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REGISTERED NUMBER: 05606474 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

G-KIT Ltd

G-KIT Ltd (Registered number: 05606474)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G-KIT Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: M Britton
Mrs S Britton





SECRETARY: Mrs S Britton





REGISTERED OFFICE: Moore
6th Floor
Whitefriars Lewins Mead
Bristol
BS1 2NT





REGISTERED NUMBER: 05606474 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
6th Floor
Whitefriars
Lewins Mead
Bristol
BS1 2NT

G-KIT Ltd (Registered number: 05606474)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,808 6,411

CURRENT ASSETS
Debtors 5 131,848 83,414
Cash at bank and in hand 38,258 61,518
170,106 144,932
CREDITORS
Amounts falling due within one year 6 143,032 125,782
NET CURRENT ASSETS 27,074 19,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,882

25,561

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 31,782 25,461
SHAREHOLDERS' FUNDS 31,882 25,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

G-KIT Ltd (Registered number: 05606474)

Balance Sheet - continued
30 November 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 27 August 2024 and were signed on its behalf by:





M Britton - Director


G-KIT Ltd (Registered number: 05606474)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

G-KIT Ltd 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
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

G-KIT Ltd (Registered number: 05606474)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 12,695 6,937 17,495 37,127
DEPRECIATION
At 1 December 2022 12,695 4,678 13,343 30,716
Charge for year - 565 1,038 1,603
At 30 November 2023 12,695 5,243 14,381 32,319
NET BOOK VALUE
At 30 November 2023 - 1,694 3,114 4,808
At 30 November 2022 - 2,259 4,152 6,411

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 52,200 -
Amounts owed by group undertakings 68,633 64,697
Other debtors 11,015 18,717
131,848 83,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Payments on account 45,419 52,460
Trade creditors 18,720 3,120
Taxation and social security 7,635 5,081
Other creditors 71,258 65,121
143,032 125,782

G-KIT Ltd (Registered number: 05606474)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.23 30.11.22
£    £   
Within one year 4,883 -
Between one and five years 27,554 -
32,437 -

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the directors £64,287 (2022 - £58,502). This amount is interest-free, and is disclosed within other creditors in the accounts.

10. RELATED PARTY DISCLOSURES

The amount owed by SM (Felton) Property Development Ltd at the year end was £68,633 (2022 - £64,697). SM (Felton) Property Development Ltd is a company in which the directors, Mr M Britton and Mrs S Britton, are also directors and shareholders.This amount is disclosed within debtors.