Company No:
Contents
| DIRECTORS | Sohyb Alblushi |
| Abdelrahman Khaled Fathalla |
| REGISTERED OFFICE | 35 Benson House 4 Radnor Terrace |
| London | |
| W14 8FE | |
| United Kingdom |
| COMPANY NUMBER | 14058471 (England and Wales) |
| CHARTERED ACCOUNTANTS | Mercer & Hole LLP |
| The Pinnacle | |
| 170 Midsummer Boulevard | |
| Milton Keynes | |
| MK9 1BP |
| Note | 31.05.2024 | 31.05.2023 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | ||||
| - due within one year | 3 |
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| - due after more than one year | 3 |
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| 89,682 | 72,964 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 1 | 1 | ||
| Total assets less current liabilities | 1 | 1 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 5 |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Guillam 61 CS Ltd (registered number:
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Abdelrahman Khaled Fathalla
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
Guillam 61 CS Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Benson House 4 Radnor Terrace, London, W14 8FE, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The comparative period presented in these financial statements covers an extended period of 13 months from incorporation on 20 April 2022 to the Company's desired reporting date of 31 May 2023. As such the results for the current period presented are not entirely comparable with the comparative period.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
| Year ended 31.05.2024 |
Period from 20.04.2022 to 31.05.2023 |
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the period, including directors |
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| 31.05.2024 | 31.05.2023 | ||
| £ | £ | ||
| Debtors: amounts falling due within one year | |||
| Other debtors |
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| Debtors: amounts falling due after more than one year | |||
| Other debtors |
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| 31.05.2024 | 31.05.2023 | ||
| £ | £ | ||
| Amounts owed to Group undertakings |
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| Other creditors |
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| 31.05.2024 | 31.05.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| Allotted, called-up and not yet paid |
Commitments
| 31.05.2024 | 31.05.2023 | ||
| £ | £ | ||
| Total future minimum lease payments under non-cancellable operating lease |
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