IRIS Accounts Production v23.4.0.336 12130689 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121306892022-07-31121306892023-07-31121306892022-08-012023-07-31121306892021-07-31121306892021-08-012022-07-31121306892022-07-3112130689ns15:EnglandWales2022-08-012023-07-3112130689ns14:PoundSterling2022-08-012023-07-3112130689ns10:Director12022-08-012023-07-3112130689ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3112130689ns10:SmallEntities2022-08-012023-07-3112130689ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3112130689ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3112130689ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3112130689ns10:FullAccounts2022-08-012023-07-3112130689ns10:OrdinaryShareClass12022-08-012023-07-3112130689ns10:Director22022-08-012023-07-3112130689ns10:Director32022-08-012023-07-3112130689ns10:Director42022-08-012023-07-3112130689ns10:RegisteredOffice2022-08-012023-07-3112130689ns5:CurrentFinancialInstruments2023-07-3112130689ns5:CurrentFinancialInstruments2022-07-3112130689ns5:Non-currentFinancialInstruments2023-07-3112130689ns5:Non-currentFinancialInstruments2022-07-3112130689ns5:ShareCapital2023-07-3112130689ns5:ShareCapital2022-07-3112130689ns5:FurtherSpecificReserve3ComponentTotalEquity2023-07-3112130689ns5:FurtherSpecificReserve3ComponentTotalEquity2022-07-3112130689ns5:RetainedEarningsAccumulatedLosses2023-07-3112130689ns5:RetainedEarningsAccumulatedLosses2022-07-3112130689ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3112130689ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3112130689ns10:OrdinaryShareClass12023-07-3112130689ns5:FurtherSpecificReserve3ComponentTotalEquity2022-07-31
REGISTERED NUMBER: 12130689 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

GI KENT LIMITED

GI KENT LIMITED (REGISTERED NUMBER: 12130689)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GI KENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: J E A Shaddick
J Gutrige
T Gutrige
Mrs M C Shaddick





REGISTERED OFFICE: Updown House
Ramsgate Road
Margate
Kent
CT9 4DT





REGISTERED NUMBER: 12130689 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
2 The Links
HERNE BAY
Kent
CT6 7GQ

GI KENT LIMITED (REGISTERED NUMBER: 12130689)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,825,508 1,650,508

CURRENT ASSETS
Debtors 6 1,502 1,502
Cash at bank and in hand 29,871 118,454
31,373 119,956
CREDITORS
Amounts falling due within one year 7 1,649,069 1,625,246
NET CURRENT LIABILITIES (1,617,696 ) (1,505,290 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,812

145,218

CREDITORS
Amounts falling due after more than one
year

8

(80,000

)

(80,000

)

PROVISIONS FOR LIABILITIES (12,270 ) (9,325 )
NET ASSETS 115,542 55,893

CAPITAL AND RESERVES
Called up share capital 9 1,502 1,502
Fair value reserve 10 36,810 39,755
Retained earnings 77,230 14,636
SHAREHOLDERS' FUNDS 115,542 55,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th March 2024 and were signed on its behalf by:





J E A Shaddick - Director


GI KENT LIMITED (REGISTERED NUMBER: 12130689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

GI Kent Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

Going concern
After making enquires the directors have a reasonable expectation that the company and the group have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

GI KENT LIMITED (REGISTERED NUMBER: 12130689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2022 1,650,508
Additions 175,000
At 31st July 2023 1,825,508
NET BOOK VALUE
At 31st July 2023 1,825,508
At 31st July 2022 1,650,508

In the opinion of the directors the above freehold investment properties has a minimum open market value on existing use basis of £1,825,508 at 31st July 2023 (2022: £1,650,508)

Fair value at 31st July 2023 is represented by:
£   
Valuation in 2023 1,825,508

If freehold investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,776,428 1,601,428

Freehold investment property was valued on an open market basis on 31st July 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,502 1,502

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 16,620 3,433
Other creditors 1,632,449 1,621,813
1,649,069 1,625,246

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 80,000 80,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,502 Ordinary £1 1,502 1,502

GI KENT LIMITED (REGISTERED NUMBER: 12130689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

10. RESERVES
Fair
value
reserve
£   
At 1st August 2022 39,755
Transfer (2,945 )

At 31st July 2023 36,810

11. RELATED PARTY DISCLOSURES

Within other creditors is £180 (2022 - £3,351) owed to the Directors. Also within other creditors is £1,620,072 (2022 - £1,606,445) owed to Tuftree Ltd and £10,997 (2022 - £10,997) owed to Shaddick & Shaddick Ltd, both companies in which the Directors are also Directors.