Go Tec Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5

Go Tec Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5

GO TEC CONSULTANCY LIMITED - Company Information

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REGISTERED NUMBER: 05963582 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GO TEC CONSULTANCY LIMITED
GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


GO TEC CONSULTANCY LIMITED

COMPANY INFORMATION
for the year ended 31 December 2022







DIRECTOR: Mr R J Stanton-Gleaves





SECRETARY: Mrs V Billingsley





REGISTERED OFFICE: 40 High Street
West Malling
Kent
ME19 6QR





REGISTERED NUMBER: 05963582 (England and Wales)





AUDITORS: Raffingers LLP, Statutory Auditor
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
Page 1
GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)

ABRIDGED BALANCE SHEET
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,749 30,068
Tangible assets 5 46,681 63,975
48,430 94,043

CURRENT ASSETS
Debtors 595,667 599,519
Cash at bank 17,175 17,340
612,842 616,859
CREDITORS
Amounts falling due within one year 350,912 123,729
NET CURRENT ASSETS 261,930 493,130
TOTAL ASSETS LESS CURRENT
LIABILITIES
310,360
587,173

CREDITORS
Amounts falling due after more than one
year
6
66,439
91,386
NET ASSETS 243,921 495,787

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 243,821 495,687
SHAREHOLDERS' FUNDS 243,921 495,787

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 4 August 2023 and were signed by:





Mr R J Stanton-Gleaves - Director


The notes form part of these financial statements

Page 2
GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Go Tec Consultancy 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 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.

The accounts have been prepared on the going concern basis as the director is of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

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

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.

Software development costs will be amortised evenly over their estimated useful life of 3 years once the software is ready for its intended use within the company.

Expenditure relating to software development is recognised as an expense in the period in which it is incurred.

In the event that an internally generated intangible asset arises from the company's development activities, then it is recognised only if all of the following conditions are met:
- An asset is created that can be identified;
- The project from which the asset arises meets the company's criteria for assessing technical feasibility;
- It is probable that the asset created will generate future economic benefits; and
- The development cost of the asset can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.


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GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022
and 31 December 2022 183,814
AMORTISATION
At 1 January 2022 153,746
Amortisation for year 28,319
At 31 December 2022 182,065
NET BOOK VALUE

At 31 December 2022 1,749
At 31 December 2021 30,068

Page 4 continued...
GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 203,609
Additions 1,440
At 31 December 2022 205,049
DEPRECIATION
At 1 January 2022 139,634
Charge for year 18,734
At 31 December 2022 158,368
NET BOOK VALUE
At 31 December 2022 46,681
At 31 December 2021 63,975

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2022
and 31 December 2022 61,703
DEPRECIATION
At 1 January 2022 1,290
Charge for year 15,485
At 31 December 2022 16,775
NET BOOK VALUE
At 31 December 2022 44,928
At 31 December 2021 60,413

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2022 2021
£    £   
Repayable by instalments
Bank loans - 6,667

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 44,719 54,666

Hire purchase contracts are secured over the assets to which they relate.

Page 5 continued...
GO TEC CONSULTANCY LIMITED (REGISTERED NUMBER: 05963582)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thurairatnam Sudarshan FCCA (Senior Statutory Auditor)
for and on behalf of Raffingers LLP, Statutory Auditor

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, the company owed £304 (2021 : owed to £304) by Black Opal Travel Group Limited, a company connected by the virtue of common directorship.

10. AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the statutory audit for the year ended 31 December 2022. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the directors on 3 May 2023.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is R Stanton-Gleaves UK Limited by virtue of ownership of the company's entire share capital.

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge amounted to £20,404 (2021: £21,496) during the year.

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