George Searles Ltd 10267924 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 10267924 2022-08-01 2023-07-31 10267924 2023-07-31 10267924 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 10267924 1 2023-07-31 10267924 bus:SmallEntities 2022-08-01 2023-07-31 10267924 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10267924 bus:FilletedAccounts 2022-08-01 2023-07-31 10267924 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 10267924 bus:RegisteredOffice 2022-08-01 2023-07-31 10267924 bus:Director1 2022-08-01 2023-07-31 10267924 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10267924 countries:EnglandWales 2022-08-01 2023-07-31 10267924 1 2022-08-01 2023-07-31 10267924 1 2022-07-31 10267924 2021-08-01 2022-07-31 10267924 2022-07-31 10267924 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 10267924 1 2022-07-31 10267924 1 2021-08-01 2022-07-31 10267924 1 2021-07-31 iso4217:GBP xbrli:pure

Registration number: 10267924

George Searles Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

George Searles Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

George Searles Ltd

(Registration number: 10267924)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Stocks

40,378

31,973

Creditors: Amounts falling due within one year

4

(59,883)

(48,011)

Net liabilities

 

(19,505)

(16,038)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(19,605)

(16,138)

Shareholders' deficit

 

(19,505)

(16,038)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 10 April 2024
 


N Searles
Director

 

George Searles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is the development of building projects.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis with the company reliant upon the continued support of the director.

 

George Searles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

630

630

Other creditors

59,253

47,381

59,883

48,011

5

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

George Searles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

6

Financial commitments, guarantees and contingencies

In a prior year, the director transferred ownership of land to the company with the value of £4,500 on the condition if planning permission is granted on the land for development of dwellings, the company owes the director £25,000 per dwelling in recognition of the increased value of land.

7

Related party transactions

Transactions with the director

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Director

(47,381)

(11,872)

(59,253)

       
     

 

2022

At 1 August 2021
£

Advances to director
£

At 31 July 2022
£

Director

(42,821)

(4,560)

(47,381)