Company registration number 07248276 (England and Wales)
GDB PROPERTY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
GDB PROPERTY INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GDB PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,416,146
3,417,287
Current assets
Debtors
4
7,069
240
Cash at bank and in hand
2,232
933
9,301
1,173
Creditors: amounts falling due within one year
5
(121,789)
(150,498)
Net current liabilities
(112,488)
(149,325)
Total assets less current liabilities
3,303,658
3,267,962
Creditors: amounts falling due after more than one year
6
(2,202,364)
(2,348,835)
Net assets
1,101,294
919,127
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
1,101,293
919,126
Total equity
1,101,294
919,127

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 16 February 2024
G Boulger
Director
Company registration number 07248276 (England and Wales)
GDB PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
-
Fixtures and fittings
20% on a straight line basis
Motor vehicles
25% on a reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GDB PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2022 and 31 May 2023
3,413,860
56,574
2,217
3,472,651
Depreciation and impairment
At 1 June 2022
-
0
54,373
991
55,364
Depreciation charged in the year
-
0
834
307
1,141
At 31 May 2023
-
0
55,207
1,298
56,505
Carrying amount
At 31 May 2023
3,413,860
1,367
919
3,416,146
At 31 May 2022
3,413,860
2,201
1,226
3,417,287
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
240
Corporation tax recoverable
7,069
-
0
7,069
240
GDB PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
7
7,600
7,600
Other borrowings
7
100,000
100,000
Trade creditors
3,846
8,342
Corporation tax
-
0
24,937
Other taxation and social security
7,823
5,719
Accruals and deferred income
2,520
3,900
121,789
150,498
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
739,100
746,700
Other creditors
1,463,264
1,602,135
2,202,364
2,348,835
7
Loans and overdrafts
2023
2022
£
£
Bank loans
746,700
754,300
Other loans
1,563,264
1,702,135
2,309,964
2,456,435
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share capital of £1 each
1
1
1
1
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