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REGISTERED NUMBER: 12945657 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GANDERBOND ESTATES LTD

GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GANDERBOND ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs Pollixeni Ktorides
Mr Constantinos Ktorides
Ms Georgia Julie Poyiatgi





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 12945657 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 2,274,137 2,274,137

CURRENT ASSETS
Debtors - 2,076
Cash at bank and in hand 4,408 19,894
4,408 21,970
CREDITORS
Amounts falling due within one year 70,979 45,007
NET CURRENT LIABILITIES (66,571 ) (23,037 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,207,566

2,251,100

CREDITORS
Amounts falling due after more than one
year

812,638

880,447
NET ASSETS 1,394,928 1,370,653

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Share premium 1,356,845 1,356,845
Retained earnings 36,083 11,808
SHAREHOLDERS' FUNDS 1,394,928 1,370,653

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.

GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 March 2024 and were signed on its behalf by:




Mrs Pollixeni Ktorides - Director



Ms Georgia Julie Poyiatgi - Director


GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

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


1. STATUTORY INFORMATION

Ganderbond Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rents receivable.

Investment property
Investment property is shown at most recent valuation and is held for long-term investment. Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment property whose fair value can be measured reliably is carried at fair value. The surplus or deficit is recognised in the income statement accumulated in fair value reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the period. The company engages independent valuers to assist the directors in determining fair value. Deferred taxation is provided on these gains at the rate expected to apply until the property is disposed.

If a reliable measure of fair value is not available without incurring undue costs or effort it shall be transferred to property, plant and equipment and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Depreciation is not provided in respect of such property in accordance to FRS 102 Chapter 16 Investment Property

Financial instruments
The company only enters basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, and other third parties.

Basic financial instruments are recognized at amortized cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognized in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognized 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.


GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

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


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,274,137
NET BOOK VALUE
At 31 March 2023 2,274,137
At 31 March 2022 2,274,137

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 831,201 849,765

The bank loans are secured by first legal charges over the properties of the company and a guarantee from the directors in favour of Lloyds Bank Plc.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £1 2,000 2,000

8. POST BALANCE SHEET EVENTS

In June 2023, the company acquired the entire share capital of Gandebond properties Ltd in exchange for an issue of shares.

GANDERBOND ESTATES LTD (REGISTERED NUMBER: 12945657)

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


9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors who between them own 100% of the issued share capital.