| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
8,949 |
|
|
11,932 |
| Current assets |
|
21,494 |
|
|
21,708 |
|
| Creditors: amount falling due within one year |
|
(193,113) |
|
|
(130,790) |
|
|
Net current assets
|
|
|
(171,619)
|
|
|
(109,082)
|
|
Total assets less current liabilities
|
|
|
(162,670) |
|
|
(97,150) |
| Accruals and deferred income |
|
|
(1,000) |
|
|
(1,000) |
|
Net assets
|
|
|
(163,670) |
|
|
(98,150) |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(163,670) |
|
|
(98,150) |
| |
NOTES TO THE ACCOUNTS
General Information
GMASS Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 15076815, registration address 188 Mitcham Road, Tooting, London, Wandsworth, SW17 9NJ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
20% Straight Line
|
| Motor Vehicles |
20% Straight Line
|
| Fixtures and Fittings |
20% Straight Line
|
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 September 2024 |
8,454 |
|
4,495 |
|
1,966 |
|
14,915 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
8,454 |
|
4,495 |
|
1,966 |
|
14,915 |
| Depreciation |
| At 01 September 2024 |
1,691 |
|
899 |
|
393 |
|
2,983 |
| Charge for year |
1,691 |
|
899 |
|
393 |
|
2,983 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
3,382 |
|
1,798 |
|
786 |
|
5,966 |
| Net book values |
| Closing balance as at 31 August 2025 |
5,072 |
|
2,697 |
|
1,180 |
|
8,949 |
| Opening balance as at 01 September 2024 |
6,763 |
|
3,596 |
|
1,573 |
|
11,932 |
|
| 3. |
Average number of employees
Average number of employees during the year was 3 (2024 : 4).
|
| 4. |
Related parties
During the year the company entered into the following transactions with related parties: | Amount due from/to related party | | Provision for doubtful debt from the related party |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| GEM ENGINEERING & SERVICES UK LTD | 131,816 | | 108,507 | | (131,816) | | (108,507) |
At the year's end, a balance of £131,816 was owed to an associate company, Gem Engineering & Services UK Ltd.
The above balance is interest-free with no fixed date for repayment. |
|
Director Loan
At the year's end, a balance of £54,324 was owed to the director.
The above balance is interest-free with no fixed dates for repayment.
|
For the year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 13 May 2026 and were signed by: --------------------------------
Gulam Thasthagir Gaffoor
Director |
1
|
