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Registered number: 09119501














GA & SF LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
GA & SF LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7

 
GA & SF LIMITED
REGISTERED NUMBER:09119501

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,671
4,539

  
3,671
4,539

Current assets
  

Debtors: amounts falling due within one year
 5 
36,106
44,189

Cash at bank and in hand
 6 
6,655
85,131

  
42,761
129,320

Creditors: amounts falling due within one year
 7 
(50,141)
(57,214)

Net current (liabilities)/assets
  
 
 
(7,380)
 
 
72,106

Total assets less current liabilities
  
(3,709)
76,645

Provisions for liabilities
  

Deferred tax
 8 
-
(1,127)

  
 
 
-
 
 
(1,127)

Net (liabilities)/assets
  
(3,709)
75,518


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(3,711)
75,516

  
(3,709)
75,518


1

 
GA & SF LIMITED
REGISTERED NUMBER:09119501
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N G L Andersson
Director

Date: 16 January 2025

The notes on pages 3 to 7 form part of these financial statements.

2

 
GA & SF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

GA & SF Limited is a private company, limited by shares, registered in England and Wales,  registration number 09119501. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of consultancy services provided in the music and media industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of consultancy services for the music and media industry during the year net of trade discounts.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3

 
GA & SF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Straight line
Computer equipment
-
25%
Straight line
Other fixed assets
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

4

 
GA & SF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 

 
2.10

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 August 2022
585
11,467
2,555
14,607


Additions
-
2,070
-
2,070



At 31 July 2023

585
13,537
2,555
16,677



Depreciation


At 1 August 2022
585
8,461
1,022
10,068


Charge for the year 
-
2,427
511
2,938



At 31 July 2023

585
10,888
1,533
13,006



Net book value



At 31 July 2023
-
2,649
1,022
3,671



At 31 July 2022
-
3,006
1,533
4,539

5

 
GA & SF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
19,356
5,000

Other debtors
-
22,439

Tax recoverable
16,750
16,750

36,106
44,189



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
6,655
85,131



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,200
25,452

Other taxation and social security
785
834

Other creditors
35,413
22,132

Accruals
12,743
8,796

50,141
57,214



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,127)
(1,750)


Charged to profit or loss
1,127
623



At end of year
-
(1,127)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(1,127)

6

 
GA & SF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.0 each
2
2



10.


Related party transactions

At the year end, the company owed £31,760 (2022 - the directors owed £5,061 to the company) to the directors. The loan is repayable on demand and interest of £359 (2022 - £616) was charged at the HMRC official rate.

 
7