Company Registration No. 04152846 (England and Wales)
GPA Finance Limited
Filleted accounts
for the year ended 28 February 2018
GPA Finance Limited
Filleted accounts
Contents
GPA Finance Limited
Company Information
for the year ended 28 February 2018
Company Number
04152846 (England and Wales)
Registered Office
394 Dudley Road
Winson Green
Birmingham
West Midlands
B18 4HH
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
GPA Finance Limited
Statement of financial position
as at
28 February 2018
Tangible assets
650,691
650,813
Cash at bank and in hand
257,218
195,619
Creditors: amounts falling due within one year
(13,193)
(11,059)
Net current assets
349,025
289,560
Total assets less current liabilities
999,716
940,373
Creditors: amounts falling due after more than one year
(800,906)
(764,046)
Net assets
198,810
176,327
Called up share capital
1,000
1,000
Profit and loss account
197,810
175,327
Shareholders' funds
198,810
176,327
For the year ending 28 February 2018 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.
Approved by the Board on 3 November 2018.
Mr S S Matharu
Director
Company Registration No. 04152846
GPA Finance Limited
Notes to the Accounts
for the year ended 28 February 2018
GPA Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 04152846. The registered office is 394 Dudley Road , Winson Green, Birmingham, West Midlands , B18 4HH .
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Land & buildings
Not depreciated
Fixtures & fittings
15% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
GPA Finance Limited
Notes to the Accounts
for the year ended 28 February 2018
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2017
650,000
6,000
656,000
At 28 February 2018
650,000
6,000
656,000
At 1 March 2017
-
5,187
5,187
Charge for the year
-
122
122
At 28 February 2018
-
5,309
5,309
At 28 February 2018
650,000
691
650,691
At 28 February 2017
650,000
813
650,813
Trade debtors
25,000
25,000
Other debtors
80,000
80,000
6
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
5,332
3,198
Other creditors
7,525
7,525
7
Creditors: amounts falling due after more than one year
2018
2017
Other creditors
800,906
764,046
8
Share capital
2018
2017
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Transactions with related parties
Included in other debtors is a loan to Mr G S Matharu of £80,000 (2017 - £80,000) which is interest free and repayable on demand.
As at 28 February 2018, the balance of £7,525 (2017 - £7,525) was outstanding to Matharu Textiles Ltd. a company in which the Director has a controlling interest.
GPA Finance Limited
Notes to the Accounts
for the year ended 28 February 2018
The ultimate controlling party is considered to be Mr S S Matharu, by virtue of his controlling interest in the company.
11
Average number of employees
During the year the average number of employees was 3 (2017: 2).