Gotec Trading Limited Filleted accounts for Companies House (small and micro)
Gotec Trading Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
01374951
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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------- |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2022
, and are signed on behalf of the board by:
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Director |
Company registration number:
01374951
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Notes to the Financial Statements |
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Boulton Road, Pin Green, Stevenage, Herts.,, SG1 4QL.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Intangible assets
Trade marks are stated at cost in the financial statements. Amortisation has not been provided, but the 10 yearly renewal costs are charged to the P & L account as they occur.
Tangible assets
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 & Fittings |
- |
10% wdv |
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Equipment |
- |
25% wdv |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2020:
2
).
5.
Intangible assets
Development costs |
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£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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Amortisation |
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At 1 January 2021 and 31 December 2021 |
– |
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Carrying amount |
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At 31 December 2021 |
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---- |
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At 31 December 2020 |
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6.
Tangible assets
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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4,178 |
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Depreciation |
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At 1 January 2021 |
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2,415 |
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Charge for the year |
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441 |
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------- |
-------- |
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At 31 December 2021 |
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2,856 |
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Carrying amount |
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At 31 December 2021 |
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1,322 |
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At 31 December 2020 |
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1,763 |
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7.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Contingencies
There were no contingent liabilities, to the knowledge of the directors, which have not been provided for in these accounts.
10.
Events after the end of the reporting period
The effect of events relating to the year ended 31st December 2017 which occurred before the date of approval of the financial statements by the board of directors, have been included to the extent required to show a true and fair view of the state of affairs at 31st December 2017 and of the results for the year ended on that date.
11.
Related party transactions
The company was under the control of it's directors, Mr & Mrs Gonnermann throughout the current and previous year. Each director holds 50% of the issued Ordinary Share Capital of the company. Rent of £24,000 (2016 £24,000) was paid to the Directors in respect of the business premises.