Company Registration No. 08081684 (England and Wales)
Grand Gallant Sports Limited
Unaudited accounts
for the year ended 31 March 2021
Grand Gallant Sports Limited
Unaudited accounts
Contents
Grand Gallant Sports Limited
Company Information
for the year ended 31 March 2021
Directors
Sheikh Shahzad Hussain
Muhammed Ijaz
Muhammed Shahzad
Company Number
08081684 (England and Wales)
Registered Office
UNIT 4
FROXMER STREET INDUSTRIAL ESTATE
MANCHESTER
M18 8EF
ENGLAND
Accountants
Enso Accountants Ltd
Grand Gallant Sports Limited
Statement of financial position
as at
31 March 2021
Tangible assets
131,261
844
Inventories
264,932
239,779
Cash at bank and in hand
679,992
402,717
Creditors: amounts falling due within one year
(270,630)
(344,090)
Net current assets
736,341
303,031
Total assets less current liabilities
897,022
303,875
Creditors: amounts falling due after more than one year
(61,919)
-
Net assets
835,103
303,875
Called up share capital
100
100
Profit and loss account
835,003
303,775
Shareholders' funds
835,103
303,875
For the year ending 31 March 2021 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2021 and were signed on its behalf by
Muhammed Ijaz
Director
Company Registration No. 08081684
Grand Gallant Sports Limited
Notes to the Accounts
for the year ended 31 March 2021
Grand Gallant Sports Limited is a private company, limited by shares, registered in England and Wales, registration number 08081684. The registered office is UNIT 4, FROXMER STREET INDUSTRIAL ESTATE, MANCHESTER, M18 8EF, ENGLAND.
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.
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:
Motor vehicles
20% reducing balance
Computer equipment
5 year straight line
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2020
-
974
974
Additions
147,724
-
147,724
At 31 March 2021
147,724
974
148,698
At 1 April 2020
-
130
130
Charge for the year
17,112
195
17,307
At 31 March 2021
17,112
325
17,437
At 31 March 2021
130,612
649
131,261
At 31 March 2020
-
844
844
Grand Gallant Sports Limited
Notes to the Accounts
for the year ended 31 March 2021
5
Investments
Other investments
Valuation at 1 April 2020
-
Valuation at 31 March 2021
29,420
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
62,047
4,625
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
8,657
Trade creditors
88,189
149,939
Taxes and social security
183,889
211,419
Other creditors
(1,502)
(2,962)
Loans from directors
54
(22,963)
8
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
61,919
-
9
Average number of employees
During the year the average number of employees was 15 (2020: 11).