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REGISTERED NUMBER: 05927577 (England and Wales)















Financial statements for the year ended 31 December 2023

For

GG Distribution Chain Ltd

GG Distribution Chain Ltd (Registered number: 05927577)

Contents of the financial statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 4

Notes to the Financial Statements 6


GG Distribution Chain Ltd

Company information
for the Year Ended 31 December 2023







DIRECTOR: Mr G Golubickas





REGISTERED OFFICE: 5 Bernal Close
London
SE28 8NN





REGISTERED NUMBER: 05927577 (England and Wales)





ACCOUNTANTS: Parker Russell UK
Chartered Accountants
Level 30
The Leadenhall Building
122 Leadenhall Street
City of London
EC3V 4AB

Chartered accountants' report to the director
On the unaudited financial statements of
Gg distribution chain ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GG Distribution Chain Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of GG Distribution Chain Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GG Distribution Chain Ltd and state those matters that we have agreed to state to the director of GG Distribution Chain Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GG Distribution Chain Ltd and its director for our work or for this report.

It is your duty to ensure that GG Distribution Chain Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GG Distribution Chain Ltd. You consider that GG Distribution Chain Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GG Distribution Chain Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Parker Russell UK
Chartered Accountants
Level 30
The Leadenhall Building
122 Leadenhall Street

Chartered accountants' report to the director
On the unaudited financial statements of
Gg distribution chain ltd


City of London
EC3V 4AB


20 September 2024

GG Distribution Chain Ltd (Registered number: 05927577)

Balance sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 73,321 142,134

Current assets
Stocks 53,400 45,700
Debtors 5 22,132 14,000
Cash at bank 1,104 541
76,636 60,241
Creditors
Amounts falling due within one year 6 93,280 142,288
Net current liabilities (16,644 ) (82,047 )
Total assets less current liabilities 56,677 60,087

Creditors
Amounts falling due after more than
one year

7

48,592

58,514
Net assets 8,085 1,573

GG Distribution Chain Ltd (Registered number: 05927577)

Balance sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Capital and reserves
Called up share capital 8 100 100
Retained earnings 7,985 1,473
Shareholders' funds 8,085 1,573

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





Mr G Golubickas - Director


GG Distribution Chain Ltd (Registered number: 05927577)

Notes to the financial statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

GG Distribution Chain 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


GG Distribution Chain Ltd (Registered number: 05927577)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 26 ) .

GG Distribution Chain Ltd (Registered number: 05927577)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 3,796 264,106 3,970 271,872
Disposals - (89,990 ) - (89,990 )
At 31 December 2023 3,796 174,116 3,970 181,882
DEPRECIATION
At 1 January 2023 3,433 122,559 3,746 129,738
Charge for year 91 24,293 56 24,440
Eliminated on disposal - (45,617 ) - (45,617 )
At 31 December 2023 3,524 101,235 3,802 108,561
NET BOOK VALUE
At 31 December 2023 272 72,881 168 73,321
At 31 December 2022 363 141,547 224 142,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.23 31.12.22
£    £   
Trade debtors 22,132 14,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 41,449 59,306
Hire purchase contracts 3,539 30,387
Net Wages 15,100 -
Trade creditors 629 2,301
Taxation and social security 24,713 49,444
Other creditors 7,850 850
93,280 142,288

GG Distribution Chain Ltd (Registered number: 05927577)

Notes to the financial statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 25,833 -
Hire purchase contracts - 58,391
Other creditors 22,759 123
48,592 58,514

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G Golubickas.