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REGISTERED NUMBER: 10160438 (England and Wales)


Financial Statements for the Year Ended 31 May 2023

for

Goldwire Convenience Store Ltd

Goldwire Convenience Store Ltd (Registered number: 10160438)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Goldwire Convenience Store Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr Sorinder Singh Bal





REGISTERED OFFICE: 28 Goldwire Lane
Monmouth Wales
NP25 5AG





REGISTERED NUMBER: 10160438 (England and Wales)





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

Goldwire Convenience Store Ltd (Registered number: 10160438)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,999 39,999
Property, plant and equipment 5 27,949 20,432
67,948 60,431

CURRENT ASSETS
Inventories 67,854 64,830
Debtors 6 18,225 18,725
Cash at bank and in hand 194,561 185,675
280,640 269,230
CREDITORS
Amounts falling due within one year 7 292,383 279,985
NET CURRENT LIABILITIES (11,743 ) (10,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,205

49,676

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 56,105 49,576
SHAREHOLDERS' FUNDS 56,205 49,676

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

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

Goldwire Convenience Store Ltd (Registered number: 10160438)

Statement of Financial Position - continued
31 May 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 1 February 2024 and were signed by:





Mr Sorinder Singh Bal - Director


Goldwire Convenience Store Ltd (Registered number: 10160438)

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

1. STATUTORY INFORMATION

Goldwire Convenience Store 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.

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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 39,999
NET BOOK VALUE
At 31 May 2023 39,999
At 31 May 2022 39,999

Goldwire Convenience Store Ltd (Registered number: 10160438)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2022 68,072
Additions 16,833
At 31 May 2023 84,905
DEPRECIATION
At 1 June 2022 47,640
Charge for year 9,316
At 31 May 2023 56,956
NET BOOK VALUE
At 31 May 2023 27,949
At 31 May 2022 20,432

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 17,150 17,150
Other debtors 1,075 1,575
18,225 18,725

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 11,618 8,524
Taxation and social security 7,214 18,168
Other creditors 273,551 253,293
292,383 279,985

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

Goldwire Convenience Store Ltd (Registered number: 10160438)

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

9. RELATED PARTY DISCLOSURES

During the year, the Company has paid rent of £17,329 (2022:£17,329) in respect of use of business property owned by the directors