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REGISTERED NUMBER: 12757065 (England and Wales)










GK FOODS (INVERNESS) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






GK FOODS (INVERNESS) LTD (REGISTERED NUMBER: 12757065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GK FOODS (INVERNESS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: Mr V Kumar
Mr G Singh





SECRETARY:





REGISTERED OFFICE: 21 Audlem Road
Stafford
ST18 0GN





REGISTERED NUMBER: 12757065 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

GK FOODS (INVERNESS) LTD (REGISTERED NUMBER: 12757065)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,770 15,694

CURRENT ASSETS
Stocks 25,255 37,225
Debtors 5 18,948 10,591
Cash at bank and in hand 43,422 7,885
87,625 55,701
CREDITORS
Amounts falling due within one year 6 52,894 61,442
NET CURRENT ASSETS/(LIABILITIES) 34,731 (5,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,501

9,953

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,401 9,853
SHAREHOLDERS' FUNDS 46,501 9,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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.

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 27th October 2023 and were signed on its behalf by:





Mr V Kumar - Director


GK FOODS (INVERNESS) LTD (REGISTERED NUMBER: 12757065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Gk Foods (Inverness) 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.

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

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GK FOODS (INVERNESS) LTD (REGISTERED NUMBER: 12757065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022
and 31st July 2023 27,900
DEPRECIATION
At 1st August 2022 12,206
Charge for year 3,924
At 31st July 2023 16,130
NET BOOK VALUE
At 31st July 2023 11,770
At 31st July 2022 15,694

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,063 5,357
Other debtors 3,885 5,234
18,948 10,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,227 8,345
Taxation and social security 9,503 3,377
Other creditors 32,164 49,720
52,894 61,442

7. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.