1 May 2023 false No description of principal activity Taxfiler 2024.6 SC593858business:PrivateLimitedCompanyLtd2023-05-012024-04-30 SC5938582023-04-30 SC5938582023-05-012024-04-30 SC593858business:AuditExemptWithAccountantsReport2023-05-012024-04-30 SC593858business:FilletedAccounts2023-05-012024-04-30 SC5938582024-04-30 SC593858business:Director12023-05-012024-04-30 SC593858business:RegisteredOffice2023-05-012024-04-30 SC5938582023-04-30 SC593858core:WithinOneYear2024-04-30 SC593858core:WithinOneYear2023-04-30 SC593858core:AfterOneYear2024-04-30 SC593858core:AfterOneYear2023-04-30 SC593858core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 SC593858core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 SC593858core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 SC593858core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 SC593858core:PreviouslyStatedAmount2024-04-30 SC593858core:PreviouslyStatedAmount2023-04-30 SC593858business:SmallEntities2023-05-012024-04-30 SC593858countries:Scotland2023-05-012024-04-30 SC593858core:WithinOneYear2023-05-012024-04-30 SC593858core:AfterOneYear2023-05-012024-04-30 SC593858business:OrdinaryShareClass12023-05-012024-04-30 SC593858business:OrdinaryShareClass12022-05-012023-04-30 SC5938582022-05-012023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC593858 (Scotland)
Galkot Ghumti Ltd Unaudited accounts for the year ended 30 April 2024
Galkot Ghumti Ltd Unaudited accounts Contents
Page
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Galkot Ghumti Ltd Company Information for the year ended 30 April 2024
Director
Navin Kandel
Company Number
SC593858 (Scotland)
Registered Office
96 North Hugh Street Musselburgh EH21 6AS United Kingdom
Accountants
Accounting Solutions (UK) Ltd 85 Great Portland Street First Floor London W1W 7LT
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Galkot Ghumti Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
449,500 
449,500 
Current assets
Debtors
- 
1,100 
Cash at bank and in hand
33,098 
25,162 
33,098 
26,262 
Creditors: amounts falling due within one year
(236,307)
(209,551)
Net current liabilities
(203,209)
(183,289)
Total assets less current liabilities
246,291 
266,211 
Creditors: amounts falling due after more than one year
(210,003)
(245,426)
Net assets
36,288 
20,785 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
36,188 
20,685 
Shareholders' funds
36,288 
20,785 
For the year ending 30 April 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 January 2024 and were signed on its behalf by
Navin Kandel Director Company Registration No. SC593858
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Galkot Ghumti Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Galkot Ghumti Ltd is a private company, limited by shares, registered in Scotland, registration number SC593858. The registered office is 96 North Hugh Street, Musselburgh, EH21 6AS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2024 
£ 
Fair value at 1 May 2023
449,500 
At 30 April 2024
449,500 
In the opinion of the director, the investment properties are shown at fair value at the balance sheet date.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,100 
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Galkot Ghumti Ltd Notes to the Accounts for the year ended 30 April 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
13,000 
23,000 
VAT
610 
- 
Taxes and social security
3,637 
2,402 
Other creditors
- 
15,000 
Loans from directors
218,076 
168,169 
Accruals
984 
980 
236,307 
209,551 
At the year end, company was due £99,660 to Boxroom Investments Limited. This loan is secured against company's property at 1 Imrie Place, Penicuik, EH26 8HY. This loan attracts 6% interest per annum on outstanding amount.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
210,003 
245,426 
At the year end, company was due £99,660 to Boxroom Investments Limited. This loan is secured against company's property at 1 Imrie Place, Penicuik, EH26 8HY. This loan attracts 6% interest per annum on outstanding amount. At the year end, company was due £123,343 to Together Commercial Finance Limited. This loan is secured against company's property at 112 High Street, Galashiels, Scotland, TD1 1SQ. This loan attracts 8.49% interest per annum is payable in 10 years.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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