Company registration number 14729862 (England and Wales)
GOCHU GANG LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
GOCHU GANG LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GOCHU GANG LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
11,937
Current assets
Debtors
4
15,043
Cash at bank and in hand
3,073
18,116
Creditors: amounts falling due within one year
5
(36,948)
Net current liabilities
(18,832)
Net liabilities
(6,895)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(6,995)
Total equity
(6,895)
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 17 February 2025 and are signed on its behalf by:
Ms N McIntyre
Director
Company registration number 14729862 (England and Wales)
GOCHU GANG LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Gochu Gang Limited is a private company limited by shares incorporated in England and Wales. The registered office is 46 St James Street, Walthamstow, London, E17 7PE.
1.1
Reporting period
The company was incorporated on 14 March 2023, and these financial statements relate to the first period of trading to 31 March 2024. No comparative figures exist.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future with the continued support of the Directors.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Straight line over the remaining length of lease
Plant and equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
GOCHU GANG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
4
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 14 March 2023
Additions
10,193
8,216
18,409
At 31 March 2024
10,193
8,216
18,409
Depreciation and impairment
At 14 March 2023
Depreciation charged in the period
4,924
1,548
6,472
At 31 March 2024
4,924
1,548
6,472
Carrying amount
At 31 March 2024
5,269
6,668
11,937
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
15,043
GOCHU GANG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
5,336
Other creditors
31,612
36,948
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
£
7,333