REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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GKA (1996) LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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GKA (1996) LTD |
GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2020 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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GKA (1996) LTD |
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COMPANY INFORMATION |
for the Year Ended 31 March 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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STATEMENT OF FINANCIAL POSITION |
31 March 2020 |
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2020 | 2019 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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2,192,224 |
SHAREHOLDERS' FUNDS |
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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. |
GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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GKA (1996) Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill is subject to an annual impairment review by the directors. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2020 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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AMORTISATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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The net book value of tangible fixed assets includes £ 396,303 (2019 - £ 198,450 ) in respect of assets held under hire purchase contracts. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
as restated |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
as restated |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2020 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
as restated |
£ | £ |
Hire purchase contracts |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Hire purchase | 65,789 | 22,853 |
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9. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
as restated |
£ | £ |
Deferred tax | 83,264 | 42,135 |
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Deferred |
tax |
£ |
Balance at 1 April 2019 |
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Charge to Income Statement during year |
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Balance at 31 March 2020 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | as restated |
£ | £ |
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Ordinary | £1 | 3 | 3 |
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'A' Ordinary | £1 | 3 | 3 |
6 | 6 |
GKA (1996) LTD (REGISTERED NUMBER: 03201981) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2020 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
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2020 | 2019 |
as restated |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest is payable on the overdrawn loan account at 2.5%pa. |
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12. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party of the company as control is split equally between A Lems and S Lems by virtue of their shareholding. |