Registered number
07572982
GOLDSTAR DRY CLEANERS (UK) LIMITED
Filleted Accounts
31 March 2024
GOLDSTAR DRY CLEANERS (UK) LIMITED
Registered number: 07572982
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 255,898
Current assets
Stocks 6,850
Debtors 4 13,224
Cash at bank and in hand 49,769
69,843
Creditors: amounts falling due within one year 5 (198,362)
Net current liabilities (128,519)
Total assets less current liabilities 127,379
Creditors: amounts falling due after more than one year 6 (35,489)
Net assets 91,890
Capital and reserves
Called up share capital 100
Profit and loss account 91,790
Shareholder's funds 91,890
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ziaul HAQUE
Director
Approved by the board on 17 December 2024
GOLDSTAR DRY CLEANERS (UK) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024
Number
Average number of persons employed by the company 22
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 243,326 34,542 277,868
Additions 95,337 17,950 113,287
At 31 March 2024 338,663 52,492 391,155
Depreciation
At 1 April 2023 102,067 8,667 110,734
Charge for the year 23,326 1,197 24,523
At 31 March 2024 125,393 9,864 135,257
Net book value
At 31 March 2024 213,270 42,628 255,898
At 31 March 2023 141,259 25,875 167,134
4 Debtors 2024
£
Trade debtors 3,324
Other debtors 9,900
13,224
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 16,416
Taxation and social security costs 32,081
Other creditors 149,865
198,362
6 Creditors: amounts falling due after one year 2024
£
Bank loans 20,338
Obligations under finance lease and hire purchase contracts 15,151
35,489
7 Other information
GOLDSTAR DRY CLEANERS (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
330 Burdett Road
London
United Kingdom
E14 7DL
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