REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
G & B PROPERTY SALES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
G & B PROPERTY SALES LIMITED |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
G & B PROPERTY SALES LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 July 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Mellor Road |
Cheadle Hulme |
Cheadle |
Cheshire |
SK8 5AT |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
ABRIDGED BALANCE SHEET |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
ABRIDGED BALANCE SHEET - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
G & B Property Sales Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparation of financial statements |
The accounts have been prepared on the basis that the directors will continue to provide financial support to the business. |
The company is the parent undertaking of a small group and as such is not required by Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group. |
The principal accounting policies of the company have remained unchanged from the previous year and are set out below. |
Preparation of consolidated financial statements |
The financial statements contain information about G & B Property Sales Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
6. | FIXED ASSET INVESTMENTS |
The cost and net book value of the investment in subsidiary undertakings at 31 July 2023 was £Nil (2022 - £Nil). |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Disposals | ( |
) |
Revaluations | (65,000 | ) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2023 |
7. | INVESTMENT PROPERTY - continued |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2014 | 41,953 |
Valuation in 2016 | 105,000 |
Valuation in 2018 | 125,000 |
Valuation in 2022 | 49,897 |
Valuation in 2023 | (99,897 | ) |
Cost | 573,047 |
795,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 573,047 | 748,150 |
investment property was valued on an open market basis on 31 July 2023 by Thornley Groves Estate Agents . |
8. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 42,171 | 45,920 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31 July 2023 |