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REGISTERED NUMBER: 10295795 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022

FOR

G.S.I. SOHAL LIMITED

G.S.I. SOHAL LIMITED (REGISTERED NUMBER: 10295795)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.S.I. SOHAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2022







DIRECTORS: Mrs Sandip Kaur Sohal
Inderjit Singh Sohal





REGISTERED OFFICE: 170 Nuncargate Road
Kirkby in Ashfield
Nottingham
NG17 9EA





REGISTERED NUMBER: 10295795 (England and Wales)





ACCOUNTANTS: Altman Smith
461 - 463 London Road
Heeley
Sheffield
South Yorkshire
S2 4HL

G.S.I. SOHAL LIMITED (REGISTERED NUMBER: 10295795)

BALANCE SHEET
31ST AUGUST 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,000 16,000
Tangible assets 5 6,613 8,265
22,613 24,265

CURRENT ASSETS
Stocks 19,500 18,950
Debtors 6 555 494
Cash at bank and in hand 87,227 105,237
107,282 124,681
CREDITORS
Amounts falling due within one year 7 29,479 16,085
NET CURRENT ASSETS 77,803 108,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,416

132,861

CREDITORS
Amounts falling due after more than one year 8 52,043 52,043
NET ASSETS 48,373 80,818

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 48,371 80,816
48,373 80,818

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

G.S.I. SOHAL LIMITED (REGISTERED NUMBER: 10295795)

BALANCE SHEET - continued
31ST AUGUST 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 13th October 2023 and were signed on its behalf by:





Mrs Sandip Kaur Sohal - Director


G.S.I. SOHAL LIMITED (REGISTERED NUMBER: 10295795)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022

1. STATUTORY INFORMATION

G.S.I. Sohal 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.

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

Goodwill
The goodwill relates to a business acquired in 2016, this has not been amortized as yet due to the directors view that the value of goodwill has not reduced. This will be reviewed on an annual basis.

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.

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 etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

G.S.I. SOHAL LIMITED (REGISTERED NUMBER: 10295795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2021
and 31st August 2022 16,000
NET BOOK VALUE
At 31st August 2022 16,000
At 31st August 2021 16,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2021
and 31st August 2022 17,732
DEPRECIATION
At 1st September 2021 9,467
Charge for year 1,652
At 31st August 2022 11,119
NET BOOK VALUE
At 31st August 2022 6,613
At 31st August 2021 8,265

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 555 494

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 25,757 13,501
Other creditors 3,722 2,584
29,479 16,085

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 52,043 52,043