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COMPANY REGISTRATION NUMBER: 14932539
Gill's Trading Co. Ltd
Filleted Unaudited Financial Statements
30 April 2024
Gill's Trading Co. Ltd
Statement of Financial Position
30 April 2024
2024
Note
£
Fixed assets
Investments
5
500,000
Creditors: amounts falling due within one year
6
490,000
-----------
Net current liabilities
490,000
-----------
Total assets less current liabilities
10,000
----------
Gill's Trading Co. Ltd
Statement of Financial Position (continued)
30 April 2024
2024
Note
£
Capital and reserves
Called up share capital
10,000
----------
Shareholders funds
10,000
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 April 2025 , and are signed on behalf of the board by:
Mr Palvinder Singh Gill
Director
Company registration number: 14932539
Gill's Trading Co. Ltd
Notes to the Financial Statements
Period ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 198 Old Birmingham Road, Marlbrook, Bromsgrove, B60 1HH, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Investments
Other investments other than loans
£
Cost
At 1 May 2023
Additions
500,000
-----------
At 30 April 2024
500,000
-----------
Impairment
At 1 May 2023 and 30 April 2024
-----------
Carrying amount
At 30 April 2024
500,000
-----------
Gill's Trading Co. Ltd owns 100% of the ordinary share capital in Rochelle Clothing Company Limited (RCCL). RCCL is a company incorporated in England & Wales. The principal activity of RCCL is the manufacture of leisurewear. The profit for the year and the capital & reserves as at 30th April 2024 for RCCL is as follows:
2024
£
Rochelle Clothing Company Limited 100%
Profit/(loss) for the year after tax 363k
Capital and Reserves 1.1 million
6. Creditors: amounts falling due within one year
2024
£
Other creditors
490,000
-----------
7. Related party transactions
The company was under 100% control of the shareholders. The directors are the key management personnel of the company. The shareholders of Gill's Trading Co. Ltd are also shareholders in other related companies. The following transactions were carried out with related companies during the current period:
2024
£
Other Creditors 490,000