Registered number
10530677
Geldeston Estates Ltd
Filleted Accounts
31 January 2022
Geldeston Estates Ltd
Registered number: 10530677
Balance Sheet
as at 31 January 2022
Notes 2022 2021
£ £
Fixed assets
Investment property 3 1,550,000 1,394,473
Current assets
Debtors 4 18,040 12,140
Cash at bank and in hand 1,895 5,474
19,935 17,614
Creditors: amounts falling due within one year 5 (464,545) (466,078)
Net current liabilities (444,610) (448,464)
Total assets less current liabilities 1,105,390 946,009
Creditors: amounts falling due after more than one year 6 (963,901) (963,933)
Provisions for liabilities 8 (29,550) -
Net assets/(liabilities) 111,939 (17,924)
Capital and reserves
Called up share capital 1 1
Other reserves 125,977 -
Profit and loss account (14,039) (17,925)
Shareholders' funds 111,939 (17,924)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Friedman
Director
Approved by the board on 12 September 2022
Geldeston Estates Ltd
Notes to the Accounts
for the year ended 31 January 2022
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
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 as the amount of tax payable using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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 timing differences.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 0 0
3 Investment Property
Land and buildings
£
Cost
At 1 February 2021 1,394,473
Surplus on revaluation 155,527
At 31 January 2022 1,550,000
Depreciation
At 31 January 2022 -
Fair Value and Net Book Value
At 31 January 2022 1,550,000
At 31 January 2021 1,394,473
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices of similar properties.
4 Debtors 2022 2021
£ £
Trade debtors 14,340 12,140
Other debtors 3,700 -
18,040 12,140
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,228 2,761
Other creditors 463,317 463,317
464,545 466,078
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 963,901 963,933
The bank loans are secured by way of a legal charge over the investment property of the company.
7 Bank loans 2022 2021
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 963,901 963,933
8 Provision for liabilities 2022 2021
£ £
Deferred tax provided in the year 29,550 -
9 Other information
Geldeston Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16c Urban Hive
Theydon Road
London
E5 9BQ
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