G.S. Mahal & Co. Limited - Accounts to registrar (filleted) - small 18.2
G.S. Mahal & Co. Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| FOR |
| G.S. MAHAL & CO. LIMITED |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| G.S. MAHAL & CO. LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 29 Arboretum Street |
| Nottingham |
| Nottinghamshire |
| NG1 4JA |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| BALANCE SHEET |
| 31 JANUARY 2022 |
| 31.1.22 | 31.1.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| 1. | STATUTORY INFORMATION |
| G.S. Mahal & Co. Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost includes all costs incurred in bringing each product to its present location and condition which includes invoice cost plus freight and duty. Stock is valued using a first in first out basis. Net realisable value is based on estimated selling price less any further costs expected to be incurred to disposal. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. |
| Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 February 2021 |
| Additions |
| At 31 January 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for year |
| At 31 January 2022 |
| NET BOOK VALUE |
| At 31 January 2022 |
| At 31 January 2021 |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Office |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2021 |
| Additions |
| At 31 January 2022 |
| DEPRECIATION |
| At 1 February 2021 |
| Charge for year |
| At 31 January 2022 |
| NET BOOK VALUE |
| At 31 January 2022 |
| At 31 January 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.22 | 31.1.21 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Accrued expenses |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.22 | 31.1.21 |
| value: | £ | £ |
| Ordinary | £1 | 119,900 | 119,900 |
| G.S. MAHAL & CO. LIMITED (REGISTERED NUMBER: 01274540) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2022 |
| 8. | RELATED PARTY DISCLOSURES |
| N S and V S Mahal own the premises which the company occupies at a current rent of £nil (2021: £nil) per annum. |
| Included in other debtors is a loan amounting to £nil (2021 - £60,000) due from Lucknow Investments Ltd which is owned by two of the directors and shareholders. No interest was charged on this loan. |
| 9. | PENSIONS |
| The company operates defined contribution schemes. The assets are managed independently of the company and contributions are charged to the Profit and Loss account in the period they are made. The charge for the year was £10,000 (2021 - £10,000) Accrued premiums at 31 January 2022 amounted to £nil (31 January 2021 £10,000). |