Go Tec Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05963582 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

GO TEC CONSULTANCY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

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)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Intangible assets

4

69,470

-

Tangible assets

5

28,074

62,223

97,544

62,223

CURRENT ASSETS

Debtors

1,544,434

2,058,483

Cash at bank

53,936

24,652

1,598,370

2,083,135

CREDITORS

Amounts falling due within one year

802,416

1,226,445

NET CURRENT ASSETS

795,954

856,690

TOTAL ASSETS LESS CURRENT LIABILITIES

893,498

918,913

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

893,398

918,813

SHAREHOLDERS' FUNDS

893,498

918,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2018 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 on 24 September 2019 and were signed by:

Mr R J Stanton-Gleaves - Director

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

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.

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.

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.

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Creditors

Short-term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2017 - 37 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

69,470

At 31 December 2018

69,470

NET BOOK VALUE

At 31 December 2018

69,470

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

124,885

Additions

17,909

Disposals

(35,186

)

At 31 December 2018

107,608

DEPRECIATION

At 1 January 2018

62,662

Charge for year

28,366

Eliminated on disposal

(11,494

)

At 31 December 2018

79,534

NET BOOK VALUE

At 31 December 2018

28,074

At 31 December 2017

62,223

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption as per paragraph 33.1A of FRS 102 Related Party

Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

7.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous year by the director, Mr R J Stanton-Gleaves,

by virtue of his ownership of the entire issued share capital of the holding company, R Stanton-Gleaves UK Ltd.