GF OILS & SAUCES LIMITED

Company Registration Number:
NI616365 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

GF OILS & SAUCES LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

GF OILS & SAUCES LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 0 47,534
Tangible assets: 4 10,045 87,298
Total fixed assets: 10,045 134,832
Current assets
Stocks: 0 172,305
Debtors: 5 76,426 430,155
Cash at bank and in hand: 434,056 105,573
Total current assets: 510,482 708,033
Creditors: amounts falling due within one year: 6 (376,176) (1,015,443)
Net current assets (liabilities): 134,306 (307,410)
Total assets less current liabilities: 144,351 (172,578)
Provision for liabilities: 0 (16,274)
Total net assets (liabilities): 144,351 (188,852)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 144,349 (188,854)
Shareholders funds: 144,351 (188,852)

The notes form part of these financial statements

GF OILS & SAUCES LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 March 2025
and signed on behalf of the board by:

Name: William Deevy
Status: Director

The notes form part of these financial statements

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 3 11

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible Assets

Total
Cost £
At 01 July 2023 129,473
Disposals (129,473)
At 30 June 2024 0
Amortisation
At 01 July 2023 81,939
On disposals (81,939)
At 30 June 2024 0
Net book value
At 30 June 2024 0
At 30 June 2023 47,534

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Tangible Assets

Total
Cost £
At 01 July 2023 214,788
Disposals (191,939)
At 30 June 2024 22,849
Depreciation
At 01 July 2023 127,490
Charge for year 2,014
On disposals (116,700)
At 30 June 2024 12,804
Net book value
At 30 June 2024 10,045
At 30 June 2023 87,298

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

Trade debtors are shown net of impairment in respect of doubtful debts of £5,903 (2023: £11,926). 2024 Trade debtors: £64,883 Deferred tax asset: £- Taxation: £4,597 Prepayments and accrued income: £6,946 2024 TOTAL: £76,426 2023 Trade debtors: £355,345 Deferred tax asset: £40,779 Taxation: £5,262 Prepayments and accrued income: £28,769 2023 TOTAL: £430,155

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

2024 Trade creditors: £3,201 Amounts owed to related parties: £288,300 Taxation: £32,986 Accruals: £51,689 2024 TOTAL: £376,176 2023 Trade creditors: £723,413 Amounts owed to related parties: £288,300 Taxation: £115 Accruals: £3,615 2023 TOTAL: £1,015,443 Trade creditors and accruals are payable in accordance with standard commercial terms. Amounts owed to group undertakings are non-interest bearing, unsecured and payable on demand.

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Financial commitments

The company had no material capital commitments at the financial year-ended 30 June 2024.

GF OILS & SAUCES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Related party transactions

Name of the related party:
Relationship:
Connected Company
Description of the Transaction: Natures Oils Limited: Debtor £6,808 (2023 £Nil) Creditor £1,928 (2023 - £705,014). Sales to and purchases from Natures Oils Limited and Bolton Biofuels Limited (companies resident in the Republic of Ireland) are under normal trade terms and monies outstanding are included as part of trade debtors/creditors.
£
Balance at 01 July 2023 0
Balance at 30 June 2024 6,808
Name of the related party:
Relationship:
Connected Company
Description of the Transaction: Natures Oils Limited: Debtor £6,808 (2023 £Nil) Creditor £1,928 (2023 - £705,014). Sales to and purchases from Natures Oils Limited and Bolton Biofuels Limited (companies resident in the Republic of Ireland) are under normal trade terms and monies outstanding are included as part of trade debtors/creditors.
£
Balance at 01 July 2023 705,014
Balance at 30 June 2024 1,928
Name of the related party:
Relationship:
Connected Company
Description of the Transaction: Bolton Biofuels Limited: Debtor £Nil (2023 - £26,491). Sales to and purchases from Natures Oils Limited and Bolton Biofuels Limited (companies resident in the Republic of Ireland) are under normal trade terms and monies outstanding are included as part of trade debtors/creditors.
£
Balance at 01 July 2023 26,491
Balance at 30 June 2024 0

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies. GF Oils and Sauces Limited has common directors and shareholders with Natures Oils Limited and Bolton Biofuels Limited.