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Registered number: 13063251
Gul Associates Ltd
Financial Statements
For The Year Ended 31 May 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13063251
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,867 96,454
82,867 96,454
CURRENT ASSETS
Cash at bank and in hand 122 113
122 113
Creditors: Amounts Falling Due Within One Year 5 (79,368 ) (77,519 )
NET CURRENT ASSETS (LIABILITIES) (79,246 ) (77,406 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,621 19,048
NET ASSETS 3,621 19,048
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 3,521 18,948
SHAREHOLDERS' FUNDS 3,621 19,048
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss S Khan
Director
13/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gul Associates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13063251 . The registered office is 1 Beauchamp Court, 10 Victors Way, Barnet, Hertfordshire, EN5 5TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10 years
Fixtures & Fittings 15% on cost
Computer Equipment 20% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 60,542 41,663 6,417 108,622
As at 31 May 2024 60,542 41,663 6,417 108,622
Depreciation
As at 1 June 2023 4,036 6,249 1,883 12,168
Provided during the period 6,054 6,249 1,284 13,587
As at 31 May 2024 10,090 12,498 3,167 25,755
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 50,452 29,165 3,250 82,867
As at 1 June 2023 56,506 35,414 4,534 96,454
5. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Trade creditors 426 2
Other creditors 76,531 75,056
Taxation and social security 2,411 2,461
79,368 77,519
6. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4