Company Registration No. 06583886 (England and Wales)
Gian Ltd
Unaudited accounts
for the year ended 29 May 2024
Gian Ltd
Unaudited accounts
Contents
Gian Ltd
Company Information
for the year ended 29 May 2024
Director
Bhavinder Singh Tamber
Company Number
06583886 (England and Wales)
Registered Office
99 CHESTER ROAD
STREETLY
SUTTON COLDFIELD
WEST MIDLANDS
B74 2HE
ENGLAND
Accountants
Daniel Raj (ACA) North Stone Chartered Accountants
99 Chester Road
Streetly
Sutton Coldfield
West Midlands
B74 2HE
Gian Ltd
Statement of financial position
as at 29 May 2024
Tangible assets
218,670
224,268
Investment property
1,190,942
1,190,942
Cash at bank and in hand
92,884
48,253
Creditors: amounts falling due within one year
(1,373,547)
(625,342)
Net current liabilities
(1,274,683)
(547,558)
Total assets less current liabilities
134,929
867,652
Creditors: amounts falling due after more than one year
-
(715,020)
Net assets
134,929
152,632
Called up share capital
1,000
1,000
Profit and loss account
133,929
151,632
Shareholders' funds
134,929
152,632
For the year ending 29 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 December 2024 and were signed on its behalf by
Bhavinder Singh Tamber
Director
Company Registration No. 06583886
Gian Ltd
Notes to the Accounts
for the year ended 29 May 2024
Gian Ltd is a private company, limited by shares, registered in England and Wales, registration number 06583886. The registered office is 99 CHESTER ROAD, STREETLY, SUTTON COLDFIELD, WEST MIDLANDS, B74 2HE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Gian Ltd
Notes to the Accounts
for the year ended 29 May 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 30 May 2023
-
299,119
417
299,536
Additions
10,483
18,298
-
28,781
At 29 May 2024
10,483
317,417
417
328,317
At 30 May 2023
-
74,916
352
75,268
Charge for the year
2,621
31,742
16
34,379
At 29 May 2024
2,621
106,658
368
109,647
At 29 May 2024
7,862
210,759
49
218,670
At 29 May 2023
-
224,203
65
224,268
Fair value at 30 May 2023
1,190,942
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall
be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
638,690
30,215
Amounts owed to group undertakings and other participating interests
707,291
577,156
Proposed dividends
2,000
2,000
Loans from directors
24,816
15,971
8
Creditors: amounts falling due after more than one year
2024
2023
Gian Ltd
Notes to the Accounts
for the year ended 29 May 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).