REGISTERED NUMBER: NI656571 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

G J Coast Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A McCloskey

REGISTERED OFFICE:

117 Collinward Avenue

Newtownabbey

Belfast

Co. Antrim

BT36 6DZ

REGISTERED NUMBER:

NI656571 (Northern Ireland)

ACCOUNTANTS:

Toman Accountancy Services Ltd

Unit HF 9, Twin Spires Complex

Howard Buildings

155 Northumberland Street

Belfast

Antrim

BT13 2JF

FIXED ASSETS

Intangible assets

4

3,180

3,900

Tangible assets

5

22,013

26,723

25,193

30,623

CURRENT ASSETS

Stocks

51,075

54,975

Debtors

6

39,221

32,332

Cash at bank and in hand

17,446

8,394

107,742

95,701

CREDITORS

Amounts falling due within one year

7

74,981

74,627

NET CURRENT ASSETS

32,761

21,074

TOTAL ASSETS LESS CURRENT LIABILITIES

57,954

51,697

CREDITORS

Amounts falling due after more than one year

8

(37,731

)

(43,061

)

PROVISIONS FOR LIABILITIES

(5,220

)

(5,500

)

NET ASSETS

15,003

3,136

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,903

3,036

SHAREHOLDERS' FUNDS

15,003

3,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and authroised for issue by the director and authorised for issue on 30 October 2025 and were signed by:

Mrs A McCloskey - Director

1.	STATUTORY INFORMATION

G J Coast Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

In preparing these financial statements the director has made the following judgements:

Determine whether there are indicators of impairment of the company's fixed assets. Factors taken into account include economic viability and future expected financial performance of the business in general. Estimates are made in respect of the recoverable value of stock. When assessing the level of provisions required, factors considered include age and condition of stock. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

All financial statements of the company are considered to meet the definition of basic financial instruments.

-Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

-Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2023

and 31 October 2024

7,200

AMORTISATION

At 1 November 2023

3,300

Charge for year

720

At 31 October 2024

4,020

NET BOOK VALUE

At 31 October 2024

3,180

At 31 October 2023

3,900

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2023

16,674

42,566

59,240

Additions

-

2,200

2,200

At 31 October 2024

16,674

44,766

61,440

DEPRECIATION

At 1 November 2023

8,098

24,419

32,517

Charge for year

2,144

4,766

6,910

At 31 October 2024

10,242

29,185

39,427

NET BOOK VALUE

At 31 October 2024

6,432

15,581

22,013

At 31 October 2023

8,576

18,147

26,723

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Other debtors

39,221

32,332

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

4,740

3,402

Trade creditors

38,199

35,933

Taxation and social security

30,392

25,885

Other creditors

1,650

9,407

74,981

74,627

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans

32,731

38,061

Other creditors

5,000

5,000

37,731

43,061

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

32,731

38,061

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A McCloskey.