Registered number
11990253
GENCOOGULLARI LTD
Filleted Accounts
31 May 2024
GENCOOGULLARI LTD
Registered number: 11990253
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,991 7,901
Current assets
Stocks 4,520 4,395
Debtors 4 - 2,430
Cash at bank and in hand 11,254 21,964
15,774 28,789
Creditors: amounts falling due within one year 5 (21,125) (12,969)
Net current (liabilities)/assets (5,351) 15,820
Total assets less current liabilities 20,640 23,721
Creditors: amounts falling due after more than one year 6 (58,000) (45,000)
Net liabilities (37,360) (21,279)
Capital and reserves
Called up share capital 100 100
Profit and loss account (37,460) (21,379)
Shareholder's funds (37,360) (21,279)
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.
Onder ERKAN
Director
Approved by the board on 19 February 2025
GENCOOGULLARI LTD
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, at rates calculated to write off the cost, less estimated residual value, as follows:
Fixtures, fittings and equipment 18% Reducing balance
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.
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 corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 June 2023 12,045
Additions 19,513
At 31 May 2024 31,558
Depreciation
At 1 June 2023 4,144
Charge for the year 1,423
At 31 May 2024 5,567
Net book value
At 31 May 2024 25,991
At 31 May 2023 7,901
4 Debtors 2024 2023
£ £
Prepayments & other debtors - 2,430
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accrued expenses & other creditors 365 2,310
Other taxes and social security costs 10,215 5,279
Other creditors 10,545 5,380
21,125 12,969
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 58,000 45,000
7 Other information
GENCOOGULLARI LTD is a private company limited by shares and incorporated in England. Its registered office is:
6 Castle Street
Hastings
East Sussex
TN34 3DY
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