REGISTERED NUMBER: 04667159 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

GJC TRADING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

S O Sherlock

SECRETARY:

S O Sherlock

REGISTERED OFFICE:

Unit 11

Alderflat Drive

Newstead Industrial Estate

Trentham

Staffordshire

ST4 8HX

REGISTERED NUMBER:

04667159 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

35,966

37,214

CURRENT ASSETS

Stocks

133,721

150,000

Debtors

6

-

315

Prepayments and accrued income

49,745

33,104

Cash at bank and in hand

161,214

143,217

344,680

326,636

CREDITORS

Amounts falling due within one year

7

152,709

168,101

NET CURRENT ASSETS

191,971

158,535

TOTAL ASSETS LESS CURRENT LIABILITIES

227,937

195,749

PROVISIONS FOR LIABILITIES

(8,992

)

(6,307

)

ACCRUALS AND DEFERRED INCOME

(6,000

)

(15,719

)

NET ASSETS

212,945

173,723

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

212,944

173,722

SHAREHOLDERS' FUNDS

212,945

173,723

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28th August 2025 and were signed by:

S O Sherlock - Director

1.	STATUTORY INFORMATION

GJC Trading Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04667159 and the registered office address is Unit 11 Alderflat Drive, Newstead Industrial Estate, Trentham, Staffordshire, ST4 8HX.

The principal activity of the company is furniture retail.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Functional currency

The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and goods supplied, stated net of discounts and VAT.

Income is recognised when goods have been delivered to customers or services have been provided in full such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

Depreciation is calculated so as to write off the cost of assets, less their residual value, over their estimated useful lives as follows:

Improvements to property

- 20% on cost

Motor vehicles

- 25% reducing balance

Fixtures, fittings and equip

- 25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of non financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 10 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

fittings

Motor

property

& equipment

vehicles

Totals

£

£

£

£

COST

At 1st April 2024

14,153

25,210

32,000

71,363

Additions

-

1,538

10,000

11,538

At 31st March 2025

14,153

26,748

42,000

82,901

DEPRECIATION

At 1st April 2024

10,136

22,450

1,563

34,149

Charge for year

1,451

1,226

10,109

12,786

At 31st March 2025

11,587

23,676

11,672

46,935

NET BOOK VALUE

At 31st March 2025

2,566

3,072

30,328

35,966

At 31st March 2024

4,017

2,760

30,437

37,214

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

315

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

38,719

49,081

Taxation and social security

46,958

43,362

Other creditors

67,032

75,658

152,709

168,101

8.	OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £55,500 (2024: £92,500).

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Steve Sherlock Limited, registered number 14209225. The registered office of the company is at Unit 11 Alder Flat Drive, Newstead Industrial Estate, Staffordshire, ST4 8HX.