Registered number
12063312
Great Wall Estates Limited
Filleted Accounts
30 June 2023
Great Wall Estates Limited
Registered number: 12063312
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 707,128 321,121
Current assets
Cash at bank and in hand 19,154 72,756
Creditors: amounts falling due within one year 4 (252,022) (170,293)
Net current liabilities (232,868) (97,537)
Total assets less current liabilities 474,260 223,584
Creditors: amounts falling due after more than one year 5 (565,781) (297,850)
Net liabilities (91,521) (74,266)
Capital and reserves
Called up share capital 2 2
Profit and loss account (91,523) (74,268)
Shareholders' funds (91,521) (74,266)
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.
J Zhou
Director
Approved by the board on 26 February 2024
Great Wall Estates Limited
Notes to the Accounts
for the year ended 30 June 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
Rental income is measured at the fair value of the consideration received or receivable, net of discounts.
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:
Freehold buildings over 50 years
(nil if residual value is deemed higher than cost)
Plant and machinery over 3 years
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. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 321,001 180 321,181
Additions 385,927 210 386,137
At 30 June 2023 706,928 390 707,318
Depreciation
At 1 July 2022 - 60 60
Charge for the year - 130 130
At 30 June 2023 - 190 190
Net book value
At 30 June 2023 706,928 200 707,128
At 30 June 2022 321,001 120 321,121
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' current account 234,693 170,293
Other creditors 17,329 -
252,022 170,293
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 565,781 297,850
6 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 565,781 297,850
Secured bank loans 565,781 297,850
The bank loans are mortgages on residential property.
7 Other information
Great Wall Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Basepoint Business Centre
Rivermead Drive
Swindon
Wiltshire
SN5 7EX
Great Wall Estates Limited 12063312 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 J Zhou No description of principal activity 12063312 2021-07-01 2022-06-30 12063312 core:WithinOneYear 2022-06-30 12063312 core:AfterOneYear 2022-06-30 12063312 core:ShareCapital 2022-06-30 12063312 core:RetainedEarningsAccumulatedLosses 2022-06-30 12063312 2022-07-01 2023-06-30 12063312 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12063312 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12063312 bus:Director40 2022-07-01 2023-06-30 12063312 1 2022-07-01 2023-06-30 12063312 2 2022-07-01 2023-06-30 12063312 core:LandBuildings 2022-07-01 2023-06-30 12063312 core:PlantMachinery 2022-07-01 2023-06-30 12063312 countries:England 2022-07-01 2023-06-30 12063312 bus:FRS102 2022-07-01 2023-06-30 12063312 bus:FullAccounts 2022-07-01 2023-06-30 12063312 2023-06-30 12063312 core:WithinOneYear 2023-06-30 12063312 core:AfterOneYear 2023-06-30 12063312 core:ShareCapital 2023-06-30 12063312 core:RetainedEarningsAccumulatedLosses 2023-06-30 12063312 core:LandBuildings 2023-06-30 12063312 core:PlantMachinery 2023-06-30 12063312 2022-06-30 12063312 core:LandBuildings 2022-06-30 12063312 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure