Registered number
02753818
G.K.CLAIRE (LONDON) LIMITED
Filleted Accounts
31 October 2024
G.K.CLAIRE (LONDON) LIMITED
Registered number: 02753818
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40 80
Current assets
Stocks 14,950 15,870
Debtors 4 1,915 1,367
Cash at bank and in hand 9,944 8,991
26,809 26,228
Creditors: amounts falling due within one year 5 (6,331) (7,952)
Net current assets 20,478 18,276
Total assets less current liabilities 20,518 18,356
Creditors: amounts falling due after more than one year 6 (5,716) (8,783)
Net assets 14,802 9,573
Capital and reserves
Called up share capital 60 60
Profit and loss account 14,742 9,513
Shareholders' funds 14,802 9,573
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 H S Claire
Director
Approved by the board on 23 April 2025
G.K.CLAIRE (LONDON) LIMITED
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 21,149
At 31 October 2024 21,149
Depreciation
At 1 November 2023 21,069
Charge for the year 40
At 31 October 2024 21,109
Net book value
At 31 October 2024 40
At 31 October 2023 80
4 Debtors 2024 2023
£ £
Other debtors 1,915 1,367
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 755
Taxation and social security costs 136 82
Other creditors 6,195 7,115
6,331 7,952
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,716 8,783
7 Other information
G.K.CLAIRE (LONDON) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
132 A Commercial Road
London
E1 1NL
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