CREDITORS

Amounts falling due after more than one year

8

(32,268

)

(37,505

)

PROVISIONS FOR LIABILITIES

(11,185

)

(11,671

)

NET ASSETS

1,383

9,462

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,381

9,460

SHAREHOLDERS' FUNDS

1,383

9,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

T Maguire - Director

G Maguire - Director

1.	STATUTORY INFORMATION

GTM Relocations Ltd. is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

Consider the recoverability of trade debtors and work in progress and the need for impairment provisions. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

All financial statements of the company are considered to meet the definition of basic financial instruments.

-Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

-Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

-Loans and borrowings

All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issues costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowing are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

40,000

AMORTISATION

At 1 April 2024

and 31 March 2025

40,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

60,367

41,700

102,067

Additions

3,500

15,370

18,870

Disposals

(6,450

)

(33,200

)

(39,650

)

At 31 March 2025

57,417

23,870

81,287

DEPRECIATION

At 1 April 2024

17,293

32,585

49,878

Charge for year

11,163

5,569

16,732

Eliminated on disposal

(5,692

)

(27,619

)

(33,311

)

At 31 March 2025

22,764

10,535

33,299

NET BOOK VALUE

At 31 March 2025

34,653

13,335

47,988

At 31 March 2024

43,074

9,115

52,189

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

7,504

53,892

Other debtors

12,364

5,000

19,868

58,892

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

1,217

548

Trade creditors

3,786

16,272

Taxation and social security

23,531

33,121

Other creditors

16,323

23,951

44,857

73,892

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

32,268

37,505

9.	RELATED PARTY DISCLOSURES

Rental payment of £24.6k was paid to Magam Holdings Ltd of which Mr G Maguire & Mr T Maguire are directors.

10.	ULTIMATE CONTROLLING PARTY

The company continues to be controlled by Mr T Maguire and Mr G Maguire by way of their shareholding.