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REGISTERED NUMBER: 09407124 (England and Wales)














G MEHTA LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






G MEHTA LTD (REGISTERED NUMBER: 09407124)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


G MEHTA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr G S Mehta
Mrs K Mehta





REGISTERED OFFICE: 24 Landgate
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 09407124 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

G MEHTA LTD (REGISTERED NUMBER: 09407124)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 119,563 127,035
Tangible assets 5 138,780 154,972
Investments 6 102,930 32,601
361,273 314,608

CURRENT ASSETS
Debtors 7 1,385,171 1,037,588
Cash at bank 271,371 248,377
1,656,542 1,285,965
CREDITORS
Amounts falling due within one year 8 1,062,831 622,506
NET CURRENT ASSETS 593,711 663,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

954,984

978,067

CREDITORS
Amounts falling due after more than one
year

9

(197,715

)

(140,474

)

PROVISIONS FOR LIABILITIES (34,696 ) (38,743 )
NET ASSETS 722,573 798,850

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 722,473 798,750
SHAREHOLDERS' FUNDS 722,573 798,850

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

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

The directors acknowledge their 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.

G MEHTA LTD (REGISTERED NUMBER: 09407124)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Dr G S Mehta - Director


G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

G Mehta 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 149,449 2 149,451
AMORTISATION
At 1 April 2023 22,416 - 22,416
Charge for year 7,472 - 7,472
At 31 March 2024 29,888 - 29,888
NET BOOK VALUE
At 31 March 2024 119,561 2 119,563
At 31 March 2023 127,033 2 127,035

G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 277,962 53,090 15,221 346,273
Additions 25,478 - 8,280 33,758
At 31 March 2024 303,440 53,090 23,501 380,031
DEPRECIATION
At 1 April 2023 141,709 36,292 13,300 191,301
Charge for year 40,434 4,200 5,316 49,950
At 31 March 2024 182,143 40,492 18,616 241,251
NET BOOK VALUE
At 31 March 2024 121,297 12,598 4,885 138,780
At 31 March 2023 136,253 16,798 1,921 154,972

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 244,498
DEPRECIATION
At 1 April 2023 123,164
Charge for year 30,334
At 31 March 2024 153,498
NET BOOK VALUE
At 31 March 2024 91,000
At 31 March 2023 121,334

G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 32,601
Additions 72,930
Revaluations (2,601 )
At 31 March 2024 102,930
NET BOOK VALUE
At 31 March 2024 102,930
At 31 March 2023 32,601

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2022 (22,898 )
Valuation in 2023 7,586
Valuation in 2024 (2,600 )
Cost 120,842
102,930

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,283 100,911
Amounts owed by associates 1,206,203 874,711
Other debtors 62,685 61,966
1,385,171 1,037,588

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,517 21,638
Other loans 30,539 -
Hire purchase contracts 48,065 56,866
Amounts owed to associates 217,524 54,990
Tax 57,068 73,861
Social security and other taxes 4,025 1,406
Other creditors 29,508 80,676
Directors' current accounts 69,033 668
Deferred income 582,055 330,000
Accrued expenses 2,497 2,401
1,062,831 622,506

G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 23,432 22,517
Bank loans - 2-5 years 26,531 49,963
Other loans - 1-2 years 34,108 -
Other loans - 2-5 years 89,792 -
Hire purchase contracts 23,852 67,994
197,715 140,474

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

G MEHTA LTD (REGISTERED NUMBER: 09407124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

Dr G Mehta who is a director of G Mehta Ltd is also a director of Mehta Property Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £144,805 (2023 - £144,805).

Dr G Mehta is also a director of Gmehtapropertybarnet Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £346,458 (2023 - £343,158).

Dr G Mehta is also a director of Fusion Dent Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £39,137 (2023 - £10,000).

Dr G Mehta is also a director of GM Dental Ashford Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £224,043 (2023 - £224,043).

Dr G Mehta is also a partner of GM Den Lab LLP. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £10,621 (2023 - £31,355).

Dr G Mehta is also a director of G Mehta Auction Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £94,989 (2023 - NIL).

Dr G Mehta is also a director of GM Head Office Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to G Mehta Ltd at the year end was £5,000 (2023 - NIL).

Dr G Mehta is also a director of Smilevalley Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to Smilevalley Ltd at the year end was £113,480 (2023 - £34,294).

Dr G Mehta is also a director of Gmvalley Limited. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to Gmvalley Ltd at the year end was £31,458 (2023 - NIL).