2 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 301,886 301,886 301,886 xbrli:pure xbrli:shares iso4217:GBP 02863354 2022-11-01 2023-10-31 02863354 2023-10-31 02863354 2021-11-01 2022-10-31 02863354 2022-10-31 02863354 bus:Director1 2022-11-01 2023-10-31 02863354 core:WithinOneYear 2023-10-31 02863354 core:WithinOneYear 2022-10-31 02863354 core:AfterOneYear 2023-10-31 02863354 core:AfterOneYear 2022-10-31 02863354 core:ShareCapital 2023-10-31 02863354 core:ShareCapital 2022-10-31 02863354 core:CapitalRedemptionReserve 2023-10-31 02863354 core:CapitalRedemptionReserve 2022-10-31 02863354 core:RetainedEarningsAccumulatedLosses 2023-10-31 02863354 core:RetainedEarningsAccumulatedLosses 2022-10-31 02863354 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 02863354 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 02863354 bus:SmallEntities 2022-11-01 2023-10-31 02863354 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02863354 bus:FullAccounts 2022-11-01 2023-10-31 02863354 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02863354 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02863354 core:AfterOneYear 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 02863354
G.B. PROPERTY DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2023
G.B. PROPERTY DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
301,886
301,886
CURRENT ASSETS
Cash at bank and in hand
87,293
79,963
CREDITORS: amounts falling due within one year
6
37,177
33,504
--------
--------
NET CURRENT ASSETS
50,116
46,459
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
352,002
348,345
CREDITORS: amounts falling due after more than one year
7
46,240
51,370
---------
---------
NET ASSETS
305,762
296,975
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
200
200
Capital redemption reserve
100
100
Profit and loss account
305,462
296,675
---------
---------
SHAREHOLDERS FUNDS
305,762
296,975
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
G.B. PROPERTY DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 3 April 2024 , and are signed on behalf of the board by:
Mr R L Green
Director
Company registration number: 02863354
G.B. PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount derived from the provision of management services and property rental income within the company's ordinary activities.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Freehold investment property
£
Cost
At 1 November 2022 and 31 October 2023
301,886
---------
Depreciation
At 1 November 2022 and 31 October 2023
---------
Carrying amount
At 31 October 2023
301,886
---------
At 31 October 2022
301,886
---------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,686
6,242
Corporation tax
4,877
4,976
Other creditors
26,614
22,286
--------
--------
37,177
33,504
--------
--------
The amounts shown in bank loans and overdrafts are secured by the company.
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
46,240
51,370
--------
--------
The amounts shown in bank loans and overdrafts are secured by the company.