GFS 3 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
GFS 3 Ltd is a private company limited by shares, and incorporated in England and Wales. The company registration number is 12266361 and the registered office is 2nd Floor, Mutual House, 70 Conduit Street, London, England, W1S 2GF.
The company was incorporated on 16 October 2019 and has not traded since incorporation. The financial statements are prepared for the year 1 October 2023 to 30 September 2024.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on a going concern basis under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
The following principal accounting policies have been applied:
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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