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REGISTERED NUMBER: 12396619 (England and Wales)


Financial Statements for the Year Ended 31 January 2024

for

Gagans Food & Wine Ltd

Gagans Food & Wine Ltd (Registered number: 12396619)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gagans Food & Wine Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr Gurmeet Singh





REGISTERED OFFICE: Flat 8 Oakley House
Oakfield Close
Smethwick
United Kingdom
B66 3JY





REGISTERED NUMBER: 12396619 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Gagans Food & Wine Ltd (Registered number: 12396619)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 30,000
Property, plant and equipment 5 - 2,810
- 32,810

CURRENT ASSETS
Inventories - 46,525
Debtors 6 44,455 346,484
Cash at bank and in hand 3,210 3,432
47,665 396,441
CREDITORS
Amounts falling due within one year 7 13,710 393,327
NET CURRENT ASSETS 33,955 3,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,955

35,924

CREDITORS
Amounts falling due after more than one
year

8

33,333

33,333
NET ASSETS 622 2,591

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 522 2,491
SHAREHOLDERS' FUNDS 622 2,591

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gagans Food & Wine Ltd (Registered number: 12396619)

Statement of Financial Position - continued
31 January 2024


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.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





Mr Gurmeet Singh - Director


Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Gagans Food & Wine Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Revenue 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.
Plant and machinery etc - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023 30,000
Additions 233,178
Disposals (263,178 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 30,000

Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 1 5,933 5,934
Additions 1 - 1
Disposals (2 ) (5,933 ) (5,935 )
At 31 January 2024 - - -
DEPRECIATION
At 1 February 2023 - 3,124 3,124
Charge for year - 117 117
Eliminated on disposal - (3,241 ) (3,241 )
At 31 January 2024 - - -
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 1 2,809 2,810

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 44,455 341,884
Other debtors - 4,600
44,455 346,484

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors - 188,490
Taxation and social security 8,248 12,000
Other creditors 5,462 192,837
13,710 393,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 33,333 33,333

Gagans Food & Wine Ltd (Registered number: 12396619)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Share capital 1 £1 100 100