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REGISTERED NUMBER: 11678261 (England and Wales)


Financial Statements for the Year Ended 31 December 2023

for

G & G Retail Ltd

G & G Retail Ltd (Registered number: 11678261)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G & G Retail Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr Sidhraj Bhimaji Odedra
Mrs Kusumben Sidhraj Odedra





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
United Kingdom
CV6 4AD





REGISTERED NUMBER: 11678261 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

G & G Retail Ltd (Registered number: 11678261)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 74,565 74,565
Property, plant and equipment 5 152,390 143,583
226,955 218,148

CURRENT ASSETS
Inventories 38,357 36,729
Debtors 6 7,636 642
Cash at bank and in hand 28,902 26,463
74,895 63,834
CREDITORS
Amounts falling due within one year 7 67,687 59,760
NET CURRENT ASSETS 7,208 4,074
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,163

222,222

CREDITORS
Amounts falling due after more than one
year

8

173,582

176,296
NET ASSETS 60,581 45,926

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 60,381 45,726
SHAREHOLDERS' FUNDS 60,581 45,926

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 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 & G Retail Ltd (Registered number: 11678261)

Statement of Financial Position - continued
31 December 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 25 September 2024 and were signed on its behalf by:





Mr Sidhraj Bhimaji Odedra - Director


G & G Retail Ltd (Registered number: 11678261)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

G & G Retail 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 74,565
NET BOOK VALUE
At 31 December 2023 74,565
At 31 December 2022 74,565

G & G Retail Ltd (Registered number: 11678261)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 100,000 97,060 197,060
Additions - 21,905 21,905
At 31 December 2023 100,000 118,965 218,965
DEPRECIATION
At 1 January 2023 - 53,477 53,477
Charge for year - 13,098 13,098
At 31 December 2023 - 66,575 66,575
NET BOOK VALUE
At 31 December 2023 100,000 52,390 152,390
At 31 December 2022 100,000 43,583 143,583

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,606 -
Other debtors 3,030 642
7,636 642

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 39,376 43,506
Taxation and social security 22,171 9,620
Other creditors 6,140 6,634
67,687 59,760

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 149,688 176,296
Hire purchase contracts 23,894 -
173,582 176,296

G & G Retail Ltd (Registered number: 11678261)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200 Share capital 1 £1 200 200