Ghiaci Goodhand Smith Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05013749 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2021

for

Ghiaci Goodhand Smith Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Lewis

REGISTERED OFFICE:

12a Marlborough Place

Brighton

East Sussex

BN1 1WN

REGISTERED NUMBER:

05013749 (England and Wales)

ACCOUNTANTS:

Clarke Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Intangible assets

4

8,936

11,170

Tangible assets

5

3,754

5,006

12,690

16,176

CURRENT ASSETS

Debtors

6

148,521

271,883

Cash at bank and in hand

7,369

3,090

155,890

274,973

CREDITORS

Amounts falling due within one year

7

105,096

104,065

NET CURRENT ASSETS

50,794

170,908

TOTAL ASSETS LESS CURRENT LIABILITIES

63,484

187,084

PROVISIONS FOR LIABILITIES

664

664

NET ASSETS

62,820

186,420

CAPITAL AND RESERVES

Called up share capital

750

750

Retained earnings

62,070

185,670

SHAREHOLDERS' FUNDS

62,820

186,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 by the director and authorised for issue on 28 July 2022 and were signed by:

M Lewis - Director

1.	STATUTORY INFORMATION

Ghiaci Goodhand Smith Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 0, is being amortised evenly over its estimated useful life of nil 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

Computer equipment

-

25% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 7 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2020

and 31 July 2021

179,313

AMORTISATION

At 1 August 2020

168,143

Charge for year

2,234

At 31 July 2021

170,377

NET BOOK VALUE

At 31 July 2021

8,936

At 31 July 2020

11,170

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2020

and 31 July 2021

35,650

47,919

83,569

DEPRECIATION

At 1 August 2020

34,744

43,819

78,563

Charge for year

227

1,025

1,252

At 31 July 2021

34,971

44,844

79,815

NET BOOK VALUE

At 31 July 2021

679

3,075

3,754

At 31 July 2020

906

4,100

5,006

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

-

50,411

Other debtors

148,521

221,472

148,521

271,883

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans and overdrafts

366

366

Trade creditors

-

5,148

Taxation and social security

-

36,865

Other creditors

104,730

61,686

105,096

104,065