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COMPANY REGISTRATION NUMBER: 11178649
GJL (Overton) Properties Limited
Unaudited Financial Statements
31 January 2023
GJL (Overton) Properties Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
The following pages do not form part of the financial statements
Chartered accountants and business advisers report to the director on the preparation of the unaudited statutory financial statements
7
GJL (Overton) Properties Limited
Director's Report
Year ended 31 January 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 January 2023 .
Director
The director who served the company during the year was as follows:
Mr J V Harper
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 October 2023 and signed on behalf of the board by:
Mr J V Harper
Director
Registered office:
9 Althrey Court Overton Road
Bangor On Dee
Wrexham
LL13 0DA
GJL (Overton) Properties Limited
Statement of Income and Retained Earnings
Year ended 31 January 2023
2023
2022
Note
£
£
Turnover
18,336
13,134
--------
--------
Gross profit
18,336
13,134
Administrative expenses
16,411
17,148
--------
--------
Operating profit/(loss)
1,925
( 4,014)
--------
--------
Profit/(loss) before taxation
1,925
( 4,014)
Tax on profit/(loss)
-------
-------
Profit/(loss) for the financial year and total comprehensive income
1,925
( 4,014)
-------
-------
Retained losses at the start of the year
( 5,159)
( 1,145)
-------
-------
Retained losses at the end of the year
( 3,234)
( 5,159)
-------
-------
All the activities of the company are from continuing operations.
GJL (Overton) Properties Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Current assets
Debtors
4
413
Cash at bank and in hand
149
150
----
----
149
563
Creditors: amounts falling due within one year
5
3,083
5,422
-------
-------
Net current liabilities
2,934
4,859
-------
-------
Total assets less current liabilities
( 2,934)
( 4,859)
-------
-------
Net liabilities
( 2,934)
( 4,859)
-------
-------
Capital and reserves
Called up share capital
300
300
Profit and loss account
( 3,234)
( 5,159)
-------
-------
Shareholders deficit
( 2,934)
( 4,859)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
Mr J V Harper
Director
Company registration number: 11178649
GJL (Overton) Properties Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Althrey Court Overton Road, Bangor On Dee, Wrexham, LL13 0DA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The director considers this basis to be appropriate because of the continuing financial support provided by the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors, loans and directors loans. Directors loans (being repayable upon demand), trade debtors, trade creditors and other loans, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Debtors
2023
2022
£
£
Other debtors
413
----
----
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
673
313
Amounts owed to group undertakings and undertakings in which the company has a participating interest
379
566
Other creditors
2,031
4,543
-------
-------
3,083
5,422
-------
-------
6. Related party transactions
During the year the company made a loan to another company which shares the same director. The balance due at the year end was £379 (2022 - £566).
GJL (Overton) Properties Limited
Management Information
Year ended 31 January 2023
The following pages do not form part of the financial statements.
GJL (Overton) Properties Limited
Chartered Accountants and Business Advisers Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of GJL (Overton) Properties Limited
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GJL (Overton) Properties Limited for the year ended 31 January 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of GJL (Overton) Properties Limited in accordance with the terms of our engagement letter dated 8 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of GJL (Overton) Properties Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GJL (Overton) Properties Limited and its director for our work or for this report.
It is your duty to ensure that GJL (Overton) Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GJL (Overton) Properties Limited. You consider that GJL (Overton) Properties Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of GJL (Overton) Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRUCE ROBERTS & CO LIMITED Chartered Accountants and Business Advisers
Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT
24 October 2023