Registered number
14841011
GULYAZ LIMITED
Filleted Accounts
31 May 2024
GULYAZ LIMITED
Registered number: 14841011
Balance Sheet
as at 31 May 2024
Notes 2024
£
Fixed assets
Tangible assets 3 7,650
7,650
Current assets
Stocks 24,755
Debtors 4 100
Cash at bank and in hand 23,741
48,596
Creditors: amounts falling due within one year 5 (54,022)
Net current (liabilities)/assets (5,426)
Total assets less current liabilities 2,224
Net assets 2,224
Capital and reserves
Called up share capital 100
Share premium -
Revaluation reserve -
Profit and loss account 2,124
Shareholder's funds 2,224
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.
Ugur Yasin
Director
Approved by the board on 14 January 2025
GULYAZ LIMITED
Notes to the Accounts
for the year ended 31 May 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 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 - - - -
Additions - 8,500 - 8,500
Surplus on revaluation - - - -
Disposals - - - -
At 31 May 2024 - 8,500 - 8,500
Depreciation
At 1 June 2023 - - - -
Charge for the year - 850 - 850
Surplus on revaluation - - - -
On disposals - - - -
At 31 May 2024 - 850 - 850
Net book value
At 31 May 2024 - 7,650 - 7,650
4 Debtors 2024
£
Called up share capital 100
100
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 2,884
Taxation and social security costs 5,627
Director's accounts 45,511
54,022
6 Controlling party
Ugur Yasin
7 Other information
GULYAZ LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
260 Philip Lane
London
United Kingdom
N15 4AD
GULYAZ LIMITED 14841011 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Ugur Yasin No description of principal activity 14841011 2023-06-01 2024-05-31 14841011 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14841011 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14841011 bus:Director40 2023-06-01 2024-05-31 14841011 1 2023-06-01 2024-05-31 14841011 2 2023-06-01 2024-05-31 14841011 core:LandBuildings 2023-06-01 2024-05-31 14841011 core:PlantMachinery 2023-06-01 2024-05-31 14841011 core:Vehicles 2023-06-01 2024-05-31 14841011 countries:England 2023-06-01 2024-05-31 14841011 bus:FRS102 2023-06-01 2024-05-31 14841011 bus:FilletedAccounts 2023-06-01 2024-05-31 14841011 2024-05-31 14841011 core:WithinOneYear 2024-05-31 14841011 core:ShareCapital 2024-05-31 14841011 core:SharePremium 2024-05-31 14841011 core:OtherReservesSubtotal 2024-05-31 14841011 core:RetainedEarningsAccumulatedLosses 2024-05-31 14841011 core:LandBuildings 2024-05-31 14841011 core:PlantMachinery 2024-05-31 14841011 core:Vehicles 2024-05-31 14841011 2023-05-31 14841011 core:LandBuildings 2023-05-31 14841011 core:PlantMachinery 2023-05-31 14841011 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure