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Company Registration No. 11609673 (England and Wales)
G&S SUPPLIER LTD Unaudited accounts for the year ended 31 October 2023
G&S SUPPLIER LTD Unaudited accounts Contents
Page
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G&S SUPPLIER LTD Company Information for the year ended 31 October 2023
Directors
Khushiman Gurung Rajeev Sangroula
Company Number
11609673 (England and Wales)
Registered Office
19 CITY ROAD WINCHESTER SO23 8SD ENGLAND
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G&S SUPPLIER LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,039 
6,919 
Current assets
Inventories
21,662 
26,778 
Debtors
5,790 
4,759 
Cash at bank and in hand
1,270 
3,089 
28,722 
34,626 
Creditors: amounts falling due within one year
(82,285)
(55,469)
Net current liabilities
(53,563)
(20,843)
Total assets less current liabilities
(49,524)
(13,924)
Creditors: amounts falling due after more than one year
(24,578)
(21,528)
Provisions for liabilities
Deferred tax
(1,267)
(1,298)
Other provisions
1,338 
- 
71 
(1,298)
Net liabilities
(74,031)
(36,750)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(74,131)
(36,850)
Shareholders' funds
(74,031)
(36,750)
For the year ending 31 October 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 30 July 2024 and were signed on its behalf by
Rajeev Sangroula Director Company Registration No. 11609673
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G&S SUPPLIER LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
G&S SUPPLIER LTD is a private company, limited by shares, registered in England and Wales, registration number 11609673. The registered office is 19 CITY ROAD, WINCHESTER, SO23 8SD, ENGLAND.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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G&S SUPPLIER LTD Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
6,615 
6,000 
782 
13,397 
Additions
- 
- 
1,012 
1,012 
Disposals
- 
(6,000)
- 
(6,000)
At 31 October 2023
6,615 
- 
1,794 
8,409 
Depreciation
At 1 November 2022
3,169 
2,928 
381 
6,478 
Charge for the year
689 
358 
131 
1,178 
On disposals
- 
(3,286)
- 
(3,286)
At 31 October 2023
3,858 
- 
512 
4,370 
Net book value
At 31 October 2023
2,757 
- 
1,282 
4,039 
At 31 October 2022
3,446 
3,072 
401 
6,919 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
316 
765 
Trade debtors
1,750 
369 
Other debtors
3,724 
3,625 
5,790 
4,759 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
37,452 
36,989 
Obligations under finance leases and hire purchase contracts
- 
3,050 
Trade creditors
9,467 
3,823 
Amounts owed to group undertakings and other participating interests
475 
475 
Taxes and social security
6,780 
2,588 
Other creditors
- 
2,998 
Loans from directors
26,390 
2,325 
Accruals
1,721 
3,221 
82,285 
55,469 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,578 
21,528 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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