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Registered number: 13535556
Gk (Rls) Ltd
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13535556
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,000 24,750
Tangible Assets 5 111,234 136,459
133,234 161,209
CURRENT ASSETS
Stocks 6 10,253 6,500
Debtors 7 6,244 41,962
Cash at bank and in hand 6,849 8,274
23,346 56,736
Creditors: Amounts Falling Due Within One Year 8 (206,923 ) (147,752 )
NET CURRENT ASSETS (LIABILITIES) (183,577 ) (91,016 )
TOTAL ASSETS LESS CURRENT LIABILITIES (50,343 ) 70,193
Creditors: Amounts Falling Due After More Than One Year 9 (29,847 ) (79,770 )
NET LIABILITIES (80,190 ) (9,577 )
CAPITAL AND RESERVES
Called up share capital 11 20 20
Share premium account 69,990 69,990
Profit and Loss Account (150,200 ) (79,587 )
SHAREHOLDERS' FUNDS (80,190) (9,577)
Page 1
Page 2
For the year 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Hamirani
Director
31st July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gk (Rls) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13535556 . The registered office is 96 Warwick Street, Leamington Spa, CV32 4QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Franchise Costs. It is amortised to the profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on Cost
Fixtures & Fittings 20% on Cost
Computer Equipment 20% on Cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: NIL)
18 -
Page 3
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4. Intangible Assets
Other
£
Cost
As at 1 August 2022 27,500
As at 31 July 2023 27,500
Amortisation
As at 1 August 2022 2,750
Provided during the period 2,750
As at 31 July 2023 5,500
Net Book Value
As at 31 July 2023 22,000
As at 1 August 2022 24,750
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 83,099 84,150 3,325 170,574
Additions 1,322 9,790 - 11,112
As at 31 July 2023 84,421 93,940 3,325 181,686
Depreciation
As at 1 August 2022 16,620 16,830 665 34,115
Provided during the period 16,884 18,788 665 36,337
As at 31 July 2023 33,504 35,618 1,330 70,452
Net Book Value
As at 31 July 2023 50,917 58,322 1,995 111,234
As at 1 August 2022 66,479 67,320 2,660 136,459
6. Stocks
2023 2022
£ £
Work in progress 10,253 6,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,830 -
Other debtors 4,414 41,962
6,244 41,962
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 49,923 49,923
Trade creditors 6,647 47,315
Bank loans and overdrafts 2,225 13,347
Other creditors 130,205 37,167
Taxation and social security 17,923 -
206,923 147,752
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 29,847 79,770
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 49,923 49,923
Later than one year and not later than five years 29,847 79,770
79,770 129,693
79,770 129,693
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
12. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr Afzal Hamirani (16,967 ) - 51,097 - (68,064 )
The above loan is unsecured, interest free and repayable on demand.
Page 5