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REGISTERED NUMBER: NI656571 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

G J Coast Ltd

G J Coast Ltd (Registered number: NI656571)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G J Coast Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mrs A McCloskey





REGISTERED OFFICE: 117 Collinward Avenue
Newtownabbey
Belfast
Co. Antrim
BT36 6DZ





REGISTERED NUMBER: NI656571 (Northern Ireland)





ACCOUNTANTS: Toman Accountancy Services Ltd
Unit HF 9, Twin Spires Complex
Howard Buildings
155 Northumberland Street
Belfast
Antrim
BT13 2JF

G J Coast Ltd (Registered number: NI656571)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,900 4,620
Tangible assets 5 26,723 32,731
30,623 37,351

CURRENT ASSETS
Stocks 54,975 52,500
Debtors 6 32,332 57,607
Cash at bank and in hand 8,394 16,130
95,701 126,237
CREDITORS
Amounts falling due within one year 7 74,627 76,942
NET CURRENT ASSETS 21,074 49,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,697

86,646

CREDITORS
Amounts falling due after more than one
year

8

(43,061

)

(54,261

)

PROVISIONS FOR LIABILITIES (5,500 ) (6,411 )
NET ASSETS 3,136 25,974

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 3,036 25,973
SHAREHOLDERS' FUNDS 3,136 25,974

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

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

The director acknowledges her 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 J Coast Ltd (Registered number: NI656571)

Statement of Financial Position - continued
31 October 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 and authroised for issue by the director and authorised for issue on 30 October 2024 and were signed by:





Mrs A McCloskey - Director


G J Coast Ltd (Registered number: NI656571)

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

1. STATUTORY INFORMATION

G J Coast Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In preparing these financial statements the director has made the following judgements:

Determine whether there are indicators of impairment of the company's fixed assets. Factors taken into account include economic viability and future expected financial performance of the business in general. Estimates are made in respect of the recoverable value of stock. When assessing the level of provisions required, factors considered include age and condition of stock. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 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.

Financial instruments
All financial statements of the company are considered to meet the definition of basic financial instruments.

-Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

-Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

G J Coast Ltd (Registered number: NI656571)

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

2. ACCOUNTING POLICIES - continued

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 16 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 7,200
AMORTISATION
At 1 November 2022 2,580
Charge for year 720
At 31 October 2023 3,300
NET BOOK VALUE
At 31 October 2023 3,900
At 31 October 2022 4,620

G J Coast Ltd (Registered number: NI656571)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2022 16,674 35,151 51,825
Additions - 7,415 7,415
At 31 October 2023 16,674 42,566 59,240
DEPRECIATION
At 1 November 2022 5,239 13,855 19,094
Charge for year 2,859 10,564 13,423
At 31 October 2023 8,098 24,419 32,517
NET BOOK VALUE
At 31 October 2023 8,576 18,147 26,723
At 31 October 2022 11,435 21,296 32,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 32,332 57,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 3,402 5,394
Trade creditors 35,933 26,546
Taxation and social security 25,885 24,028
Other creditors 9,407 20,974
74,627 76,942

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 38,061 43,261
Other creditors 5,000 11,000
43,061 54,261

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 38,061 43,261

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A McCloskey.