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REGISTERED NUMBER: 02374968 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GHAI DISTRIBUTORS LIMITED

GHAI DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02374968)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GHAI DISTRIBUTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: T K Ghai
Mrs P K Ghai
R K Ghai





SECRETARY: Mrs M K Shant





REGISTERED OFFICE: Executive House
Coombe Road
Neasden
London
NW10 0EB





REGISTERED NUMBER: 02374968 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

GHAI DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02374968)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 20,173 25,804

CURRENT ASSETS
Stocks 563,122 587,891
Debtors 5 380,407 361,217
Cash at bank and in hand 91,561 53,948
1,035,090 1,003,056
CREDITORS
Amounts falling due within one year 6 526,905 506,470
NET CURRENT ASSETS 508,185 496,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,358

522,390

CAPITAL AND RESERVES
Called up share capital 7 100,000 100,000
Retained earnings 8 428,358 422,390
SHAREHOLDERS' FUNDS 528,358 522,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





R K Ghai - Director


GHAI DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02374968)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Ghai Distributors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on going concern basis which assumes that the company will continue to receive adequate financial assistance from Directors, Bankers and other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

GHAI DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02374968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 200,742 64,153 50,515 315,410
Disposals - (8,716 ) - (8,716 )
At 31 August 2024 200,742 55,437 50,515 306,694
DEPRECIATION
At 1 September 2023 192,996 49,246 47,364 289,606
Charge for year 1,162 3,518 630 5,310
Eliminated on disposal - (8,395 ) - (8,395 )
At 31 August 2024 194,158 44,369 47,994 286,521
NET BOOK VALUE
At 31 August 2024 6,584 11,068 2,521 20,173
At 31 August 2023 7,746 14,907 3,151 25,804

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 359,655 341,568
Other debtors 20,752 19,649
380,407 361,217

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 17,275 14,373
Trade creditors 254,522 230,661
Taxation and social security 9,782 13,206
Other creditors 245,326 248,230
526,905 506,470

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100,000 Ordinary £1 100,000 100,000

GHAI DISTRIBUTORS LIMITED (REGISTERED NUMBER: 02374968)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. RESERVES
Retained
earnings
£   

At 1 September 2023 422,390
Profit for the year 15,968
Dividends (10,000 )
At 31 August 2024 428,358

9. RELATED PARTY DISCLOSURES

The company pays rent for the premises of Executive House, Coombe Road, London NW10 to G-Tex Limited, an associate company at a market rent.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Ghai by virtue of his ownership of 99% of the issued share capital in the company.