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Company Registration Number 13726155























GAI ZAAP LIMITED 





FINANCIAL STATEMENTS





 31 MARCH 2025























img5fe9.png

 
GAI ZAAP LIMITED
 

COMPANY INFORMATION


Directors
C D Hammond 
Y Kaewkraikhot 
W Kornlup 
G M Marks 
M Robertshaw 




Registered number
13726155



Registered office
4 St. Annes Road

Leeds

England

LS6 3NX




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

Third Floor

10 South Parade

Leeds

West Yorkshire

LS1 5QS





 
GAI ZAAP LIMITED
 

CONTENTS



Page
Directors' Report
 
1 - 2
Directors' Responsibilities Statement
 
3
Independent Auditors' Report
 
4 - 7
Statement of Comprehensive Income
 
8
Statement of Financial Position
 
9 - 10
Statement of Changes in Equity
 
11
Notes to the Financial Statements
 
12 - 19


 
GAI ZAAP LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal activity

The principal activity of the company in the year was a Thai food market before being converted to a chicken restaurant.
The company ceased trading in October 2024 as part of a strategic decision by the Directors to focus resources and efforts on the development and growth of other brands within the group. This move reflects the company’s ongoing commitment to streamlining operations and concentrating on areas with greater strategic importance and long-term potential.

Directors

The directors who served during the year were:

C D Hammond 
Y Kaewkraikhot 
W Kornlup 
G M Marks 
M Robertshaw 

Qualifying third party indemnity provisions

As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the financial period and at the date of approval of these financial statements. The Company also purchased and maintained throughout the financial period Directors' and Officers' liability insurance in respect of itself and its Directors.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsArmstrong Watson Audit Limitedwill be proposed for appointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Page 1

 
GAI ZAAP LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

This report was approved by the board and signed on its behalf.
 





................................................
G M Marks
Director

Date: 23 June 2025

Page 2

 
GAI ZAAP LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

 
GAI ZAAP LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GAI ZAAP LIMITED
 

Opinion


We have audited the financial statements of Gai Zaap Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its loss for the    year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting     Practice; and
•        have been prepared in accordance with the requirements of the Companies Act 2006.    


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Prior year not audited


During the prior year, the company was not subject to audit, therefore the prior year figures were not audited. 


Emphasis of Matter – Financial Statements prepared on a basis other than going concern


We draw attention to Note 2.3 in the financial statements which explains the Company ceased trading prior to the year end due to experiencing recurring losses from operations. The directors, therefore, do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2.3. Our opinion is not modified in respect of this matter.








Page 4

 
GAI ZAAP LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GAI ZAAP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are         prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.    


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
GAI ZAAP LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GAI ZAAP LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation.
• We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting    minutes for evidence of non compliance with relevant laws and regulations. We also reviewed controls the  directors have in place to ensure compliance.
• We gained an understanding of the controls that the directors have in place to prevent and detect fraud.    We enquired of the directors about any incidences of fraud that had taken place during the accounting    period.
• The risk of fraud and non compliance with laws and regulations and fraud was discussed within the audit   team and tests were planned and performed to address these risks. We identified the potential for fraud in  the following areas: revenue recognition.
• We reviewed financial statements disclosures and tested to supporting documentation to assess     compliance with relevant laws and regulations discussed above.
• We enquired of the directors and third party advisors about actual and potential litigation and claims.
• We performed analytical procedures to identify any unusual or unexpected relationships that might    indicate risks of material misstatement due to fraud.
• In addressing the risk of fraud due to management override of internal controls we tested the     appropriateness of journal entries and assessed whether the judgements made in making accounting.    estimates were indicative of a potential bias.
• Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected    some material misstatements in the financial statements, even though we have properly planned and    performed our audit in accordance with auditing standards. For example, as with any audit, there     remained a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional  omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing   fraud or non compliance with laws and regulations and cannot be expected to detect all fraud and non    compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

 
GAI ZAAP LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GAI ZAAP LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.




Steven Preston (Senior Statutory Auditor)
for and on behalf of
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors
Leeds

24 June 2025
Page 7

 
GAI ZAAP LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025
Unaudited 2024
Note
£
£

  

Turnover
  
102,152
445,010

Cost of sales
  
(139,426)
(344,460)

Gross (loss)/profit
  
(37,274)
100,550

Administrative expenses
  
(727,693)
(173,825)

Operating loss
  
(764,967)
(73,275)

Tax on loss
  
4,993
6,920

Loss for the financial year
  
(759,974)
(66,355)

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 12 to 19 form part of these financial statements.

Page 8

 
GAI ZAAP LIMITED
REGISTERED NUMBER: 13726155

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
Unaudited 2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
37,705
150,278

  
37,705
150,278

Current assets
  

Stocks
 6 
-
38,809

Debtors: amounts falling due within one year
 7 
27,189
15,554

Cash at bank and in hand
 8 
181
49,717

  
27,370
104,080

Creditors: amounts falling due within one year
 9 
(884,197)
(389,763)

Net current liabilities
  
 
 
(856,827)
 
 
(285,683)

Total assets less current liabilities
  
(819,122)
(135,405)

Provisions for liabilities
  

Deferred tax
 10 
(7,273)
(12,266)

Other provisions
 11 
(81,250)
-

  
 
 
(88,523)
 
 
(12,266)

Net liabilities
  
(907,645)
(147,671)


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
(907,745)
(147,771)

  
(907,645)
(147,671)


Page 9

 
GAI ZAAP LIMITED
REGISTERED NUMBER: 13726155

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G M Marks
Director

Date: 23 June 2025

The notes on pages 12 to 19 form part of these financial statements.

Page 10

 
GAI ZAAP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2023
100
(81,416)
(81,316)


Comprehensive income for the year

Loss for the year
-
(66,355)
(66,355)



At 1 April 2024
100
(147,771)
(147,671)


Comprehensive income for the year

Loss for the year
-
(759,974)
(759,974)


At 31 March 2025
100
(907,745)
(907,645)


The notes on pages 12 to 19 form part of these financial statements.

Page 11

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Gai Zaap Limited is a private company, limited by shares, incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the Company Information page and the nature of the Company's operations and its principal activities are set out in the Directors' Report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Sukho Group Limited as at 31 March 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ, United Kingdom.

  
2.3

Going Concern

As of October 2024, the Company ceased trading due to experiencing recurring losses from operations, negative cash flows, and a working capital deficiency. These conditions, combined with a lack of committed external financing and no future revenue generation, raise significant doubt about the Company’s ability to meet its obligations as they come due.        
Accordingly, these financial statements have not been prepared on a going concern basis, which assumes the realization of assets and the settlement of liabilities in the normal course of business. Following the cessation of trade during the period, the Directors have assessed the fair value of the assets and liabilities held on the Statement of Financial Position at the year-end and considered any additional costs in relation to the cessation of trade. These adjustments are detailed in Notes 5 & 11.

  
2.4

Turnover

Turnover represents in-store purchases derived from cash and card takings; including food and beverages and both dine-in and delivery sales (excluding value added tax). Turnover is recognised at the point of completion of a transaction with a customer and any commission payable on delivery is recognised in cost of sales.

Page 12

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

                Depreciation is charged so as to allocate the cost of assets less their residual value over their           estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property
-
Over the term of the lease
Leasehold improvements
-
Over the term of the lease
Fixtures and fittings
-
25% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 14

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.14

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.
The Company's cash at bank and in hand and trade and other debtors and its trade and other creditors and bank overdrafts are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
If a transaction constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest, except where loans are received from a person who is within a Director's group of close family members and that group contains a shareholder of the Company, then these are initially recorded at transaction price, and subsequently at amortised cost using the interest rate implicit in the contract.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The Directors consider the following to be an area of significant judgement:
Assessing indicators of impairment:
Determine whether there are indicators of impairment of the Company’s assets, factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. As a consequence of the in year performance, impairment indicators have been identified. The Company has undertaken an impairment exercise based on the recoverability of assets held within the business. See Note 5 for further details.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2024 - 6).

Page 15

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Tangible fixed assets





Leasehold improvements
Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2024
99,501
10,047
99,282
2,977
211,807


Additions
-
-
412,281
-
412,281


Disposals
(99,501)
-
(99,282)
-
(198,783)



At 31 March 2025

-
10,047
412,281
2,977
425,305



Depreciation


At 1 April 2024
17,102
1,767
41,083
1,577
61,529


Charge for the year on owned assets
1,671
1,007
72,572
996
76,246


Disposals
(18,773)
-
(45,223)
-
(63,996)


Impairment charge
-
7,273
306,548
-
313,821



At 31 March 2025

-
10,047
374,980
2,573
387,600



Net book value



At 31 March 2025
-
-
37,301
404
37,705



At 31 March 2024
82,399
8,280
58,199
1,400
150,278

Following the cessation of trade during the period, the Directors have performed an impairment review of the fixed assets within the business, based on their ability to repurpose the net assets across the Group. This has resulted in the impairment of £313,821.

Page 16

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Stocks

2025
Unaudited 2024
£
£

Finished goods and goods for resale
-
38,809

-
38,809



7.


Debtors

2025
Unaudited 2024
£
£


Trade debtors
-
180

Other debtors
17,647
14,000

Prepayments and accrued income
9,542
1,374

27,189
15,554



8.


Cash and cash equivalents

2025
Unaudited 2024
£
£

Cash at bank and in hand
181
49,717

181
49,717



9.


Creditors: Amounts falling due within one year

2025
Unaudited 2024
£
£

Trade creditors
2,160
2,495

Amounts owed to group undertakings
857,792
362,466

Other taxation and social security
82
1,706

Other creditors
-
1,597

Accruals and deferred income
24,163
21,499

884,197
389,763


Page 17

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Deferred taxation




2025


£






At beginning of year
(12,266)


Charged to profit or loss
4,993



At end of year
(7,273)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Fixed asset timing differences
(7,273)
(12,266)

(7,273)
(12,266)


11.


Provisions




Other Provisions

£





Onerous Lease Provision
67,500


Dilapidations Provision
13,750



At 31 March 2025
81,250

The above provisions have arisen following the cessation of trade, as detailed in Note 2.3.


12.


Share capital

2025
Unaudited 2024
£
£
Allotted, called up and fully paid



100 (2024 - 100) Ordinary Shares  of £1.00 each
100
100



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £Nil (2024 - £126) were payable to the fund at the reporting date and are included in creditors.

Page 18

 
GAI ZAAP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

14.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
Unaudited 2024
£
£


Not later than 1 year
30,000
30,000

Later than 1 year and not later than 5 years
120,000
120,000

Later than 5 years
67,500
97,500

217,500
247,500


15.


Related party transactions

The Company has taken advantage of the available exemption conferred by Section 1AC.35 of FRS102 not to disclose transactions with wholly owned members of the Group.


16.


Controlling party

The immediate parent undertaking of the Company is Sukho Limited, incorporated in England and Wales. The registered office of Sukho Limited is 4 St. Annes Road, Leeds, England, LS6 3NX.
The ultimate parent undertaking and parent undertaking of the smallest and largest group in which the results of the Company are consolidated is that headed by Sukho Group Limited. The registered office of Sukho Group Limited is 4 St. Annes Road, Leeds, England, LS6 3NX. The consolidated financial statements of this group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ, United Kingdom.
There is no one controlling party of the Company.


Page 19