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REGISTERED NUMBER: 06933503 (England and Wales)


Goldstar GS Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Goldstar GS Limited (Registered number: 06933503)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Goldstar GS Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr A Eren
Mr E Eren





REGISTERED OFFICE: Edgware Food Centre
161-163 Station Road
Edgware
Middlesex
HA8 7JS





REGISTERED NUMBER: 06933503 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Goldstar GS Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Goldstar GS Limited for the year ended 31 March 2024 which comprise the Abridged Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Goldstar GS Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Goldstar GS Limited and state those matters that we have agreed to state to the Board of Directors of Goldstar GS Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Goldstar GS Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Goldstar GS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Goldstar GS Limited. You consider that Goldstar GS Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Goldstar GS Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


31 January 2025

Goldstar GS Limited (Registered number: 06933503)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,998 118,176

CURRENT ASSETS
Stocks 5 228,918 302,619
Debtors 6 445,242 378,158
Cash at bank and in hand 280,661 227,834
954,821 908,611
CREDITORS
Amounts falling due within one year 7 273,576 213,072
NET CURRENT ASSETS 681,245 695,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,243

813,715

CREDITORS
Amounts falling due after more than one
year

8

(40,411

)

(71,039

)

PROVISIONS FOR LIABILITIES 10 (3,861 ) (8,943 )
NET ASSETS 718,971 733,733

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 718,871 733,633
SHAREHOLDERS' FUNDS 718,971 733,733

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.

Goldstar GS Limited (Registered number: 06933503)

Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by:





Mr A Eren - Director


Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Goldstar GS Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. There were no major items in the financial statements where these judgements and estimates have been made.

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 is recognised when the customer takes delivery of the goods and it is derived from the ordinary activities of the business.

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.
Short leasehold - straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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

Cost is determined on a first in first out basis. Net realisable value represents selling price less any cost to sell. Provision is made for perishable and slow moving items where the net realisable value is less than cost.


Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 - 21 ) .

Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 2,216 166,217 65,821 126,759 361,013
Disposals - - - (29,988 ) (29,988 )
At 31 March 2024 2,216 166,217 65,821 96,771 331,025
DEPRECIATION
At 1 April 2023 779 126,971 45,505 69,582 242,837
Charge for year 370 7,849 4,063 8,395 20,677
Eliminated on disposal - - - (14,487 ) (14,487 )
At 31 March 2024 1,149 134,820 49,568 63,490 249,027
NET BOOK VALUE
At 31 March 2024 1,067 31,397 16,253 33,281 81,998
At 31 March 2023 1,437 39,246 20,316 57,177 118,176

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 126,759
Disposals (29,988 )
At 31 March 2024 96,771
DEPRECIATION
At 1 April 2023 69,582
Charge for year 8,395
Eliminated on disposal (14,487 )
At 31 March 2024 63,490
NET BOOK VALUE
At 31 March 2024 33,281
At 31 March 2023 57,177

5. STOCKS
2024 2023
£    £   
Stocks 228,918 302,619

Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,284 12,326
Highview Property Inv. Co. Ltd 171,085 171,085
Greens N12 Ltd 160,130 160,130
Social security and other tax 1,418 -
Prepayments 80,325 34,617
445,242 378,158

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,561 11,995
Hire purchase contracts (see note 9) 7,466 10,428
Trade creditors 100,466 101,439
Tax 87,427 59,799
Social security and other taxes - 4,610
VAT 31,094 6,846
Net wages control account 8,099 4,221
Pensions control account 411 447
Directors' current accounts 1,004 381
Accruals and deferred income 14,400 -
Accrued expenses 12,648 12,906
273,576 213,072

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,888 9,888
Bank loans - 2-5 years 5,963 15,809
Hire purchase contracts (see note 9) 24,560 45,342
40,411 71,039

Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,466 10,428
Between one and five years 24,560 45,342
32,026 55,770

Non-cancellable operating leases
2024 2023
£    £   
Within one year 62,400 62,400
Between one and five years 118,133 180,533
180,533 242,933

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,861 8,943

Deferred
tax
£   
Balance at 1 April 2023 8,943
Credit to Income Statement during year (5,082 )
Balance at 31 March 2024 3,861

11. CALLED UP SHARE CAPITAL

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

Goldstar GS Limited (Registered number: 06933503)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

12. RESERVES
Retained
earnings
£   

At 1 April 2023 733,633
Profit for the year 235,238
Dividends (250,000 )
At 31 March 2024 718,871

13. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024 2023
£    £   
Amount due from related parties 331,215 331,215
Transfers from related parties - 11,599
Rent received 62,400 41,097