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REGISTERED NUMBER: 12087514 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

GJ HYDE PROPERTY LTD

GJ HYDE PROPERTY LTD (REGISTERED NUMBER: 12087514)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GJ HYDE PROPERTY LTD

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTOR: GJ Hyde





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ





REGISTERED NUMBER: 12087514 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

GJ HYDE PROPERTY LTD (REGISTERED NUMBER: 12087514)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 34,854 41,129

CURRENT ASSETS
Debtors 5 32,252 2,321
Cash at bank 38,185 35,947
70,437 38,268
CREDITORS
Amounts falling due within one year 6 (50,096 ) (25,751 )
NET CURRENT ASSETS 20,341 12,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,195

53,646

CREDITORS
Amounts falling due after more than one
year

7

(25,915

)

(30,729

)
NET ASSETS 29,280 22,917

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,180 22,817
29,280 22,917

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

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

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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 April 2024 and were signed by:





GJ Hyde - Director


GJ HYDE PROPERTY LTD (REGISTERED NUMBER: 12087514)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

GJ Hyde Property Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 12087514 and its registered office address is Magma House, 16 Davy Court, Castle Mound Way, Rugby. CV23 0UZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Plant and machinery- 25% straight line
Motor vehicles- 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.



GJ HYDE PROPERTY LTD (REGISTERED NUMBER: 12087514)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it related to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense
recognised.as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities of other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have
been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 1,400 46,150 47,550
DEPRECIATION
At 1 August 2022 496 5,925 6,421
Charge for year 350 5,925 6,275
At 31 July 2023 846 11,850 12,696
NET BOOK VALUE
At 31 July 2023 554 34,300 34,854
At 31 July 2022 904 40,225 41,129

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,692 -
Other debtors 26,560 2,321
32,252 2,321

GJ HYDE PROPERTY LTD (REGISTERED NUMBER: 12087514)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,814 4,814
Trade creditors 25,808 2,040
Taxation and social security 5,304 -
Other creditors 14,170 18,897
50,096 25,751

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 25,915 30,729