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REGISTERED NUMBER: 11063312 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GANDALF PROPERTIES LTD

GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GANDALF PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: T C Reed
J P Reed
A V Reed





REGISTERED OFFICE: 13 Esmond Road
London
W4 1JG





REGISTERED NUMBER: 11063312 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,582 3,682
Investment property 5 2,350,000 2,472,924
2,352,582 2,476,606

CURRENT ASSETS
Debtors 6 11,409 25,509
Prepayments and accrued income 649 16,055
Cash at bank 53,088 32,848
65,146 74,412
CREDITORS
Amounts falling due within one year 7 585,430 85,608
NET CURRENT LIABILITIES (520,284 ) (11,196 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,832,298 2,465,410

CREDITORS
Amounts falling due after more than
one year

8

(1,500,911

)

(1,631,383

)

PROVISIONS FOR LIABILITIES (41,686 ) (65,251 )
NET ASSETS 289,701 768,776

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 289,601 768,676
SHAREHOLDERS' FUNDS 289,701 768,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





T C Reed - Director


GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Gandalf Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

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 at the amount of tax payable using the 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 1 ) .

GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2022
and 31 December 2022 4,399
DEPRECIATION
At 1 January 2022 717
Charge for year 1,100
At 31 December 2022 1,817
NET BOOK VALUE
At 31 December 2022 2,582
At 31 December 2021 3,682

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 2,472,924
Impairments (122,924 )
At 31 December 2022 2,350,000
NET BOOK VALUE
At 31 December 2022 2,350,000
At 31 December 2021 2,472,924

Included in fair value of investment property is freehold land of £ 1,352,968 (2021 - £ 1,352,968 ) which is not depreciated.

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2019 278,853
Cost 2,071,147
2,350,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 2,071,147 2,071,147

Investment property was valued on an open market basis on 31 December 2020 by the Director .

GANDALF PROPERTIES LTD (REGISTERED NUMBER: 11063312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 14,100
Other debtors 11,409 11,409
11,409 25,509

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 156 208
Taxation and social security 44,691 45,744
Other creditors 540,583 39,656
585,430 85,608

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 1,500,911 1,631,383

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100