Go-Centric Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07377180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

GO-CENTRIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J L Harper

G M Krasner FCA

SECRETARY:

D J L Harper

REGISTERED OFFICE:

St Paul's House

23 Park Square

Leeds

LS1 2ND

REGISTERED NUMBER:

07377180 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Paul's House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

47,255

27,302

47,256

27,303

CURRENT ASSETS

Debtors

6

719,497

319,225

Cash at bank and in hand

398,094

118,922

1,117,591

438,147

CREDITORS

Amounts falling due within one year

7

956,382

348,806

NET CURRENT ASSETS

161,209

89,341

TOTAL ASSETS LESS CURRENT LIABILITIES

208,465

116,644

CREDITORS

Amounts falling due after more than one year

8

(43,333

)

(200,000

)

PROVISIONS FOR LIABILITIES

(8,122

)

-

NET ASSETS/(LIABILITIES)

157,010

(83,356

)

CAPITAL AND RESERVES

Called up share capital

9,500

500

Retained earnings

147,510

(83,856

)

157,010

(83,356

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 by the Board of Directors and authorised for issue on 8 February 2021 and were signed on its behalf by:

D J L Harper - Director

1.	STATUTORY INFORMATION

Go-Centric 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.

The principal activity of the company in the period under review was the operation of a call centre.

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.

Prior to the lockdown restrictions associated with the Coronavirus pandemic, the company's staff had moved to a remote working model which continues to be in place. By implementing this at an earlier stage the company was able to adapt its service offering to ensure that all existing and new clients' needs could be were met with no breaks in service, and with rapid deployment for new campaigns as necessary. The flexibility of this model means the company can avoid significant operational disruption arising from the ongoing pandemic and, together with its close relationship with its customers, is strongly placed to meet the business demands of its continuing expansion.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover

Turnover is measured at the fair value of consideration receivable, excluding value added tax, for services provided in the period.

Intangible assets

Intangible assets, comprising Goodwill and Intellectual Property, 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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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 191 (2019 - 57 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

1

NET BOOK VALUE

At 31 December 2020

1

At 31 December 2019

1

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

40,768

Additions

31,495

At 31 December 2020

72,263

DEPRECIATION

At 1 January 2020

13,466

Charge for year

11,542

At 31 December 2020

25,008

NET BOOK VALUE

At 31 December 2020

47,255

At 31 December 2019

27,302

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

561,938

241,079

Other debtors

157,559

78,146

719,497

319,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

6,667

-

Trade creditors

240,791

115,229

Taxation and social security

407,613

207,150

Other creditors

301,311

26,427

956,382

348,806

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

43,333

-

Other creditors

-

200,000

43,333

200,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Other loans

-

200,000