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Registered Number: 05198092
England and Wales

 

 

 

G K GAIN LTD


Abridged Accounts
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 11,255    14,995 
11,255    14,995 
Current assets      
Stocks 820    820 
Debtors 7,434    25,239 
Cash at bank and in hand 27,171    408 
35,425    26,467 
Creditors: amount falling due within one year (19,066)   (18,157)
Net current assets 16,359    8,310 
 
Total assets less current liabilities 27,614    23,305 
Creditors: amount falling due after more than one year (4,036)   (7,495)
Net assets 23,578    15,810 
 

Capital and reserves
     
Called up share capital 50    50 
Profit and loss account 23,528    15,760 
Shareholder's funds 23,578    15,810 
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 November 2023 and were signed by:


-------------------------------
Gerald Keith Gain
Director
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General Information
G K Gain Ltd is a private company, limited by shares, registered in England and Wales, registration number 05198092, registration address 172 Penns Lane, Wylde Green, Sutton Coldfield, England, B76 1JT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2022 7,500    7,500 
Additions  
Disposals  
At 31 August 2023 7,500    7,500 
Amortisation
At 01 September 2022 7,500    7,500 
Charge for year  
On disposals  
At 31 August 2023 7,500    7,500 
Net book values
At 31 August 2023  
At 31 August 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 September 2022 673    19,767    869    21,309 
Additions      
Disposals      
At 31 August 2023 673    19,767    869    21,309 
Depreciation
At 01 September 2022 649    4,942    723    6,314 
Charge for year 5    3,706    29    3,740 
On disposals      
At 31 August 2023 654    8,648    752    10,054 
Net book values
Closing balance as at 31 August 2023 19    11,119    117    11,255 
Opening balance as at 01 September 2022 24    14,825    146    14,995 


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