G. S. Amar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03879263 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

G. S. AMAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G S Amar

SECRETARY:

G S Amar

REGISTERED OFFICE:

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

REGISTERED NUMBER:

03879263 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Tax Advisers

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

BANKERS:

The Royal Bank of Scotland

91-93 Regent Street

Leamington Spa

CV324NT

FIXED ASSETS

Tangible assets

4

40,893

24,238

CURRENT ASSETS

Stocks

69,952

68,244

Debtors

5

90,702

181,945

Cash at bank

36,797

113,771

197,451

363,960

CREDITORS

Amounts falling due within one year

6

176,263

312,935

NET CURRENT ASSETS

21,188

51,025

TOTAL ASSETS LESS CURRENT LIABILITIES

62,081

75,263

PROVISIONS FOR LIABILITIES

7,769

4,605

NET ASSETS

54,312

70,658

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

7

53,812

70,158

SHAREHOLDERS' FUNDS

54,312

70,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 1 April 2022 and were signed by:

G S Amar - Director

1.	STATUTORY INFORMATION

G. S. Amar 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

180,610

Additions

30,200

At 30 November 2021

210,810

DEPRECIATION

At 1 December 2020

156,372

Charge for year

13,545

At 30 November 2021

169,917

NET BOOK VALUE

At 30 November 2021

40,893

At 30 November 2020

24,238

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Trade debtors

89,533

146,159

Other debtors

-

3,000

Directors' current accounts

-

13,811

Prepayments

1,169

18,975

90,702

181,945

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Bank loans and overdrafts

10,001

-

Trade creditors

129,876

267,096

Corporation tax

14,615

21,835

Social security and other taxes

6,722

(1,483

)

Wages and salaries

9,825

11,899

Pension Payable

482

359

VAT

1,280

2,811

Other creditors

-

8,668

Directors' current accounts

312

-

Accrued expenses

3,150

1,750

176,263

312,935

7.

RESERVES

Retained

earnings

£

At 1 December 2020

115,106

Prior year adjustment

(44,948

)

70,158

Profit for the year

35,946

Dividends

(52,292

)

At 30 November 2021

53,812

8.	ULTIMATE CONTROLLING PARTY

The controlling party is G S Amar.