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REGISTERED NUMBER: 13244600 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GFS LONDON HOLDINGS LIMITED

GFS LONDON HOLDINGS LIMITED (REGISTERED NUMBER: 13244600)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GFS LONDON HOLDINGS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2022







DIRECTOR: S Nandi





REGISTERED OFFICE: 10 London Mews
LONDON
W2 1HY





REGISTERED NUMBER: 13244600 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

GFS LONDON HOLDINGS LIMITED (REGISTERED NUMBER: 13244600)

BALANCE SHEET
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,294,902 -

CURRENT ASSETS
Debtors 5 963,015 772
Cash at bank and in hand 278,946 836,935
1,241,961 837,707
CREDITORS
Amounts falling due within one year 6 99,267 997,176
NET CURRENT ASSETS/(LIABILITIES) 1,142,694 (159,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,437,596

(159,469

)

CAPITAL AND RESERVES
Called up share capital 10,001 1
Share premium 8 1,284,773 -
Other reserves 8 1,048,378 -
Retained earnings 8 94,444 (159,470 )
SHAREHOLDERS' FUNDS 2,437,596 (159,469 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 9 November 2023 and were signed by:




S Nandi - Director


GFS LONDON HOLDINGS LIMITED (REGISTERED NUMBER: 13244600)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

GFS London Holdings 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.

Going concern
At the balance sheet date the company has a net deficit and is reliant on the continued support of its creditors. The director considers the going concern basis to be appropriate and therefore the financial statements do not include any adjustments that might result from the withdrawal of support from its creditors.

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

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments in joint venture
Investment in joint venture is recognised at the carrying value at the date of transfer.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
Additions 1,294,902
At 31 December 2022 1,294,902
NET BOOK VALUE
At 31 December 2022 1,294,902

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 445,146 -
Other debtors 517,869 -
VAT - 772
963,015 772

GFS LONDON HOLDINGS LIMITED (REGISTERED NUMBER: 13244600)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Tax 22,388 -
Social security and other taxes 1,156 2,478
VAT 73,673 -
Other creditors - 992,458
Accrued expenses 2,050 2,240
99,267 997,176

7. FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

8. RESERVES

Included in reserves are undistributable reserves of £1,048,378 (2021:£Nil).