Registered number
10409378
GOZ LTD
Filleted Accounts
31 October 2023
GOZ LTD
Registered number: 10409378
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 112,342 73,535
Current assets
Stocks 44,096 50,346
Debtors 4 347 20,520
Cash at bank and in hand 16,002 11,601
60,445 82,467
Creditors: amounts falling due within one year 5 (59,044) (19,421)
Net current assets 1,401 63,046
Total assets less current liabilities 113,743 136,581
Creditors: amounts falling due after more than one year 6 (97,451) (136,505)
Net assets 16,292 76
Capital and reserves
Called up share capital 1 1
Profit and loss account 16,291 75
Shareholder's funds 16,292 76
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 member has 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.
Mr Zeki Iyiguven
Director
Approved by the board on 26 July 2024
GOZ LTD
Notes to the Accounts
for the year ended 31 October 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:
Fixtures, fittings, tools and equipment over 5 years
Plant and machinery over 5 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 32,040 15,384 68,283 115,707
Additions - 68,324 - 68,324
At 31 October 2023 32,040 83,708 68,283 184,031
Depreciation
At 1 November 2022 18,753 4,594 18,825 42,172
Charge for the year 3,803 15,823 9,891 29,517
At 31 October 2023 22,556 20,417 28,716 71,689
Net book value
At 31 October 2023 9,484 63,291 39,567 112,342
At 31 October 2022 13,287 10,790 49,458 73,535
4 Debtors 2023 2022
£ £
Trade debtors (11,802) -
Other debtors 12,149 20,520
347 20,520
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 18,416 4,206
Taxation and social security costs 12,833 (13,234)
Other creditors 27,795 28,449
59,044 19,421
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 83,261 124,654
Obligations under finance lease and hire purchase contracts 7,973 11,851
Other creditors 6,217 -
97,451 136,505
7 Other information
GOZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
105 Brantwood Road
Tottenham
London
UK
N17 0DX
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