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REGISTERED NUMBER: 02707494 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

G F A CONSTRUCTION LIMITED

G F A CONSTRUCTION LIMITED (REGISTERED NUMBER: 02707494)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G F A CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Z Rodney
Miss S L Rodney





SECRETARY: Z Rodney





REGISTERED OFFICE: 16 South End
Croydon
Surrey
CR0 1DN





REGISTERED NUMBER: 02707494 (England and Wales)





ACCOUNTANTS: Averillo & Associates
Chartered Accountants
16 South End
Croydon
Surrey
CR0 1DN

G F A CONSTRUCTION LIMITED (REGISTERED NUMBER: 02707494)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 720,000 720,000

CURRENT ASSETS
Cash at bank 1,145 1,109

CREDITORS
Amounts falling due within one year 5 366,629 346,403
NET CURRENT LIABILITIES (365,484 ) (345,294 )
TOTAL ASSETS LESS CURRENT LIABILITIES 354,516 374,706

CREDITORS
Amounts falling due after more than one
year

6

-

46,884
NET ASSETS 354,516 327,822

CAPITAL AND RESERVES
Called up share capital 9 240 240
Revaluation reserve 10 139,724 139,724
Retained earnings 10 214,552 187,858
SHAREHOLDERS' FUNDS 354,516 327,822

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 22 February 2024 and were signed on its behalf by:



Miss S L Rodney - Director


G F A CONSTRUCTION LIMITED (REGISTERED NUMBER: 02707494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

G F A Construction 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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 720,000
NET BOOK VALUE
At 31 March 2023 720,000
At 31 March 2022 720,000

G F A CONSTRUCTION LIMITED (REGISTERED NUMBER: 02707494)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 139,724
Cost 580,276
720,000

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

2023 2022
£    £   
Cost 580,276 580,276

The investment property was valued on an open market basis basis on 31 March 2019 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 7) 39,884 35,000
Corporation tax 10,713 4,452
Other creditors 52,889 54,872
Shareholder loans 261,403 251,239
Accruals and deferred income 1,740 840
366,629 346,403

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 7) - 46,884

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in more than five
years by instalments

-

46,884

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 39,884 35,000

Amounts falling due in more than five years:

G F A CONSTRUCTION LIMITED (REGISTERED NUMBER: 02707494)

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


7. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans repayable in more than five
years by instalments

-

46,884

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 39,884 81,884

The bank loans are secured on the freehold property.

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
240 Ordinary £1 240 240

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 187,858 139,724 327,582
Profit for the year 26,694 26,694
At 31 March 2023 214,552 139,724 354,276