GAFFSY LIMITED Filleted Accounts Cover
GAFFSY LIMITED
Company No. 12403344
Information for Filing with The Registrar
31 January 2024
GAFFSY LIMITED Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 January 2024.
Principal activities
The principal activity of the company during the year under review was management of real estate and residential properties.
Directors
The Directors who served at any time during the year were as follows:
O. Kander
M. Levy
M.S. Royston
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
M.S. Royston
Director
31 October 2024
GAFFSY LIMITED Balance Sheet Registrar
at
31 January 2024
Company No.
12403344
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
434-
434-
Current assets
Stocks
5
550,447419,832
Debtors
6
62,294-
Cash at bank and in hand
39,65624,440
652,397444,272
Creditors: Amount falling due within one year
7
(769,539)
(489,350)
Net current liabilities
(117,142)
(45,078)
Total assets less current liabilities
(116,708)
(45,078)
Net liabilities
(116,708)
(45,078)
Capital and reserves
Called up share capital
100100
Profit and loss account
9
(116,808)
(45,178)
Total equity
(116,708)
(45,078)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 October 2024 and signed on its behalf by:
M.S. Royston
Director
31 October 2024
GAFFSY LIMITED Notes to the Accounts Registrar
for the year ended 31 January 2024
1
General information
GAFFSY LIMITED is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12403344
Its registered office is:
Unit 617
The Shepherd's Building
Charecroft Way
London, England
W14 0EE
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
42
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
Additions
542542
At 31 January 2024
542542
Depreciation
Charge for the year
108108
At 31 January 2024
108108
Net book values
At 31 January 2024
434434
5
Stocks
2024
2023
£
£
Work in progress
-19,000
Finished goods
550,447400,832
550,447419,832
6
Debtors
2024
2023
£
£
Other debtors
62,294-
62,294-
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
4,5483,738
Taxes and social security
1,987
-
Loans from directors
37,58165,192
Other creditors
722,010419,878
Accruals and deferred income
3,413542
769,539489,350
8
Share Capital
100
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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