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Company Registration No. 08662696 (England and Wales)
Gold Vault Ltd Unaudited accounts for the year ended 31 August 2024
Gold Vault Ltd Unaudited accounts Contents
Page
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Gold Vault Ltd Company Information for the year ended 31 August 2024
Director
Mr Atif Yaqoob
Company Number
08662696 (England and Wales)
Registered Office
65 Woodgrange Avenue Harrow HA3 0XG
Accountants
RMR Partnership LLP 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
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Gold Vault Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
36,697 
45,871 
Current assets
Inventories
182,300 
278,430 
Debtors
812,386 
405,884 
Cash at bank and in hand
18,279 
46,829 
1,012,965 
731,143 
Creditors: amounts falling due within one year
(736,956)
(531,716)
Net current assets
276,009 
199,427 
Total assets less current liabilities
312,706 
245,298 
Creditors: amounts falling due after more than one year
(160,878)
(163,916)
Net assets
151,828 
81,382 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
151,827 
81,381 
Shareholders' funds
151,828 
81,382 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 August 2025 and were signed on its behalf by
Mr Atif Yaqoob Director Company Registration No. 08662696
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Gold Vault Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Gold Vault Ltd is a private company, limited by shares, registered in England and Wales, registration number 08662696. The registered office is 65 Woodgrange Avenue, Harrow, HA3 0XG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% as per reducing balance method
Motor vehicles
20% as per reducing balance method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Gold Vault Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
5,695 
44,354 
50,049 
At 31 August 2024
5,695 
44,354 
50,049 
Depreciation
At 1 September 2023
3,438 
740 
4,178 
Charge for the year
451 
8,723 
9,174 
At 31 August 2024
3,889 
9,463 
13,352 
Net book value
At 31 August 2024
1,806 
34,891 
36,697 
At 31 August 2023
2,257 
43,614 
45,871 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
9,848 
Trade debtors
792,386 
396,036 
792,386 
405,884 
Amounts falling due after more than one year
Other debtors
20,000 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
46,849 
36,832 
VAT
36,517 
- 
Obligations under finance leases and hire purchase contracts
10,656 
10,656 
Trade creditors
348,123 
101,481 
Taxes and social security
16,915 
- 
Other creditors
1,048 
- 
Loans from directors
276,848 
381,150 
Accruals
- 
1,597 
736,956 
531,716 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
128,910 
121,292 
Obligations under finance leases and hire purchase contracts
31,968 
42,624 
160,878 
163,916 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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