Registered number
06647322
Gajit Software Ltd
Unaudited Filleted Accounts
31 July 2023
Gajit Software Ltd
Registered number: 06647322
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 3,931 1,440
Cash at bank and in hand 14,881 17,111
18,812 18,551
Creditors: amounts falling due within one year 5 (6,876) (5,633)
Net current assets 11,936 12,918
Net assets 11,936 12,918
Capital and reserves
Called up share capital 100 100
Profit and loss account 11,836 12,818
Shareholders' funds 11,936 12,918
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G A Jones
Director
Approved by the board on 5 March 2024
Gajit Software Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 809
At 31 July 2023 809
Depreciation
At 1 August 2022 809
At 31 July 2023 809
Net book value
At 31 July 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 3,931 1,440
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 360 360
Director's current account 1,312 1,312
Corporation Tax & other taxes 5,157 3,961
PAYE and NI 47 -
6,876 5,633
6 Other information
Gajit Software Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Briar Close
Banbury
Oxon.
OX16 9DS
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