Registered number
08853066
Gusta Limited
Filleted Accounts
31 January 2023
Gusta Limited
Registered number: 08853066
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,388 3,585
3,388 3,585
Current assets
Debtors 4 2,678 1,817
Cash at bank and in hand 13,857 46,658
16,535 48,475
Creditors: amounts falling due within one year 5 (18,891) (16,064)
Net current (liabilities)/assets (2,356) 32,411
Total assets less current liabilities 1,032 35,996
Creditors: amounts falling due after more than one year 6 (12,189) (17,083)
Net (liabilities)/assets (11,157) 18,913
Capital and reserves
Called up share capital 2 2
Profit and loss account (11,159) 18,911
Shareholders' funds (11,157) 18,913
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Polese
Director
Approved by the board on 21 September 2023
Gusta Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 - 13,212 - 13,212
Additions - 650 - 650
At 31 January 2023 - 13,862 - 13,862
Depreciation
At 1 February 2022 - 9,627 - 9,627
Charge for the year - 847 - 847
At 31 January 2023 - 10,474 - 10,474
Net book value
At 31 January 2023 - 3,388 - 3,388
At 31 January 2022 - 3,585 - 3,585
4 Debtors 2023 2022
£ £
Other debtors 2,678 1,817
2,678 1,817
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,104 5,000
Trade creditors 4,897 4,318
Taxation and social security costs - 3,161
Other creditors 4,890 3,585
18,891 16,064
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,189 17,083
12,189 17,083
7 Other information
Gusta Limited is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
Gusta Limited 08853066 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 A Polese No description of principal activity 08853066 2021-02-01 2022-01-31 08853066 core:WithinOneYear 2022-01-31 08853066 core:AfterOneYear 2022-01-31 08853066 core:ShareCapital 2022-01-31 08853066 core:RetainedEarningsAccumulatedLosses 2022-01-31 08853066 2022-02-01 2023-01-31 08853066 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08853066 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08853066 bus:Director40 2022-02-01 2023-01-31 08853066 1 2022-02-01 2023-01-31 08853066 2 2022-02-01 2023-01-31 08853066 core:LandBuildings 2022-02-01 2023-01-31 08853066 core:PlantMachinery 2022-02-01 2023-01-31 08853066 core:Vehicles 2022-02-01 2023-01-31 08853066 countries:England 2022-02-01 2023-01-31 08853066 bus:FRS102 2022-02-01 2023-01-31 08853066 bus:FullAccounts 2022-02-01 2023-01-31 08853066 2023-01-31 08853066 core:WithinOneYear 2023-01-31 08853066 core:AfterOneYear 2023-01-31 08853066 core:ShareCapital 2023-01-31 08853066 core:RetainedEarningsAccumulatedLosses 2023-01-31 08853066 core:LandBuildings 2023-01-31 08853066 core:PlantMachinery 2023-01-31 08853066 core:Vehicles 2023-01-31 08853066 2022-01-31 08853066 core:LandBuildings 2022-01-31 08853066 core:PlantMachinery 2022-01-31 08853066 core:Vehicles 2022-01-31 iso4217:GBP xbrli:pure