Registered number
10409378
GOZ LTD
Filleted Accounts
31 October 2024
GOZ LTD
Registered number: 10409378
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 150,917 112,342
Current assets
Stocks 37,896 44,096
Debtors 4 16,132 347
Cash at bank and in hand 13,565 16,002
67,593 60,445
Creditors: amounts falling due within one year 5 (112,054) (59,044)
Net current (liabilities)/assets (44,461) 1,401
Total assets less current liabilities 106,456 113,743
Creditors: amounts falling due after more than one year 6 (104,146) (97,451)
Net assets 2,310 16,292
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,309 16,291
Shareholder's funds 2,310 16,292
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.
Mr Zeki Iyiguven
Director
Approved by the board on 10 April 2025
GOZ LTD
Notes to the Accounts
for the year ended 31 October 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Plant and machinery over 5 years
Motor vehicles over 5 years
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 32,040 83,708 68,283 184,031
Additions - 76,302 - 76,302
At 31 October 2024 32,040 160,010 68,283 260,333
Depreciation
At 1 November 2023 22,556 20,417 28,716 71,689
Charge for the year 1,896 27,918 7,913 37,727
At 31 October 2024 24,452 48,335 36,629 109,416
Net book value
At 31 October 2024 7,588 111,675 31,654 150,917
At 31 October 2023 9,484 63,291 39,567 112,342
4 Debtors 2024 2023
£ £
Trade debtors 6,132 (11,802)
Other debtors 10,000 12,149
16,132 347
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 80,399 18,416
Taxation and social security costs (8,314) 12,833
Other creditors 39,969 27,795
112,054 59,044
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 95,758 83,261
Obligations under finance lease and hire purchase contracts 4,096 7,973
Other creditors 4,292 6,217
104,146 97,451
7 Other information
GOZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
105 Brantwood Road
Tottenham
London
UK
N17 0DX
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