Company Registration No. 14225701 (England and Wales)
Gakhal Brothers Ltd
Unaudited accounts
for the period from 11 July 2022 to 31 July 2023
Gakhal Brothers Ltd
Unaudited accounts
Contents
Gakhal Brothers Ltd
Statement of financial position
as at 31 July 2023
Investment property
542,465
Cash at bank and in hand
11,304
Creditors: amounts falling due within one year
(452,855)
Net current liabilities
(441,551)
Total assets less current liabilities
100,914
Creditors: amounts falling due after more than one year
(98,780)
Called up share capital
100
Profit and loss account
2,034
For the period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by
Avtar Gakhal
Director
Company Registration No. 14225701
Gakhal Brothers Ltd
Notes to the Accounts
for the period from 11 July 2022 to 31 July 2023
Gakhal Brothers Ltd is a private company, limited by shares, registered in England and Wales, registration number 14225701. The registered office is 126 Hermon Hill, London, E18 1QB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 11 July 2022 to 31 July 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 11 July 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors are of the opinion that there is no significant change in the price of the property.
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Creditors: amounts falling due within one year
2023
Taxes and social security
507
Loans from directors
451,698
6
Creditors: amounts falling due after more than one year
2023
Gakhal Brothers Ltd
Notes to the Accounts
for the period from 11 July 2022 to 31 July 2023
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Transactions with related parties
During the year, the directors loaned the Company £451,698, to purchase the property and pay for expenses on behalf of the company. This loan is interest free and repayable on demand. At the balance sheet date, the Company owed the directors £451,698.
During the year, Gaks Wines Limited, a Company in which there is common interest, loaned Gakhal Brothers Ltd, £94,000. The loan is interest bearing at a rate of 9.66%, and is fixed for 5 years. At the balance sheet date, the Company owed Gaks Wines Limited, £97,380.
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Average number of employees
During the period the average number of employees was 2.