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REGISTERED NUMBER: 01732932 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

G-TEX LIMITED

G-TEX LIMITED (REGISTERED NUMBER: 01732932)

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


G-TEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs M K Shant
Mr R K Ghai





SECRETARY: Mr R K Ghai





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





REGISTERED NUMBER: 01732932 (England and Wales)





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

G-TEX LIMITED (REGISTERED NUMBER: 01732932)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 383,535 388,868

CURRENT ASSETS
Debtors 5 171,527 181,280
Cash at bank and in hand 255,532 214,334
427,059 395,614
CREDITORS
Amounts falling due within one year 6 22,998 19,359
NET CURRENT ASSETS 404,061 376,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,596

765,123

CAPITAL AND RESERVES
Called up share capital 7 50,000 50,000
Retained earnings 8 737,596 715,123
SHAREHOLDERS' FUNDS 787,596 765,123

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:





Mr R K Ghai - Director


G-TEX LIMITED (REGISTERED NUMBER: 01732932)

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


1. STATUTORY INFORMATION

G-Tex 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

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.

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 NIL (2023 - NIL).

G-TEX LIMITED (REGISTERED NUMBER: 01732932)

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


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 September 2023
and 31 August 2024 499,839
DEPRECIATION
At 1 September 2023 110,971
Charge for year 5,333
At 31 August 2024 116,304
NET BOOK VALUE
At 31 August 2024 383,535
At 31 August 2023 388,868

Included in cost of land and buildings is freehold land of £ 207,522 (2023 - £ 207,522 ) which is not depreciated.

5. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Other debtors 162,727 172,480

Amounts falling due after more than one year:
Other debtors 8,800 8,800

Aggregate amounts 171,527 181,280

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Taxation and social security 8,657 5,568
Other creditors 14,341 13,791
22,998 19,359

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
50,000 Ordinary shares £1 50,000 50,000

G-TEX LIMITED (REGISTERED NUMBER: 01732932)

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


8. RESERVES
Retained
earnings
£   

At 1 September 2023 715,123
Profit for the year 22,473
At 31 August 2024 737,596

9. RELATED PARTY DISCLOSURES

The company has let its freehold premises of Executive House, Coombe Road, London NW10 to Ghai Distributors Ltd, an associate company at a market rent.