Company Registration No. 13324689 (England and Wales)
GX ONE LTD
Unaudited accounts
for the year ended 30 April 2024
GX ONE LTD
Unaudited accounts
Contents
GX ONE LTD
Company Information
for the year ended 30 April 2024
Directors
Dr M Shorafa
Dr F E Beizaei
Company Number
13324689 (England and Wales)
Registered Office
10 Dove Park
Chorleywood
Rickmansworth
WD3 5NY
England
Accountants
Warren Sharpe Associates
24 Rowland Place
Northwood
HA6 1AD
GX ONE LTD
Statement of financial position
as at 30 April 2024
Tangible assets
2,784
3,480
Investment property
2,489,246
1,727,334
Cash at bank and in hand
290,208
2,309
Creditors: amounts falling due within one year
(1,925,020)
(1,160,150)
Net current liabilities
(1,624,728)
(887,559)
Total assets less current liabilities
867,302
843,255
Creditors: amounts falling due after more than one year
(863,977)
(861,397)
Net assets/(liabilities)
3,325
(18,142)
Called up share capital
1,000
1,000
Profit and loss account
2,325
(19,142)
Shareholders' funds
3,325
(18,142)
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 directors acknowledge their 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 of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
Dr M Shorafa
Director
Company Registration No. 13324689
GX ONE LTD
Notes to the Accounts
for the year ended 30 April 2024
GX ONE LTD is a private company, limited by shares, registered in England and Wales, registration number 13324689. The registered office is 10 Dove Park, Chorleywood, Rickmansworth, WD3 5NY, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Turnover represents rent receivable during the year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
GX ONE LTD
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 May 2023
1,727,334
At 30 April 2024
2,489,246
As per director, there has been no change in valuation for the properties.
Amounts falling due within one year
Other debtors
10,084
270,282
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
1,846,474
1,080,822
Loans from directors
77,826
78,728
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
863,977
861,397
GX ONE LTD
Notes to the Accounts
for the year ended 30 April 2024
9
Transactions with related parties
During the year there were following loan balances included in creditors and were owed to :
£14,90,000 - Shorafa UK Ltd - A Company in which Dr M Shorafa & Dr F E Beizaei are director.
£3,50,000 - OMF Surgery Ltd - A Company in which Dr M Shorafa is director.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).