GSM FINANCE LIMITED

GSM FINANCE LIMITED

GSM FINANCE LIMITED - Company Information

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GSM FINANCE LIMITED

Company Registration Number:
03459806 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2022

Period of accounts

Start date: 01 December 2021

End date: 30 November 2022

GSM FINANCE LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2022

Balance sheet
Notes

GSM FINANCE LIMITED

Balance sheet

As at 30 November 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 487,813 510,313
Total fixed assets: 487,813 510,313
Current assets
Debtors:   351,870 380,407
Cash at bank and in hand: 457,394 596,850
Total current assets: 809,264 977,257
Creditors: amounts falling due within one year: 4 (317,807) (524,937)
Net current assets (liabilities): 491,457 452,320
Total assets less current liabilities: 979,270 962,633
Creditors: amounts falling due after more than one year: 5 (122,890) (63,331)
Total net assets (liabilities): 856,380 899,302
Capital and reserves
Called up share capital: 800 800
Profit and loss account: 855,580 898,502
Shareholders funds: 856,380 899,302

The notes form part of these financial statements

GSM FINANCE LIMITED

Balance sheet statements

For the year ending 30 November 2022 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 August 2023
and signed on behalf of the board by:

Name: G T Symmons
Status: Director

The notes form part of these financial statements

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

2. Employees

2022 2021
Average number of employees during the period 9 9

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Tangible Assets

Total
Cost £
At 01 December 2021 660,543
At 30 November 2022 660,543
Depreciation
At 01 December 2021 150,230
Charge for year 22,500
At 30 November 2022 172,730
Net book value
At 30 November 2022 487,813
At 30 November 2021 510,313

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Creditors: amounts falling due within one year note

Secured Creditors £15,000 (2021: £15,000)Unsecured Creditors £302,807 (2021: £509,937)

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

5. Creditors: amounts falling due after more than one year note

Secured Bank Loan £17,676 (2021: £32,470)Unsecured Loan £105,214 (2021: £30,861)The bank loan is secured by a charge over the leasehold property and a director's personal guarantee of £100,000Bank Loans outstanding between one and five years amounted to £17,676 (2021: £32,470)

GSM FINANCE LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

6. Related party transactions

Name of the related party:
Relationship:
Connected Company
Description of the Transaction: The transaction was interest free loan.
£
Balance at 01 December 2021 234,173
Balance at 30 November 2022 237,054