Registered number
13188960
GC Park Limited
Filleted Accounts
31 March 2023
GC Park Limited
Registered number: 13188960
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Stocks 704,900 2,465,066
Debtors 3 466 -
Cash at bank and in hand 1,353,911 7,675
2,059,277 2,472,741
Creditors: amounts falling due within one year 4 (1,463,347) (2,472,739)
Net current assets 595,930 2
Net assets 595,930 2
Capital and reserves
Called up share capital 2 2
Profit and loss account 595,928 -
Shareholders' funds 595,930 2
The directors are 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 directors acknowledge their 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.
P G Roberts
Director
Approved by the board on 4 October 2023
GC Park Limited
Notes to the Accounts
for the year ended 31 March 2023
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, net of discounts and value added taxes. Turnover is revenue from completed property sales.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Debtors 2023 2022
£ £
Other debtors 466 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 139,041 (19,507)
Other creditors 1,324,306 2,492,246
1,463,347 2,472,739
5 Other information
GC Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 4a, 1st Floor
Glen House
Palmers Lane
Bishops Stortford
CM23 3XB
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