IRIS Accounts Production v23.3.0.418 05241777 Board of Directors 1.10.22 30.9.23 30.9.23 the import ot timber products and there resale. false true false false false true true true true true true true true true true true true true true true true false false false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure052417772022-09-30052417772023-09-30052417772022-10-012023-09-30052417772021-09-30052417772021-10-012022-09-30052417772022-09-3005241777ns16:EnglandWales2022-10-012023-09-3005241777ns15:PoundSterling2022-10-012023-09-3005241777ns11:Director12022-10-012023-09-3005241777ns11:PrivateLimitedCompanyLtd2022-10-012023-09-3005241777ns11:FRS1012022-10-012023-09-3005241777ns11:AuditExemptWithAccountantsReport2022-10-012023-09-3005241777ns11:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3005241777ns11:FullAccounts2022-10-012023-09-300524177712022-10-012023-09-300524177712022-10-012023-09-3005241777ns11:OrdinaryShareClass12022-10-012023-09-3005241777ns11:Director22022-10-012023-09-3005241777ns11:CompanySecretary12022-10-012023-09-3005241777ns11:RegisteredOffice2022-10-012023-09-3005241777ns6:CurrentFinancialInstruments2023-09-3005241777ns6:CurrentFinancialInstruments2022-09-3005241777ns6:Non-currentFinancialInstruments2023-09-3005241777ns6:Non-currentFinancialInstruments2022-09-3005241777ns6:ShareCapital2023-09-3005241777ns6:ShareCapital2022-09-3005241777ns6:RetainedEarningsAccumulatedLosses2023-09-3005241777ns6:RetainedEarningsAccumulatedLosses2022-09-3005241777ns6:ShareCapital2021-09-3005241777ns6:RetainedEarningsAccumulatedLosses2021-09-3005241777ns6:RetainedEarningsAccumulatedLosses2021-10-012022-09-3005241777ns6:RetainedEarningsAccumulatedLosses2022-10-012023-09-3005241777ns6:PlantMachinery2022-10-012023-09-3005241777ns6:MotorVehicles2022-10-012023-09-3005241777ns6:OwnedAssets2022-10-012023-09-3005241777ns6:OwnedAssets2021-10-012022-09-3005241777ns11:OrdinaryShareClass12021-10-012022-09-3005241777ns6:Goodwill2022-09-3005241777ns6:Goodwill2023-09-3005241777ns6:Goodwill2022-09-3005241777ns6:PlantMachinery2022-09-3005241777ns6:MotorVehicles2022-09-3005241777ns6:ComputerEquipment2022-09-3005241777ns6:ComputerEquipment2022-10-012023-09-3005241777ns6:PlantMachinery2023-09-3005241777ns6:MotorVehicles2023-09-3005241777ns6:ComputerEquipment2023-09-3005241777ns6:PlantMachinery2022-09-3005241777ns6:MotorVehicles2022-09-3005241777ns6:ComputerEquipment2022-09-3005241777ns6:CurrentFinancialInstrumentsns6:WithinOneYear2023-09-3005241777ns6:CurrentFinancialInstrumentsns6:WithinOneYear2022-09-3005241777ns6:Non-currentFinancialInstrumentsns6:BetweenOneTwoYears2023-09-3005241777ns6:Non-currentFinancialInstrumentsns6:BetweenOneTwoYears2022-09-3005241777ns11:OrdinaryShareClass12023-09-3005241777ns6:RetainedEarningsAccumulatedLosses2022-09-30
REGISTERED NUMBER: 05241777 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2023

for

G A Imports Ltd

G A Imports Ltd (Registered number: 05241777)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Other Comprehensive Income 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


G A Imports Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: G Atherton
Mrs D M Atherton





SECRETARIES: G Atherton
Mrs D M Atherton





REGISTERED OFFICE: 6 First Avenue
Halstead
Essex
CO9 2EX





REGISTERED NUMBER: 05241777 (England and Wales)





ACCOUNTANTS: Frost & Co
3 Windermere Road
Sudbury
Suffolk
CO10 2QD

G A Imports Ltd (Registered number: 05241777)

Report of the Directors
for the Year Ended 30 September 2023

The directors present their report with the financial statements of the company for the year ended 30 September 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

G Atherton
Mrs D M Atherton

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





G Atherton - Director


20 November 2023

G A Imports Ltd (Registered number: 05241777)

Income Statement
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

TURNOVER 3,229,268 3,611,362

Cost of sales (2,688,298 ) (3,020,418 )
GROSS PROFIT 540,970 590,944

Administrative expenses (359,139 ) (372,081 )
181,831 218,863

Other operating income 16,074 61,104
OPERATING PROFIT 197,905 279,967


Interest payable and similar expenses 4 (29,595 ) (9,538 )
PROFIT BEFORE TAXATION 5 168,310 270,429

Tax on profit 6 (39,003 ) (52,254 )
PROFIT FOR THE FINANCIAL YEAR 129,307 218,175

G A Imports Ltd (Registered number: 05241777)

Other Comprehensive Income
for the Year Ended 30 September 2023

30.9.23 30.9.22
Notes £    £   

PROFIT FOR THE YEAR 129,307 218,175


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

129,307

218,175

G A Imports Ltd (Registered number: 05241777)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 9,030 14,060
9,030 14,060

CURRENT ASSETS
Stocks 10 683,891 555,769
Debtors 11 323,135 447,718
Cash at bank 208,702 113,247
1,215,728 1,116,734
CREDITORS
Amounts falling due within one year 12 (873,424 ) (814,767 )
NET CURRENT ASSETS 342,304 301,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,334

316,027

CREDITORS
Amounts falling due after more than one
year

13

(40,000

)

(60,000

)
NET ASSETS 311,334 256,027

CAPITAL AND RESERVES
Called up share capital 15 2 2
Retained earnings 16 311,332 256,025
SHAREHOLDERS' FUNDS 311,334 256,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

G A Imports Ltd (Registered number: 05241777)

Balance Sheet - continued
30 September 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:





G Atherton - Director


G A Imports Ltd (Registered number: 05241777)

Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 October 2021 2 137,850 137,852

Changes in equity
Dividends - (100,000 ) (100,000 )
Total comprehensive income - 218,175 218,175
Balance at 30 September 2022 2 256,025 256,027

Changes in equity
Dividends - (74,000 ) (74,000 )
Total comprehensive income - 129,307 129,307
Balance at 30 September 2023 2 311,332 311,334

G A Imports Ltd (Registered number: 05241777)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

G A Imports 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 preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii),
B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued
Operations;
the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;
the requirements of IFRS 7 Financial Instruments: Disclosures;
the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of
IFRS 16 Leases;
the requirements of paragraph 58 of IFRS 16;
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to
(c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative
information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to
136 of IAS 1;
the requirements of IAS 7 Statement of Cash Flows;
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates
and Errors;
the requirements of paragraph 74(b) of IAS 16;
the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into
between two or more members of a group;
the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

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 - 20% on cost
Motor vehicles - 20% on cost

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

G A Imports Ltd (Registered number: 05241777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

Employee benefit costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
30.9.23 30.9.22
£    £   
Wages and salaries 85,802 87,065
Social security costs 1,868 1,804
Other pension costs 56,000 54,320
143,670 143,189

The average number of employees during the year was as follows:
30.9.23 30.9.22

Employees 5 4

30.9.23 30.9.22
£    £   
Directors' remuneration 18,192 17,940
Directors' pension contributions to money purchase schemes 56,000 54,320

4. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.23 30.9.22
£    £   
Bank loan interest 29,595 -
Loan - 9,538
29,595 9,538

5. PROFIT BEFORE TAXATION

The profit before taxation is stated after charging/(crediting):
30.9.23 30.9.22
£    £   
Cost of inventories recognised as expense 2,688,298 3,020,418
Depreciation - owned assets 5,030 5,030
Profit on disposal of fixed assets - (417 )

G A Imports Ltd (Registered number: 05241777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. TAXATION

Analysis of tax expense
30.9.23 30.9.22
£    £   
Current tax:
Tax 39,003 52,254
Total tax expense in income statement 39,003 52,254

7. DIVIDENDS
30.9.23 30.9.22
£    £   
Ordinary shares of 1 each
Interim 74,000 100,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 15,000
AMORTISATION
At 1 October 2022
and 30 September 2023 15,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

9. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 49,340 13,700 15,206 78,246
Disposals (10,892 ) - (12,000 ) (22,892 )
At 30 September 2023 38,448 13,700 3,206 55,354
DEPRECIATION
At 1 October 2022 43,500 5,480 15,206 64,186
Charge for year 2,290 2,740 - 5,030
Eliminated on disposal (10,892 ) - (12,000 ) (22,892 )
At 30 September 2023 34,898 8,220 3,206 46,324
NET BOOK VALUE
At 30 September 2023 3,550 5,480 - 9,030
At 30 September 2022 5,840 8,220 - 14,060

G A Imports Ltd (Registered number: 05241777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

10. STOCKS
30.9.23 30.9.22
£    £   
Stocks 683,891 555,769

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 314,019 432,692
Other debtors 9,116 15,026
323,135 447,718

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts (see note 14) 459,503 336,775
Trade creditors 200,321 218,087
Tax 39,003 91,530
Social security and other taxes 1,131 1,620
Pension Control 596 -
VAT 103,068 113,835
Other creditors 22,016 -
Directors' current accounts 41,786 42,720
Accruals and deferred income 6,000 10,200
873,424 814,767

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans (see note 14) 40,000 60,000

14. FINANCIAL LIABILITIES - BORROWINGS

30.9.23 30.9.22
£    £   
Current:
Bank overdrafts 186,080 76,866
Bank loans 20,503 22,500
HSBC Credit Controller 252,920 237,409
459,503 336,775

Non-current:
Bank loans - 1-2 years 40,000 60,000

G A Imports Ltd (Registered number: 05241777)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

14. FINANCIAL LIABILITIES - BORROWINGS - continued

Terms and debt repayment schedule

1 year or
less 2-5 years Totals
£    £    £   
Bank overdrafts 186,080 - 186,080
Bank loans 20,503 40,000 60,503
HSBC Credit Controller 252,920 - 252,920
459,503 40,000 499,503

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
2 Ordinary 1 2 2

16. RESERVES
Retained
earnings
£   

At 1 October 2022 256,025
Profit for the year 129,307
Dividends (74,000 )
At 30 September 2023 311,332