Company Registration No. 05703316 (England and Wales)
Gaks Wines Limited
Unaudited accounts
for the year ended 31 March 2025
Gaks Wines Limited
Unaudited accounts
Contents
Gaks Wines Limited
Statement of financial position
as at 31 March 2025
Tangible assets
18,564
24,489
Inventories
120,600
129,500
Cash at bank and in hand
74,767
26,003
Creditors: amounts falling due within one year
(74,564)
(65,223)
Net current assets
219,469
189,224
Total assets less current liabilities
238,033
213,713
Provisions for liabilities
Deferred tax
(3,401)
(4,465)
Net assets
234,632
209,248
Called up share capital
2
2
Profit and loss account
234,630
209,246
Shareholders' funds
234,632
209,248
For the year ending 31 March 2025 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 17 December 2025 and were signed on its behalf by
Avtar Gakhal
Director
Company Registration No. 05703316
Gaks Wines Limited
Notes to the Accounts
for the year ended 31 March 2025
Gaks Wines Limited is a private company, limited by shares, registered in England and Wales, registration number 05703316. The registered office is 126 Hermon Hill, South Woodford, London, E18 1QB.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Fixtures & fittings
25% reducing balance basis
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Gaks Wines Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2024
16,000
116,418
132,418
At 31 March 2025
16,263
116,418
132,681
At 1 April 2024
9,250
98,679
107,929
Charge for the year
1,688
4,500
6,188
At 31 March 2025
10,938
103,179
114,117
At 31 March 2025
5,325
13,239
18,564
At 31 March 2024
6,750
17,739
24,489
Amounts falling due within one year
Amounts falling due after more than one year
Accrued income and prepayments
-
296
Other debtors
97,532
97,542
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
9,234
27,298
Taxes and social security
12,963
9,750
Other creditors
5,001
3,197
Loans from directors
37,617
19,495
7
Transactions with related parties
During the year, the director loaned the Company £18,123 (2024: Nil). This loan ins interest free and repayable on demand. At the balance sheet date, the Company owed the director £37,617 (2024: £19,494).
8
Average number of employees
During the year the average number of employees was 8 (2024: 10).