Company Registration No. 05570189 (England and Wales)
GMR Connection Limited
Unaudited accounts
for the year ended 30 September 2020
GMR Connection Limited
Unaudited accounts
Contents
GMR Connection Limited
Company Information
for the year ended 30 September 2020
Directors
Michael S Turner
C Wallin
Secretary
Vistra Cosec Limited
Company Number
05570189 (England and Wales)
Registered Office
110 NEWBURY GARDENS
EPSOM
SURREY
KT19 0PD
ENGLAND
Accountants
Hybrid Premium LTD
110 Newbury Gardens
Stoneleigh
Epsom
Surrey
KT19 0PD
GMR Connection Limited
Statement of financial position
as at 30 September 2020
Investment property
1,592,370
1,529,450
Cash at bank and in hand
44,944
34,599
Creditors: amounts falling due within one year
(603,863)
(582,443)
Net current liabilities
(547,895)
(534,039)
Net assets
1,051,476
1,002,412
Called up share capital
1
1
Profit and loss account
1,051,475
1,002,411
Shareholders' funds
1,051,476
1,002,412
For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2021 and were signed on its behalf by
C Wallin
Director
Company Registration No. 05570189
GMR Connection Limited
Notes to the Accounts
for the year ended 30 September 2020
GMR Connection Limited is a private company, limited by shares, registered in England and Wales, registration number 05570189. The registered office is 110 NEWBURY GARDENS, EPSOM, SURREY, KT19 0PD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% on cost
Investment property is shown at market fair value at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.
Investments in subsidiaries
The Investments in the subsidiary and associate are stated at costs, less provision of impairments.
GMR Connection Limited
Notes to the Accounts
for the year ended 30 September 2020
4
Tangible fixed assets
Computer equipment
Fair value at 1 October 2019
1,529,450
Net gain from fair value adjustments
62,920
At 30 September 2020
1,592,370
Fair value at 30th September 2020 is represented by:
Valuation 2020 £977,184.00
Cost £552,266.00
Total £1,529,450.00
6
Investments
Other investments
Valuation at 1 October 2019
7,001
Valuation at 30 September 2020
7,001
Fixed Asset Investment...continued
The company's investments at the balance sheet date in the share capital of companies include the following:
C4 Connection AB
Nature of Business: Consultancy
Class of Shares: Ordinary - 100%
E Switch AB :14,000 shares holding 22%. The company paid 1 SEK for shares
This was converted to sterling at the rate of exchange in place at the date of transaction.
GMR Connection Limited
Notes to the Accounts
for the year ended 30 September 2020
Amounts due from group undertakings etc.
7,731
7,379
Accrued income and prepayments
3,293
6,426
Amounts due after more than one year
7,730
7,379
8
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
-
1,574
Other creditors
602,597
579,249
The amount owed to the shareholder includes a loan lent to the company £552,266. The loan can re-paid at any time during the duration period and attracts interest at a rate of 4%. The loan is secured against the investment property.
Allotted, called up and fully paid:
1,000 Ordinary shares of £0.001 each
1
1
10
Transactions with related parties
Shareholder
During the year, the company received rent amounting to £15,125 (2019: £13,920) from subletting a flat owned by the shareholder. No rent is payable by the company.
The Investment property is financed by a £552,266 loan at a 4% interest rate loan from the shareholder. The loan can be repaid at any time during the duration period.
The amount owed to the shareholder at year-end is £600,535.00 (2019: £577,186.00)
11
Average number of employees
During the year the average number of employees was 0 (2019: 0).
