Gold Space (UK) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Gold Space (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03464810 . The registered office is 77 Saxon Road, Southall, Middlesex, UB1 1QQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods supplied in the normal course of business, and is shown net of VAT.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is based on daily cash takings net of VAT where applicable.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% per annum on a straight line basis
Fixtures & Fittings	25% per annum on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less applicable selling costs. Cost comprises direct purchase price and, where applicable, overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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Gold Space (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.8. Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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Gold Space (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.9. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.10. Pensions

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.12. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.13. Leases

As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 10)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 December 2024	23,995	28,410	52,405

As at 30 November 2025	23,995	28,410	52,405

Depreciation
As at 1 December 2024	23,995	28,410	52,405

As at 30 November 2025	23,995	28,410	52,405

Net Book Value
As at 30 November 2025	-	-	-

As at 1 December 2024	-	-	-

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Gold Space (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

5. Stocks

	2025	2024
	£	£
Stock of finshed goods	491,533	496,733

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	3,077	4,769

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	117,176	112,490
Bank loans and overdrafts	9,625	3,028
Other loans	18,464	18,600
Other creditors	338,857	316,461
Taxation and social security	5,523	10,926

	489,645	461,505

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	-	3,599

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Stocks	5	491,533		496,733
Debtors	6	3,077		4,769
Cash at bank and in hand		2,947		3,115

		497,557		504,617
Creditors: Amounts Falling Due Within One Year	7	(489,645 )		(461,505 )

NET CURRENT ASSETS (LIABILITIES)			7,912		43,112

TOTAL ASSETS LESS CURRENT LIABILITIES			7,912		43,112

Creditors: Amounts Falling Due After More Than One Year	8		-		(3,599 )

NET ASSETS			7,912		39,513

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			7,910		39,511

SHAREHOLDERS' FUNDS			7,912		39,513