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REGISTERED NUMBER: 12396619 (England and Wales)


Financial Statements for the Year Ended 31 January 2023

for

Gagans Food & Wine Ltd

Gagans Food & Wine Ltd (Registered number: 12396619)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gagans Food & Wine Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mr Gurmeet Singh





REGISTERED OFFICE: Flat 8 Oakley House
Oakfield Close
Smethwick
United Kingdom
B66 3JY





REGISTERED NUMBER: 12396619 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Gagans Food & Wine Ltd (Registered number: 12396619)

Statement of Financial Position
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 30,000
Property, plant and equipment 5 2,810 2,813
32,810 32,813

CURRENT ASSETS
Inventories 46,525 42,332
Debtors 6 346,484 4,600
Cash at bank and in hand 3,432 228,310
396,441 275,242
CREDITORS
Amounts falling due within one year 7 393,327 263,008
NET CURRENT ASSETS 3,114 12,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,924

45,047

CREDITORS
Amounts falling due after more than one
year

8

33,333

43,333
NET ASSETS 2,591 1,714

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,491 1,614
SHAREHOLDERS' FUNDS 2,591 1,714

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

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

Gagans Food & Wine Ltd (Registered number: 12396619)

Statement of Financial Position - continued
31 January 2023


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 director and authorised for issue on 26 October 2023 and were signed by:





Mr Gurmeet Singh - Director


Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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 - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 30,000
NET BOOK VALUE
At 31 January 2023 30,000
At 31 January 2022 30,000

Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 1 5,000 5,001
Additions - 933 933
At 31 January 2023 1 5,933 5,934
DEPRECIATION
At 1 February 2022 - 2,188 2,188
Charge for year - 936 936
At 31 January 2023 - 3,124 3,124
NET BOOK VALUE
At 31 January 2023 1 2,809 2,810
At 31 January 2022 1 2,812 2,813

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 341,884 -
Other debtors 4,600 4,600
346,484 4,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 188,490 177,535
Taxation and social security 12,000 6,264
Other creditors 192,837 79,209
393,327 263,008

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 33,333 43,333

Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Share capital 1 £1 100 100