GIH Technology Ltd - Accounts to registrar (filleted) - small 23.2.5

GIH TECHNOLOGY LTD - Company Information

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REGISTERED NUMBER: 13149431 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

GIH TECHNOLOGY LTD

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Mr M K Loney

Mr H Carmel

REGISTERED OFFICE:

26 Holmwood Gardens

London

N3 3NS

REGISTERED NUMBER:

13149431 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

London

NW8 0DL

FIXED ASSETS

Tangible assets

3,167

CURRENT ASSETS

Cash at bank

161,292

107,295

CREDITORS

Amounts falling due within one year

(10,199

)

(32,663

)

NET CURRENT ASSETS

151,093

74,632

TOTAL ASSETS LESS CURRENT
LIABILITIES

154,260

74,632

CREDITORS

Amounts falling due after more than one
year

(447,983

)

(150,106

)

NET LIABILITIES

(293,723

)

(75,474

)

CAPITAL AND RESERVES

Called up share capital

Retained earnings

(293,724

)

(75,475

)

SHAREHOLDERS' FUNDS

(293,723

)

(75,474

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:

Mr H Carmel - Director

1.	STATUTORY INFORMATION

GIH Technology Ltd 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.

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.

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.

Development costs

Development costs are written off to profit and loss in the year in which the expenditure was incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

COST

Additions

211

4,012

4,223

At 31 January 2023

211

4,012

4,223

DEPRECIATION

Charge for year

1,003

1,056

At 31 January 2023

1,003

1,056

NET BOOK VALUE

At 31 January 2023

158

3,009

3,167

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

Trade creditors

Social security and other taxes

8,304

1,608

Accruals and deferred income

1,800

30,960

10,199

32,663

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.1.23

31.1.22

Amounts owed to group undertakings

447,983

150,106

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

Ordinary

8.	ULTIMATE CONTROLLING PARTY

The company is wholly owned by GIH Group Ltd.

At the balance sheet date the company owed GIH Group Ltd £447,983 (2021: £150,106).