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REGISTERED NUMBER: 02801390 (England and Wales)










GIGA SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GIGA SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr R H Dhokia





SECRETARY: Mrs H R Dhokia





REGISTERED OFFICE: Enterprise House
Courtaulds Way
Coventry
West Midlands
CV6 5NX





REGISTERED NUMBER: 02801390 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,088 298

CURRENT ASSETS
Stocks 2,463 3,125
Debtors 5 15,759 40,181
Investments 6 85,651 81,424
Cash at bank 47,811 130,377
151,684 255,107
CREDITORS
Amounts falling due within one year 7 40,815 37,119
NET CURRENT ASSETS 110,869 217,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,957

218,286

PROVISIONS FOR LIABILITIES 8,376 7,573
NET ASSETS 111,581 210,713

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 34,626 31,204
Retained earnings 76,953 179,507
SHAREHOLDERS' FUNDS 111,581 210,713

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

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

GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)

BALANCE SHEET - continued
31 MARCH 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 14 December 2023 and were signed by:





Mr R H Dhokia - Director


GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Giga Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

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 - 25% 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments
Investments held as current assets are stated at market value..

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 21,594
Additions 11,820
At 31 March 2023 33,414
DEPRECIATION
At 1 April 2022 21,296
Charge for year 3,030
At 31 March 2023 24,326
NET BOOK VALUE
At 31 March 2023 9,088
At 31 March 2022 298

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 12,164 40,181
Other debtors 3,595 -
15,759 40,181

6. CURRENT ASSET INVESTMENTS

Current asset investments represents listed investments whose fair value is determined by reference to quoted price for identical assets in an active market at the balance sheet date. At 31 March 2023 the market value of these investments was £85,650 (2022: £81,425).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 9,648 18,570
Taxation and social security 519 (12,097 )
Other creditors 30,648 30,646
40,815 37,119

8. RESERVES

Fair value reserve represents fair value adjustment in respect of current asset investments which is not available for distribution as they are unrealised.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £28,447 (2022: £28,400) owed to Mr R Dhokia, the sole director. The amount is unsecured and interest free with no set terms for repayment.

GIGA SOLUTIONS LIMITED (REGISTERED NUMBER: 02801390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. RELATED PARTY DISCLOSURES

Dividends paid to the director and connected person in their capacity as the shareholders of the company amounted to £30,000 (2022: £30,000).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R H Dhokia.