REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
G MONEY & SONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
G MONEY & SONS LIMITED |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
G MONEY & SONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
and Chartered Tax Advisers |
Larch House |
Parklands Business Park |
Denmead |
Hampshire |
PO7 6XP |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
BALANCE SHEET |
31 MARCH 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Capital redemption reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
BALANCE SHEET - continued |
31 MARCH 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | STATUTORY INFORMATION |
G Money & Sons Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the amount derived from ordinary activities and stated after taxes and net of Value Added Tax. The harvest is weighed and graded on delivery, at which point its value can be determined. This is the point turnover is recognised. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property is carried at fair value determined annually by the directors using information available to them unless an external valuation has been provided during the financial period. No depreciation is provided. Changes in fair value are recognised in profit or loss. |
Investments |
Investments in unlisted company shares, which have been classified as fixed asset investments as the company intends to hold them on a continuing basis, are remeasured to market value at each balance sheet date where a reliable market valuation can be obtained. Where a reliable market value cannot be established investments in unlisted company shares are measured at cost less accumulated impairment. Gains and losses on remeasurement are recognised in profit or loss for the period. |
Stocks |
Stocks are valued at the lower of cost and net realisable value. Cost is determined on an average cost basis by volume. Net realisable value is the estimated proceeds from the sale of stock on an open market basis. |
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. |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Included in cost or valuation of land and buildings is freehold land of £ 3,740,699 (2021 - £ 3,740,699 ) which is not depreciated. |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 March 2022 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 1999 | 4,851 | - | 4,851 |
Valuation in 2008 | 148,288 | - | 148,288 |
Valuation in 2010 | 660,470 | - | 660,470 |
Valuation in 2011 | (291,675 | ) | - | (291,675 | ) |
Cost | 3,858,120 | 143,019 | 4,001,139 |
4,380,054 | 143,019 | 4,523,073 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
31.3.22 | 31.3.21 |
£ | £ |
Cost | 3,858,120 | 3,858,120 |
Aggregate depreciation | 96,200 | 88,393 |
Value of land in freehold land and buildings | 3,467,862 | 3,467,862 |
Freehold land and buildings were valued on an open market basis on 31 March 2011 by Jackson-Stops & Staff . |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31.3.22 | 31.3.21 |
£ | £ |
Chichester Grain Store | 1 | 1 |
Chichester Group Consultancy | 101 | 101 |
102 | 102 |
The directors have included fixed asset investments at cost as there is no open market for these investments. The directors considers that there was no permanent diminution in value during the year ended 31 March 2022. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2009 | 573,066 |
Valuation in 2010 | (131,828 | ) |
Valuation in 2012 | (124,000 | ) |
Valuation in 2014 | 83,000 |
Valuation in 2016 | 98,000 |
Valuation in 2019 | 21,000 |
Cost | 798,762 |
1,318,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.3.22 | 31.3.21 |
£ | £ |
Cost | 798,762 | 798,762 |
Investment properties were valued on an open market basis on 31 March 2022 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 April 2021 | 6,312,072 |
Deficit for the year | ( |
) | - | - | ( |
) |
Excess depreciation on revalued assets |
4,981 |
(4,981 |
) |
- |
- |
At 31 March 2022 | 6,281,919 |
G MONEY & SONS LIMITED (REGISTERED NUMBER: 00800070) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
10. | RELATED PARTY DISCLOSURES |
Aggregate amounts owed to the directors £1,339 (31.3.21: £1,339). |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |