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REGISTERED NUMBER: 11041266 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

GT SOFT FURNISHINGS LIMITED

GT SOFT FURNISHINGS LIMITED (REGISTERED NUMBER: 11041266)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GT SOFT FURNISHINGS LIMITED

Company Information
for the Year Ended 30 November 2023







Directors: G Thames
T Thames





Registered office: Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN





Registered number: 11041266 (England and Wales)





Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

GT SOFT FURNISHINGS LIMITED (REGISTERED NUMBER: 11041266)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 27,395 22,186

Current assets
Stocks 60,000 2,255
Debtors 6 363,866 331,344
Cash at bank 210,490 112,999
634,356 446,598
Creditors
Amounts falling due within one year 7 375,931 215,421
Net current assets 258,425 231,177
Total assets less current liabilities 285,820 253,363

Creditors
Amounts falling due after more than one
year

8

18,333

28,333
Net assets 267,487 225,030

Capital and reserves
Called up share capital 9 100 100
Retained earnings 267,387 224,930
Shareholders' funds 267,487 225,030

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:



G Thames - Director


GT SOFT FURNISHINGS LIMITED (REGISTERED NUMBER: 11041266)

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


1. Statutory information

GT Soft Furnishings 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GT SOFT FURNISHINGS LIMITED (REGISTERED NUMBER: 11041266)

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


3. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 6 (2022 - 5 ) .

5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 December 2022 1,381 28,599 - 29,980
Additions - 8,196 4,687 12,883
At 30 November 2023 1,381 36,795 4,687 42,863
Depreciation
At 1 December 2022 980 6,814 - 7,794
Charge for year 100 7,496 78 7,674
At 30 November 2023 1,080 14,310 78 15,468
Net book value
At 30 November 2023 301 22,485 4,609 27,395
At 30 November 2022 401 21,785 - 22,186

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 324,776 325,230
Other debtors 39,090 6,114
363,866 331,344

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 272,251 60,844
Taxation and social security 93,680 127,597
Other creditors - 16,980
375,931 215,421

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 18,333 28,333

GT SOFT FURNISHINGS LIMITED (REGISTERED NUMBER: 11041266)

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


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. Directors' advances, credits and guarantees

At the year end the directors owed the company £38,084 (2022 - £16,480 was owed to G Thames from the company). Advances during the year were £54,800 (2022 - £52,051) and credits were £236 (2022 - £67,853) Interest is payable on the outstanding amount.