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REGISTERED NUMBER: NI615788 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GNJ LTD

GNJ LTD (REGISTERED NUMBER: NI615788)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


GNJ LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G McErlean
N McErlean





REGISTERED OFFICE: 17 Clarendon Road, Clarendon Dock
Belfast
BT1 3BG





REGISTERED NUMBER: NI615788 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

GNJ LTD (REGISTERED NUMBER: NI615788)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 166,358 27,884

CURRENT ASSETS
Debtors 5 461,329 336,724
Prepayments and accrued income 226 226
Cash at bank and in hand 10,873 47,176
472,428 384,126
CREDITORS
Amounts falling due within one year 6 136,094 242,975
NET CURRENT ASSETS 336,334 141,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

502,692

169,035

CREDITORS
Amounts falling due after more than one
year

7

(197,856

)

-

PROVISIONS FOR LIABILITIES (28,311 ) (187 )
NET ASSETS 276,525 168,848

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 276,523 168,846
SHAREHOLDERS' FUNDS 276,525 168,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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.

GNJ LTD (REGISTERED NUMBER: NI615788)

BALANCE SHEET - continued
31 MARCH 2024



The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:




G McErlean - Director



N McErlean - Director


GNJ LTD (REGISTERED NUMBER: NI615788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

GNJ 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 directors have made the following judgements:

Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets and the business in general.

Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provisions required, factors considered include current experience of debtor book, historical rates of non-recoverability and the ageing profile of debtors.

The directors also 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 balance sheet date.


GNJ LTD (REGISTERED NUMBER: NI615788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to profit or loss over the shorter of estimated useful economic life and the term of the lease.

Financial instruments
All financial instruments 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.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

GNJ LTD (REGISTERED NUMBER: NI615788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 64,946
Additions 170,689
Disposals (27,200 )
At 31 March 2024 208,435
DEPRECIATION
At 1 April 2023 37,062
Charge for year 25,709
Eliminated on disposal (20,694 )
At 31 March 2024 42,077
NET BOOK VALUE
At 31 March 2024 166,358
At 31 March 2023 27,884

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by related parties 378,438 302,040
Other debtors 82,891 34,684
461,329 336,724

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 59,039 76,994
Finance leases 18,678 6,981
Trade creditors 3,112 3,401
Taxation and social security 14,575 86,645
Other creditors 40,690 68,954
136,094 242,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 70,894 -
Finance leases 126,962 -
197,856 -

GNJ LTD (REGISTERED NUMBER: NI615788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. SECURED DEBTS

£59,040 of the bank loans are secured by a fixed and floating charge which covers all of the undertakings of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At year end there are amounts owing from the directors to the company of £70,747.

The amount is unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

Transactions with directors have been disclosed in the note above.

At year end there is an amount due from a related party of £378,438 (2023: £302,040). The amount is interest free, unsecured and repayable on demand.

There were no other transactions with related parties which were required to be disclosed in accordance with FRS 102 Section 1A.