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REGISTERED NUMBER: 09320652 (England and Wales)


Financial Statements for the Year Ended 30 November 2023

for

Gill's Store Ltd

Gill's Store Ltd (Registered number: 09320652)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gill's Store Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr Navjot Singh Gill
Mr Amarjit Singh Gill
Mrs Paramjit Kaur Gill





REGISTERED OFFICE: 104 Trallwn Road
Llansamlet
Swansea
SA7 9XA





REGISTERED NUMBER: 09320652 (England and Wales)





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

Gill's Store Ltd (Registered number: 09320652)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 165,000 165,000
Property, plant and equipment 5 54,100 94,652
219,100 259,652

CURRENT ASSETS
Inventories 122,665 111,779
Debtors 6 1,910 31,333
Cash at bank and in hand 56,942 52,537
181,517 195,649
CREDITORS
Amounts falling due within one year 7 140,255 108,276
NET CURRENT ASSETS 41,262 87,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,362

347,025

CREDITORS
Amounts falling due after more than one
year

8

26,487

146,653
NET ASSETS 233,875 200,372

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 233,775 200,272
SHAREHOLDERS' FUNDS 233,875 200,372

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.

Gill's Store Ltd (Registered number: 09320652)

Statement of Financial Position - 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 17 October 2024 and were signed on its behalf by:





Mr Amarjit Singh Gill - Director


Gill's Store Ltd (Registered number: 09320652)

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

1. STATUTORY INFORMATION

Gill's Store 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 - 25% 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 33 (2022 - 53 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 165,000
NET BOOK VALUE
At 30 November 2023 165,000
At 30 November 2022 165,000

Gill's Store Ltd (Registered number: 09320652)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 December 2022 161,546
Additions 45,744
Disposals (78,555 )
At 30 November 2023 128,735
DEPRECIATION
At 1 December 2022 66,894
Charge for year 15,924
Eliminated on disposal (8,183 )
At 30 November 2023 74,635
NET BOOK VALUE
At 30 November 2023 54,100
At 30 November 2022 94,652

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors - 22,256
Other debtors 1,910 9,077
1,910 31,333

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 62,508 56,280
Taxation and social security 30,564 35,669
Other creditors 47,183 16,327
140,255 108,276

Gill's Store Ltd (Registered number: 09320652)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 26,487 38,609
Hire purchase contracts - 108,044
26,487 146,653

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

During the year, the company has paid rent of £12,000 (£12,000 : 2022) in respect of use of business property "104 Trallwn Road, Llansamlet, Swansea, SA7 9XA" owned by the directors.

During the year, the company has paid rent of £13,800 (£13,800 : 2022) in respect of use of business property "1 Leonard Street, Neath, West Glamorgan, SA11 3HW" owned by the directors.

During the year, the company has paid rent of £12,600 (£12,600 : 2022) in respect of use of business property "1 Tan Y Rhiw Road, Resolven, Neath, Glamorganshire, SA11 4NB" owned by the directors.