Registered number
09694398
G&D Investment Properties Limited
Unaudited Filleted Accounts
31 March 2023
G&D Investment Properties Limited
Registered number: 09694398
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,307 13,580
Investment property 4 1,090,000 1,275,000
1,100,307 1,288,580
Current assets
Debtors 5 1,392 1,504
Cash at bank and in hand 49,689 139,771
51,081 141,275
Creditors: amounts falling due within one year 6 (63,018) (291,473)
Net current liabilities (11,937) (150,198)
Total assets less current liabilities 1,088,370 1,138,382
Creditors: amounts falling due after more than one year 7 (727,157) (849,353)
Provisions for liabilities (69,805) (53,039)
Net assets 291,408 235,990
Capital and reserves
Called up share capital 100 100
Profit and loss account 9 291,308 235,890
Shareholders' funds 291,408 235,990
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.
G Agrotis
Director
Approved by the board on 27 November 2023
G&D Investment Properties 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 represents rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% per annum, reducing balance basis
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 27,374
Additions 2,401
Disposals (8,060)
At 31 March 2023 21,715
Depreciation
At 1 April 2022 13,794
Charge for the year 3,436
On disposals (5,822)
At 31 March 2023 11,408
Net book value
At 31 March 2023 10,307
At 31 March 2022 13,580
4 Investment property
Investment
properties
£
Fair value
At 1 April 2022 1,275,000
Fair value adjustment 75,000
Disposals (260,000)
At 31 March 2023 1,090,000
Historical cost
At 1 April 2022 1,009,429
At 31 March 2023 813,476
5 Debtors 2023 2022
£ £
Other debtors 1,392 1,504
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,285 126,848
Taxation and social security costs 13,134 205
Other creditors 43,599 164,420
63,018 291,473
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 676,546 682,860
Other creditors 50,611 166,493
727,157 849,353
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 651,406 671,880
Secured bank loans 682,831 809,708
The loans are secured on the company's properties by way of legal mortgages including fixed charges and negative pledge.
9 Profit and loss account 2023 2022
£ £
Distributable reserves 83,915 20,777
Non-distributable reserves 207,393 215,113
291,308 235,890
9 Other information
G&D Investment Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Gateway Mews
London
N11 2UT
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