GSH RETAIL LTD - Accounts

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Registered Number: 05661695
England and Wales
Unaudited Financial Statements
for the year ended 31 March 2023
for
GSH RETAIL LTD

GSH RETAIL LTD
Contents Page
For the year ended 31 March 2023

Company information	1
Director's report	2
Accountants' report	3
Statement of financial position	4
Notes to the financial statements	5

GSH RETAIL LTD
Company Information
For the year ended 31 March 2023

Director	Samuel James Bullivant
Registered Number	05661695
Registered Office	UNIT 5, 230 WOODBOURN ROAD SHEFFIELD S9 3LQ
Accountants	Holdsworth Accountants Ltd Omega Court 350 Cemetery Road Sheffield S11 8FT

GSH RETAIL LTD
Director's Report
For the year ended 31 March 2023

Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2023

Principal activities

Principal activity of the company during the financial year was that of the sale of flowers, plants, seeds and/or fertilisers.

Director
The director who served the company throughout the year was as follows:

Samuel James Bullivant

Statement of director's responsibilities

The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.

----------------------------------
Samuel James Bullivant
Director

Date approved: 23 December 2023

GSH RETAIL LTD Accountants' Report For the year ended 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of GSH RETAIL LTD for the year ended 31 March 2023 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GSH RETAIL LTD for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ This report is made solely to the Board of Directors of GSH RETAIL LTD, as a body, in accordance with the terms of our engagement letter dated 23 December 2023 Our work has been undertaken solely to prepare for your approval the accounts of GSH RETAIL LTD and state those matters that we have agreed to state to the Board of Directors of GSH RETAIL LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GSH RETAIL LTD and its Board of Directors as a body for our work or for this report. It is your duty to ensure that GSH RETAIL LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GSH RETAIL LTD. You consider that GSH RETAIL LTD is exempt from the statutory audit requirement for the year We have not been instructed to carry out an audit or a review of the accounts of GSH RETAIL LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 March 2023 .................................................... Holdsworth Accountants Ltd Omega Court 350 Cemetery Road Sheffield S11 8FT 23 December 2023 3

GSH RETAIL LTD
Accountants' Report
For the year ended 31 March 2023

Report to the directors on the preparation of the unaudited statutory accounts of GSH RETAIL LTD for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GSH RETAIL LTD for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of GSH RETAIL LTD, as a body, in accordance with the terms of our engagement letter dated 23 December 2023 Our work has been undertaken solely to prepare for your approval the accounts of GSH RETAIL LTD and state those matters that we have agreed to state to the Board of Directors of GSH RETAIL LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GSH RETAIL LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GSH RETAIL LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GSH RETAIL LTD. You consider that GSH RETAIL LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of GSH RETAIL LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023

....................................................
Holdsworth Accountants Ltd
Omega Court
350 Cemetery Road
Sheffield
S11 8FT
23 December 2023

GSH RETAIL LTD
Statement of Financial Position
As at 31 March 2023

	Notes	2023 £	2022 £ (as restated)
Fixed assets
Tangible fixed assets	3	180,136	187,738
		180,136	187,738
Current assets
Stocks	4	1,194,736	1,023,605
Debtors	5	147,399	54,758
Cash at bank and in hand		273,321	150,119
		1,615,456	1,228,482
Creditors: amount falling due within one year	6	(424,344)	(378,220)
Net current assets		1,191,112	850,262

Total assets less current liabilities		1,371,248	1,038,000
Creditors: amount falling due after more than one year	7	(46,523)	(63,888)
Provisions for liabilities	8	(34,226)	(35,670)
Net assets		1,290,499	938,442

Capital and reserves
Called up share capital	9	1,000	1,000
Profit and loss account		1,289,499	937,442
Shareholder's funds		1,290,499	938,442

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 23 December 2023 and were signed by:

-------------------------------
Samuel James Bullivant
Director

GSH RETAIL LTD
Notes to the Financial Statements
For the year ended 31 March 2023

General Information

GSH RETAIL LTD is a private company, limited by shares, registered in England and Wales, registration number 05661695, registration address UNIT 5, 230 WOODBOURN ROAD, SHEFFIELD, S9 3LQ.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Website cost

Planning and operating costs for the company's website are charged to the income statement as incurred.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures and Fittings	20% Reducing Balance
Equipment	20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 24 (2022 : 30).

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Fixtures and Fittings	Equipment	Total
	£	£	£	£	£
At 01 April 2022	58,826	153,492	93,574	50,248	356,140
Additions	-	13,480	26,354	2,785	42,619
Disposals	-	-	-	-	-
At 31 March 2023	58,826	166,972	119,928	53,033	398,759
Depreciation
At 01 April 2022	17,860	83,968	36,977	29,597	168,402
Charge for year	8,193	20,751	16,590	4,687	50,221
On disposals	-	-	-	-	-
At 31 March 2023	26,053	104,719	53,567	34,284	218,623
Net book values
Closing balance as at 31 March 2023	32,773	62,253	66,361	18,749	180,136
Opening balance as at 01 April 2022	40,966	69,524	56,597	20,651	187,738

Stocks

	2023 £		2022 £
Stocks	1,194,736		1,023,605
	1,194,736		1,023,605

Debtors: amounts falling due within one year

	2023 £	2022 £
Trade Debtors	53,379	10,128
Prepayments & Accrued Income	15,950	8,220
Other Debtors	78,070	36,410
	147,399	54,758

Creditors: amount falling due within one year

	2023 £	2022 £
Trade Creditors	170,381	151,133
Bank Loans & Overdrafts (Secured)	20,000	-
Bank Loans & Overdrafts	-	20,000
Corporation Tax	95,141	139,686
PAYE & Social Security	13,813	10,116
Accrued Expenses	2,202	1,951
Directors' Current Accounts	14,426	45,701
VAT	108,381	9,633
	424,344	378,220

Creditors: amount falling due after more than one year

	2023 £	2022 £
Bank Loans & Overdrafts (secured)	46,523	-
Bank Loans & Overdrafts	-	63,888
	46,523	63,888

Provisions for liabilities

	2023 £		2022 £
Deferred Tax	34,226		35,670
	34,226		35,670

Share Capital

Allotted, called up and fully paid	2023 £		2022 £
1,000 Class A shares of £1.00 each	1,000		1,000
	1,000		1,000