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Registration number: 03170609

Goldmedal Foods Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

Goldmedal Foods Ltd

Company Information

Directors | Mr Shabbir Taherali Kanchwala Mrs Gulshan Shabbir Kanchwala Mrs Shabnam Vora

Registered office | 9 Berners Place London United Kingdom W1T 3AD

Accountants | Mehta & Tengra Chartered Accountants9 Berners Place London W1T 3AD

Goldmedal Foods Ltd

(Registration number: 03170609)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 6 | 19,041 | 23,318
Current assets |  |  |
Stocks | 7 | 4,000 | 4,000
Debtors | 8 | 3,507 | 4,347
Cash at bank and in hand |  | 16,324 | 15,967
|  | 23,831 | 24,314
Creditors: Amounts falling due within one year | 9 | (87,540) | (79,949)
Net current liabilities |  | (63,709) | (55,635)
Total assets less current liabilities |  | (44,668) | (32,317)
Creditors: Amounts falling due after more than one year | 9 | (49,322) | (71,190)
Provisions for liabilities |  | (5,035) | (3,514)
Net liabilities |  | (99,025) | (107,021)
Capital and reserves |  |  |
Called up share capital | 10 | 1,000 | 1,000
Retained earnings |  | (100,025) | (108,021)
Shareholders' deficit |  | (99,025) | (107,021)

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2026 and signed on its behalf by:

......................................... Mrs Gulshan Shabbir Kanchwala Director

Goldmedal Foods Ltd

Statement of Changes in Equity for the Year Ended 31 December 2025

| Share capital £ | Retained earnings £ | Total £
At 1 January 2025 | 1,000 | (108,020) | (107,020)
Profit for the year | - | 7,995 | 7,995
At 31 December 2025 | 1,000 | (100,025) | (99,025)

| Share capital £ | Retained earnings £ | Total £
At 1 January 2024 | 1,000 | (124,245) | (123,245)
Profit for the year | - | 16,224 | 16,224
At 31 December 2024 | 1,000 | (108,021) | (107,021)

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the Board on 29 July 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Improvements to property | 15% on written down value
Plant & machinery | 15% on written down value
Fixtures & fittings | 15% on written down value
Computer equipment | 15% on written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax adjustment to prior periods | - | (37)
Deferred taxation |  |
Arising from origination and reversal of timing differences | 1,521 | (620)
Tax expense/(receipt) in the income statement | 1,521 | (657)

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 97,275 | 97,275
At 31 December 2025 | 97,275 | 97,275
Amortisation
At 1 January 2025 | 97,275 | 97,275
At 31 December 2025 | 97,275 | 97,275
Carrying amount
At 31 December 2025 | - | -

6 | Tangible assets

| Improvement to property £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 January 2025 | 13,638 | 54,336 | 11,168 | 25,266 | 104,408
At 31 December 2025 | 13,638 | 54,336 | 11,168 | 25,266 | 104,408
Depreciation
At 1 January 2025 | 8,814 | 41,625 | 6,496 | 24,155 | 81,090
Charge for the year | 724 | 2,686 | 700 | 167 | 4,277
At 31 December 2025 | 9,538 | 44,311 | 7,196 | 24,322 | 85,367
Carrying amount
At 31 December 2025 | 4,100 | 10,025 | 3,972 | 944 | 19,041
At 31 December 2024 | 4,824 | 12,711 | 4,672 | 1,111 | 23,318

7 | Stocks

| 2025 £ | 2024 £
Finished goods | 4,000 | 4,000

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8 | Debtors

| 2025 £ | 2024 £
Trade debtors | - | 105
Prepayments | 2,255 | 1,799
Other debtors | 200 | 199
VAT | 1,052 | 2,244
| 3,507 | 4,347

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 11 | 40,000 | 40,000
Trade creditors |  | 41,865 | 35,744
Taxation and social security |  | 275 | 997
Accruals and deferred income |  | 5,010 | 3,070
Other creditors |  | 390 | 138
|  | 87,540 | 79,949

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 11 | 49,322 | 71,190

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000

11 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 6,668 | 16,668
Shareholders loan | 42,654 | 54,522
| 49,322 | 71,190

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 40,000 | 40,000

12 | Related party transactions

Goldmedal Foods Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Summary of transactions with other related parties

One of the directors of this company is also a director of another UK company.

Expenditure with and payables to related parties

2025 | Other related parties £
Purchase of goods | 189,784
Amounts payable to related party | 38,311

2024 | Other related parties £
Purchase of goods | 207,533
Amounts payable to related party | 39,390