GN Sports Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. No provision for deferred tax has been made since the directors are of the opinion that no liability will crystallise in the foreseeable future. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
4,000 |
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5,500 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Taxation and social security costs |
770 |
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1,408 |
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Other creditors |
3,824 |
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8,591 |
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4,594 |
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9,999 |
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5 |
Other information |
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GN Sports Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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1 Herringbone Apartments |
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1 Courthouse Way |
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London |
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SW18 4PF |