Giswil Limited 12236765 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is property investment and rental, inclusive of running costs. Digita Accounts Production Advanced 6.30.9574.0 true 12236765 2022-11-01 2023-10-31 12236765 2023-10-31 12236765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-10-31 12236765 core:CurrentFinancialInstruments 2023-10-31 12236765 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12236765 core:Non-currentFinancialInstruments 2023-10-31 12236765 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12236765 bus:SmallEntities 2022-11-01 2023-10-31 12236765 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12236765 bus:FullAccounts 2022-11-01 2023-10-31 12236765 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12236765 bus:RegisteredOffice 2022-11-01 2023-10-31 12236765 bus:Director1 2022-11-01 2023-10-31 12236765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-11-01 2023-10-31 12236765 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12236765 bus:Agent1 2022-11-01 2023-10-31 12236765 core:InvestmentPropertyIncludedWithinPPE 2022-11-01 2023-10-31 12236765 countries:AllCountries 2022-11-01 2023-10-31 12236765 2022-10-31 12236765 2021-11-01 2022-10-31 12236765 2022-10-31 12236765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-10-31 12236765 core:CurrentFinancialInstruments 2022-10-31 12236765 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12236765 core:Non-currentFinancialInstruments 2022-10-31 12236765 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 12236765

Giswil Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Giswil Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Giswil Limited

Company Information

Directors

D P Lloyd

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank PLC
Chelmsford
40-41 High Street
Chelmsford
Essex
CM1 1BE

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Giswil Limited

(Registration number: 12236765)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

770,000

760,000

Current assets

 

Debtors

5

6,409

8,403

Cash at bank and in hand

 

3,847

2,551

 

10,256

10,954

Creditors: Amounts falling due within one year

6

(285,177)

(274,695)

Net current liabilities

 

(274,921)

(263,741)

Total assets less current liabilities

 

495,079

496,259

Creditors: Amounts falling due after more than one year

6

(473,900)

(473,900)

Provisions for liabilities

(12,167)

(9,804)

Net assets

 

9,012

12,555

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

9,011

12,554

Shareholders' funds

 

9,012

12,555

For the financial 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.

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 his 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 Profit and Loss Account.

Approved and authorised by the director on 21 February 2024
 

D P Lloyd
Director

 

Giswil Limited

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

1

General information

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

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

These financial statements were authorised for issue by the director on 21 February 2024.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of assets under rental agreements in the ordinary course of the company’s activities. Turnover is shown net of value added tax and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

Not depreciated

 

Giswil Limited

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

Investment property

Investment property is initially recognised at cost upon acquisition and then carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market priced, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for the provision of assets under rental agreements in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

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

 

Giswil Limited

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

4

Investment properties

2023
£

At 1 November

760,000

Fair value adjustments

10,000

At 31 October

770,000

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by D P Lloyd. The historic cost of the investment property that has been revalued is £707,190 (2022 - £707,190)

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Trade debtors

-

981

Prepayments

6,409

6,817

Other debtors

-

605

6,409

8,403

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

4,229

3,882

Other creditors

280,948

270,813

285,177

274,695

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

473,900

473,900

Creditors include bank loans which are secured of £473,900 (2022 - £473,900).

Creditors include bank loans not repayable by instalments of £414,050 (2022 - £414,050) due after more than five years.

 

Giswil Limited

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

Bank borrowings

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

473,900

473,900