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Registration number: 02919524

G.K. Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

G.K. Associates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

G.K. Associates Limited

Company Information

Directors

Mr George Kyriacou

Mrs Elizabeth Kyriacou

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes
Palmers Green
London
N13 5RY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
G.K. Associates Limited
for the Year Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of G.K. Associates Limited for the year ended 30 April 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of G.K. Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of G.K. Associates Limited and state those matters that we have agreed to state to the Board of Directors of G.K. Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.K. Associates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that G.K. Associates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of G.K. Associates Limited. You consider that G.K. Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of G.K. Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

 

G.K. Associates Limited

(Registration number: 02919524)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

101

206

Current assets

 

Cash at bank and in hand

 

98,385

90,489

Creditors: Amounts falling due within one year

5

(5,041)

(3,940)

Net current assets

 

93,344

86,549

Net assets

 

93,445

86,755

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

93,345

86,655

Shareholders' funds

 

93,445

86,755

For the financial year ending 30 April 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 July 2025 and signed on its behalf by:
 

.........................................
Mr George Kyriacou
Director

 

G.K. Associates Limited

Statement of Changes in Equity for the Year Ended 30 April 2025

Share capital
£

Retained earnings
£

Total
£

At 1 May 2024

100

86,655

86,755

Profit for the year

-

6,690

6,690

At 30 April 2025

100

93,345

93,445

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

100

112,747

112,847

Profit for the year

-

2,408

2,408

Dividends

-

(28,500)

(28,500)

At 30 April 2024

100

86,655

86,755

 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
Townsend House
24 Lucas Lane
Ashwell
Herts
SG7 5LN

These financial statements were authorised for issue by the Board on 7 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2024

4,366

4,366

At 30 April 2025

4,366

4,366

Depreciation

At 1 May 2024

4,160

4,160

Charge for the year

105

105

At 30 April 2025

4,265

4,265

Carrying amount

At 30 April 2025

101

101

At 30 April 2024

206

206

5

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

660

78

Taxation and social security

 

3,481

2,962

Accruals and deferred income

 

900

900

 

5,041

3,940

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £Nil (2024 - £285.00) per each Ordinary shares

-

28,500

 

 

8

Related party transactions

 

G.K. Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

7,432

15,000

Contributions paid to money purchase schemes

33,000

18,000

40,432

33,000

9

Parent and ultimate parent undertaking

The company's immediate parent is Iliad Holdings Ltd, incorporated in England & Wales.