14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01571765 2023-10-01 2024-09-30 01571765 2024-09-30 01571765 2023-09-30 01571765 2022-10-01 2023-09-30 01571765 2023-09-30 01571765 2022-09-30 01571765 core:PlantMachinery 2023-10-01 2024-09-30 01571765 core:FurnitureFittings 2023-10-01 2024-09-30 01571765 core:MotorVehicles 2023-10-01 2024-09-30 01571765 bus:Director1 2023-10-01 2024-09-30 01571765 core:LandBuildings 2023-09-30 01571765 core:PlantMachinery 2023-09-30 01571765 core:FurnitureFittings 2023-09-30 01571765 core:MotorVehicles 2023-09-30 01571765 core:LandBuildings 2024-09-30 01571765 core:PlantMachinery 2024-09-30 01571765 core:FurnitureFittings 2024-09-30 01571765 core:MotorVehicles 2024-09-30 01571765 core:WithinOneYear 2024-09-30 01571765 core:WithinOneYear 2023-09-30 01571765 core:ShareCapital 2024-09-30 01571765 core:ShareCapital 2023-09-30 01571765 core:RetainedEarningsAccumulatedLosses 2024-09-30 01571765 core:RetainedEarningsAccumulatedLosses 2023-09-30 01571765 core:BetweenOneFiveYears 2024-09-30 01571765 core:LandBuildings 2023-10-01 2024-09-30 01571765 core:LandBuildings 2023-09-30 01571765 core:PlantMachinery 2023-09-30 01571765 core:FurnitureFittings 2023-09-30 01571765 core:MotorVehicles 2023-09-30 01571765 bus:SmallEntities 2023-10-01 2024-09-30 01571765 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 01571765 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 01571765 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01571765 bus:FullAccounts 2023-10-01 2024-09-30 01571765 core:LandBuildings core:LongLeaseholdAssets 2023-10-01 2024-09-30 01571765 core:LandBuildings core:ShortLeaseholdAssets 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 01571765
Ghir Limited
Filleted Unaudited Financial Statements
30 September 2024
Ghir Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
66,599
73,580
Current assets
Stocks
64,850
50,928
Debtors
6
124,158
108,842
Cash at bank and in hand
295,911
274,462
---------
---------
484,919
434,232
Creditors: amounts falling due within one year
7
218,632
177,751
---------
---------
Net current assets
266,287
256,481
---------
---------
Total assets less current liabilities
332,886
330,061
Provisions
Taxation including deferred tax
5,027
7,193
---------
---------
Net assets
327,859
322,868
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
327,759
322,768
---------
---------
Shareholders funds
327,859
322,868
---------
---------
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 30 September 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 .
Ghir Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
J S Ghir
Director
Company registration number: 01571765
Ghir Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 426/428 Barking Road, Eastham, London, E6 2SA.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the value of services and product sales under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due excluding value added tax.
Income tax
Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Leasehold Property
-
over the lease term
Improvement to Property
-
over the lease term
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
10% reducing balance
Motor Vehicle
-
25% reducing balance
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. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
117,038
95,339
173,637
9,194
395,208
---------
--------
---------
------
---------
Depreciation
At 1 October 2023
68,343
93,363
153,637
6,285
321,628
Charge for the year
3,901
353
2,000
727
6,981
---------
--------
---------
------
---------
At 30 September 2024
72,244
93,716
155,637
7,012
328,609
---------
--------
---------
------
---------
Carrying amount
At 30 September 2024
44,794
1,623
18,000
2,182
66,599
---------
--------
---------
------
---------
At 30 September 2023
48,695
1,976
20,000
2,909
73,580
---------
--------
---------
------
---------
6. Debtors
2024
2023
£
£
Trade debtors
89,855
76,823
Other debtors
34,303
32,019
---------
---------
124,158
108,842
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,992
29,800
Trade creditors
129,840
94,964
Corporation tax
2,400
3,472
Social security and other taxes
6,161
5,565
Other creditors
58,239
43,950
---------
---------
218,632
177,751
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
3,753
Later than 1 year and not later than 5 years
313
------
----
4,066
------
----