26 false false false false false false false false false false true false false false false true true false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP NI043999 2023-09-01 2024-08-31 NI043999 2024-08-31 NI043999 2023-08-31 NI043999 2022-09-01 2023-08-31 NI043999 2023-08-31 NI043999 2022-08-31 NI043999 core:PlantMachinery 2023-09-01 2024-08-31 NI043999 core:FurnitureFittings 2023-09-01 2024-08-31 NI043999 core:MotorVehicles 2023-09-01 2024-08-31 NI043999 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 NI043999 bus:Director1 2023-09-01 2024-08-31 NI043999 bus:Director2 2023-09-01 2024-08-31 NI043999 core:PlantMachinery 2023-08-31 NI043999 core:FurnitureFittings 2023-08-31 NI043999 core:MotorVehicles 2023-08-31 NI043999 core:PlantMachinery 2024-08-31 NI043999 core:FurnitureFittings 2024-08-31 NI043999 core:MotorVehicles 2024-08-31 NI043999 core:WithinOneYear 2024-08-31 NI043999 core:WithinOneYear 2023-08-31 NI043999 core:AfterOneYear 2024-08-31 NI043999 core:AfterOneYear 2023-08-31 NI043999 core:ShareCapital 2024-08-31 NI043999 core:ShareCapital 2023-08-31 NI043999 core:RetainedEarningsAccumulatedLosses 2024-08-31 NI043999 core:RetainedEarningsAccumulatedLosses 2023-08-31 NI043999 core:PlantMachinery 2023-08-31 NI043999 core:FurnitureFittings 2023-08-31 NI043999 core:MotorVehicles 2023-08-31 NI043999 bus:SmallEntities 2023-09-01 2024-08-31 NI043999 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 NI043999 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI043999 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI043999 bus:FullAccounts 2023-09-01 2024-08-31 NI043999 bus:OrdinaryShareClass1 2024-08-31 NI043999 bus:OrdinaryShareClass1 2023-08-31
COMPANY REGISTRATION NUMBER: NI043999
GAHANANDLONG LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2024
GAHANANDLONG LTD
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
14,448
17,065
Current assets
Debtors
6
245,424
194,806
Cash at bank and in hand
449,600
384,941
---------
---------
695,024
579,747
Creditors: amounts falling due within one year
7
409,119
223,978
---------
---------
Net current assets
285,905
355,769
---------
---------
Total assets less current liabilities
300,353
372,834
Creditors: amounts falling due after more than one year
8
14,122
23,980
Provisions
Taxation including deferred tax
1,905
1,905
---------
---------
Net assets
284,326
346,949
---------
---------
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
284,324
346,947
---------
---------
Shareholders funds
284,326
346,949
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GAHANANDLONG LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Ms A Gahan
Mr C Long
Director
Director
Company registration number: NI043999
GAHANANDLONG LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
1. General information
The company is a private company limited by shares, registered in N. Ireland. The address of the registered office is 7-9 Castlereagh Street, Belfast, BT5 4NE.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Disclosure exemptions (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. Taxation Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallize, based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 25% straight line
Fixtures & Fittings - 25% straight line
Motor Vehicles - 25% straight line
Equipment - 25% straight line
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 28 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
39,144
746
11,995
26,794
78,679
Additions
1,978
1,978
--------
----
--------
--------
--------
At 31 August 2024
39,144
746
11,995
28,772
80,657
--------
----
--------
--------
--------
Depreciation
At 1 September 2023
36,438
241
11,143
13,792
61,614
Charge for the year
676
126
213
3,580
4,595
--------
----
--------
--------
--------
At 31 August 2024
37,114
367
11,356
17,372
66,209
--------
----
--------
--------
--------
Carrying amount
At 31 August 2024
2,030
379
639
11,400
14,448
--------
----
--------
--------
--------
At 31 August 2023
2,706
505
852
13,002
17,065
--------
----
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
203,374
150,417
Other debtors
42,050
44,389
---------
---------
245,424
194,806
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,848
9,848
Trade creditors
67,975
84,092
Corporation tax
11,548
19,415
Social security and other taxes
142,476
70,416
Other creditors
177,272
40,207
---------
---------
409,119
223,978
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,122
23,980
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. Directors' advances, credits and guarantees
During the year, the company repaid net loans of £11,117 (2023: directors advanced net loans of £7,513). At the balance sheet date £4,693 (2023: £15,810) remained outstanding to the directors.
11. Related party transactions
The company was under the control of Ms Gahan and Mr Long throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.