Company Registration No. 08662696 (England and Wales)
Gold Vault Ltd
Unaudited accounts
for the year ended 31 August 2021
Gold Vault Ltd
Unaudited accounts
Contents
Gold Vault Ltd
Company Information
for the year ended 31 August 2021
Company Number
08662696 (England and Wales)
Registered Office
65 Woodgrange Avenue
Harrow
HA3 0XG
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
Gold Vault Ltd
Statement of financial position
as at 31 August 2021
Tangible assets
1,424
1,780
Inventories
355,137
100,427
Cash at bank and in hand
62,676
67,675
Creditors: amounts falling due within one year
(346,637)
(182,985)
Net current assets
112,001
103,599
Total assets less current liabilities
113,425
105,379
Creditors: amounts falling due after more than one year
(47,714)
(50,000)
Called up share capital
1
1
Profit and loss account
65,710
55,378
Shareholders' funds
65,711
55,379
For the year ending 31 August 2021 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 2 August 2022 and were signed on its behalf by
Mr Atif Yaqoob
Director
Company Registration No. 08662696
Gold Vault Ltd
Notes to the Accounts
for the year ended 31 August 2021
Gold Vault Ltd is a private company, limited by shares, registered in England and Wales, registration number 08662696. The registered office is 65 Woodgrange Avenue, Harrow, HA3 0XG.
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.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
20% as per reducing balance method
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.
Gold Vault Ltd
Notes to the Accounts
for the year ended 31 August 2021
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
40,825
118,482
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
43,596
24,508
Taxes and social security
2,507
1,748
Loans from directors
282,377
141,876
7
Creditors: amounts falling due after more than one year
2021
2020
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).
