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REGISTERED NUMBER: 09546863 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022

FOR

GUAP INTERNATIONAL LTD

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GUAP INTERNATIONAL LTD

COMPANY INFORMATION
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022







DIRECTORS: J Adetunji
I Kamara





REGISTERED OFFICE: Unit 3 Nelson Street
London
E16 1DS





REGISTERED NUMBER: 09546863 (England and Wales)





ACCOUNTANTS: Sedulo Accountants Limited
Chartered Certified Accountants
62-66 Deansgate
Manchester
M3 2EN

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 30.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,153 12,614
Tangible assets 5 24,759 18,182
40,912 30,796

CURRENT ASSETS
Debtors 6 141,286 394,965
Cash at bank 98,419 108,663
239,705 503,628
CREDITORS
Amounts falling due within one year 7 99,333 170,370
NET CURRENT ASSETS 140,372 333,258
TOTAL ASSETS LESS CURRENT LIABILITIES 181,284 364,054

CREDITORS
Amounts falling due after more than one year 8 (25,000 ) (35,000 )

PROVISIONS FOR LIABILITIES (5,094 ) -
NET ASSETS 151,190 329,054

CAPITAL AND RESERVES
Called up share capital 1,050 1,050
Share premium 49,050 49,050
Retained earnings 101,090 278,954
SHAREHOLDERS' FUNDS 151,190 329,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

BALANCE SHEET - continued
31 DECEMBER 2022


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





I Kamara - Director


GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022


1. STATUTORY INFORMATION

Guap International Ltd 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.

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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going Concern
At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the period 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.


GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 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 period 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2021 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 31 December 2021 13,780
Additions 5,000
At 31 December 2022 18,780
AMORTISATION
At 31 December 2021 1,166
Amortisation for period 1,461
At 31 December 2022 2,627
NET BOOK VALUE
At 31 December 2022 16,153
At 30 December 2021 12,614

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 31 December 2021 15,293 12,831 - 28,124
Additions 13,495 2,674 4,208 20,377
At 31 December 2022 28,788 15,505 4,208 48,501
DEPRECIATION
At 31 December 2021 7,837 2,105 - 9,942
Charge for period 8,241 4,575 984 13,800
At 31 December 2022 16,078 6,680 984 23,742
NET BOOK VALUE
At 31 December 2022 12,710 8,825 3,224 24,759
At 30 December 2021 7,456 10,726 - 18,182

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 30.12.21
£    £   
Trade debtors 122,266 378,762
Other debtors 19,020 16,203
141,286 394,965

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 30.12.21
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 8,376 15,855
Taxation and social security 136,829 136,437
Other creditors (55,872 ) 8,078
99,333 170,370

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 30.12.21
£    £   
Bank loans 25,000 35,000

GUAP INTERNATIONAL LTD (REGISTERED NUMBER: 09546863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 DECEMBER 2021 TO 31 DECEMBER 2022


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 30.12.21
£    £   
Within one year - 11,984