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REGISTERED NUMBER: 05267964 (England and Wales)


Financial Statements for the Year Ended 31 October 2023

for

Gorakang Limited

Gorakang Limited (Registered number: 05267964)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gorakang Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr Kulwant Singh Gora
Mr Amandeep Singh Kang





SECRETARY: Mr Amandeep Singh Kang





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 05267964 (England and Wales)





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

Gorakang Limited (Registered number: 05267964)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 650,000 650,000

CURRENT ASSETS
Cash at bank 133,306 104,274

CREDITORS
Amounts falling due within one year 5 15,105 17,076
NET CURRENT ASSETS 118,201 87,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

768,201

737,198

PROVISIONS FOR LIABILITIES 36,862 36,862
NET ASSETS 731,339 700,336

CAPITAL AND RESERVES
Called up share capital 6 24 24
Revaluation reserve 7 194,012 194,012
Retained earnings 537,303 506,300
SHAREHOLDERS' FUNDS 731,339 700,336

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Gorakang Limited (Registered number: 05267964)

Statement of Financial Position - continued
31 October 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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr Kulwant Singh Gora - Director


Gorakang Limited (Registered number: 05267964)

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

1. STATUTORY INFORMATION

Gorakang 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.

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.

Tangible fixed assets
No depreciation is provided on freehold properties. There are no other fixed assets.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Land and
buildings
£   
COST
At 1 November 2022
and 31 October 2023 650,000
NET BOOK VALUE
At 31 October 2023 650,000
At 31 October 2022 650,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Taxation and social security 7,272 9,743
Other creditors 7,833 7,333
15,105 17,076

Gorakang Limited (Registered number: 05267964)

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

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
24 Ordinary £1 24 24

7. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 194,012

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loan given to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr Kulwant Singh Gora
Balance outstanding at start of year - 11,000
Amounts repaid - (11,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr Amandeep Singh Kang
Balance outstanding at start of year - 91,000
Amounts repaid - (91,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Other debtors include loans to directors, which has been repaid within 9 months after the year end.