GC LINES LTD

GC LINES LTD

GC LINES LTD - Company Information

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1 August 2020 false No description of principal activity Taxfiler 2022.3.2 11464538business:PrivateLimitedCompanyLtd2020-08-012021-07-31 114645382020-07-31 114645382020-08-012021-07-31 11464538business:AuditExempt-NoAccountantsReport2020-08-012021-07-31 11464538business:FullAccounts2020-08-012021-07-31 114645382021-07-31 11464538business:Director12020-08-012021-07-31 11464538business:RegisteredOffice2020-08-012021-07-31 114645382020-07-31 11464538core:WithinOneYear2021-07-31 11464538core:WithinOneYear2020-07-31 11464538core:AfterOneYear2021-07-31 11464538core:AfterOneYear2020-07-31 11464538core:ShareCapital2021-07-31 11464538core:ShareCapital2020-07-31 11464538core:RetainedEarningsAccumulatedLosses2021-07-31 11464538core:RetainedEarningsAccumulatedLosses2020-07-31 11464538business:SmallEntities2020-08-012021-07-31 11464538countries:EnglandWales2020-08-012021-07-31 11464538core:FurnitureFittings2020-08-012021-07-31 11464538core:FurnitureFittings2020-07-31 11464538core:FurnitureFittings2021-07-31 114645382019-08-012020-07-31 iso4217:GBP xbrli:pure
Company Registration No. 11464538 (England and Wales)
GC LINES LTD Unaudited accounts for the year ended 31 July 2021
GC LINES LTD Unaudited accounts Contents
Page
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GC LINES LTD Company Information for the year ended 31 July 2021
Director
Ala Towfiq SHARIF
Company Number
11464538 (England and Wales)
Registered Office
64 BOROUGH HIGH STREET LONDON SE1 1XF ENGLAND
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GC LINES LTD Statement of financial position as at 31 July 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
286 
194 
Current assets
Debtors
5
(226)
1,764 
Cash at bank and in hand
657 
32,764 
431 
34,528 
Creditors: amounts falling due within one year
6
(15,231)
(43,509)
Net current liabilities
(14,800)
(8,981)
Total assets less current liabilities
(14,514)
(8,787)
Creditors: amounts falling due after more than one year
7
(33,030)
(35,000)
Net liabilities
(47,544)
(43,787)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(47,545)
(43,788)
Shareholders' funds
(47,544)
(43,787)
For the year ending 31 July 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 9 April 2022 and were signed on its behalf by
Ala Towfiq SHARIF Director Company Registration No. 11464538
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GC LINES LTD Notes to the Accounts for the year ended 31 July 2021
1
Statutory information
GC LINES LTD is a private company, limited by shares, registered in England and Wales, registration number 11464538. The registered office is 64 BOROUGH HIGH STREET, LONDON, SE1 1XF, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Fixtures & fittings
20% Reducing balance
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2020
303 
Additions
186 
At 31 July 2021
489 
Depreciation
At 1 August 2020
109 
Charge for the year
94 
At 31 July 2021
203 
Net book value
At 31 July 2021
286 
At 31 July 2020
194 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
(226)
1,764 
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GC LINES LTD Notes to the Accounts for the year ended 31 July 2021
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
140 
2,026 
Trade creditors
- 
22,941 
Loans from directors
12,591 
17,342 
Accruals
2,500 
1,200 
15,231 
43,509 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
33,030 
35,000 
8
Average number of employees
During the year the average number of employees was 0 (2020: 0).
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