Silverfin false false 30/06/2023 01/07/2022 30/06/2023 George Robert Machan 25/10/2017 Martin William Machan 25/10/2017 Matthew William Machan 25/10/2017 14 March 2024 The principal activity of the Company during the financial year was buying, selling and letting of own real estate. 11031193 2023-06-30 11031193 bus:Director1 2023-06-30 11031193 bus:Director2 2023-06-30 11031193 bus:Director3 2023-06-30 11031193 2022-06-30 11031193 core:CurrentFinancialInstruments 2023-06-30 11031193 core:CurrentFinancialInstruments 2022-06-30 11031193 core:Non-currentFinancialInstruments 2023-06-30 11031193 core:Non-currentFinancialInstruments 2022-06-30 11031193 core:ShareCapital 2023-06-30 11031193 core:ShareCapital 2022-06-30 11031193 core:FurtherSpecificReserve3ComponentTotalEquity 2023-06-30 11031193 core:FurtherSpecificReserve3ComponentTotalEquity 2022-06-30 11031193 core:RetainedEarningsAccumulatedLosses 2023-06-30 11031193 core:RetainedEarningsAccumulatedLosses 2022-06-30 11031193 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-06-30 11031193 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-06-30 11031193 core:Non-currentFinancialInstruments core:Secured 2023-06-30 11031193 2022-07-01 2023-06-30 11031193 bus:FilletedAccounts 2022-07-01 2023-06-30 11031193 bus:SmallEntities 2022-07-01 2023-06-30 11031193 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 11031193 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11031193 bus:Director1 2022-07-01 2023-06-30 11031193 bus:Director2 2022-07-01 2023-06-30 11031193 bus:Director3 2022-07-01 2023-06-30 11031193 2021-07-01 2022-06-30 11031193 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 11031193 (England and Wales)

GUNNS INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial period ended 30 June 2023
Pages for filing with the registrar

GUNNS INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial period ended 30 June 2023

Contents

GUNNS INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2023
GUNNS INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 30.06.2023 30.06.2022
£ £
Fixed assets
Investment property 3 1,835,000 2,155,000
1,835,000 2,155,000
Current assets
Debtors 4 35,625 20,074
Cash at bank and in hand 3,166 31,856
38,791 51,930
Creditors: amounts falling due within one year 5 ( 470,055) ( 494,551)
Net current liabilities (431,264) (442,621)
Total assets less current liabilities 1,403,736 1,712,379
Creditors: amounts falling due after more than one year 6 ( 1,394,103) ( 1,394,103)
Provision for liabilities ( 38,231) ( 89,856)
Net (liabilities)/assets ( 28,598) 228,420
Capital and reserves
Called-up share capital 100 100
Undistributable reserve 114,695 383,071
Profit and loss account ( 143,393 ) ( 154,751 )
Total shareholders' (deficit)/funds ( 28,598) 228,420

For the financial period ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gunns Investments Limited (registered number: 11031193) were approved and authorised for issue by the Board of Directors on 14 March 2024. They were signed on its behalf by:

Martin William Machan
Director
GUNNS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 June 2023
GUNNS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gunns Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Pest House Bedlam Street, Hurstpierpoint, Hassocks, BN6 9EW, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

30.06.2023 30.06.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 3 3

3. Investment property

Investment property
£
Valuation
As at 01 July 2022 2,155,000
Fair value movement (320,000)
As at 30 June 2023 1,835,000

The investment property has been valued by the Directors at market value as at 30 June 2023.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

30.06.2023 30.06.2022
£ £
Historic cost 1,682,073 1,682,073

4. Debtors

30.06.2023 30.06.2022
£ £
Amounts owed by own subsidiaries 18,495 12,495
Other debtors 17,130 7,579
35,625 20,074

5. Creditors: amounts falling due within one year

30.06.2023 30.06.2022
£ £
Trade creditors 108 214
Amounts owed to associates 158,618 158,618
Other taxation and social security 0 300
Other creditors 311,329 335,419
470,055 494,551

6. Creditors: amounts falling due after more than one year

30.06.2023 30.06.2022
£ £
Bank loans (secured £ 1,361,504) 1,394,103 1,394,103

The bank loans are secured on freehold properties of the Company with a carrying value of £1,835,000 (2021: £2,155,000).