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Registration number: 11529729

G & SR Regeneration Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2023

 

G & SR Regeneration Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

G & SR Regeneration Ltd

(Registration number: 11529729)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

10,540

14,148

Current assets

 

Debtors

4

796

75

Cash at bank and in hand

 

2,543

2,853

 

3,339

2,928

Prepayments and accrued income

 

663

-

Creditors: Amounts falling due within one year

(26,083)

(23,890)

Net current liabilities

 

(22,081)

(20,962)

Total assets less current liabilities

 

(11,541)

(6,814)

Accruals and deferred income

 

(600)

(600)

Net liabilities

 

(12,141)

(7,414)

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

(12,143)

(7,416)

Shareholders' deficit

 

(12,141)

(7,414)

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

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

G & SR Regeneration Ltd

(Registration number: 11529729)
Abridged Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 18 March 2024 and signed on its behalf by:
 

.........................................
Mr Stuart William Rowley
Director

 

G & SR Regeneration Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

1

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 abridged 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance method

Office equipment

33% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

G & SR Regeneration Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

G & SR Regeneration Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

439

36,434

36,873

At 31 August 2023

439

36,434

36,873

Depreciation

At 1 September 2022

145

22,580

22,725

Charge for the year

145

3,463

3,608

At 31 August 2023

290

26,043

26,333

Carrying amount

At 31 August 2023

149

10,391

10,540

At 31 August 2022

294

13,854

14,148

4

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

6

Related party transactions

 

G & SR Regeneration Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Transactions with directors

2023

At 1 September 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 August 2023
£

Mr Stuart William Rowley

Loan account

(18,708)

4,361

(11,736)

(26,083)

2022

At 1 September 2021
£

Advances to director
£

Other payments made to company by director
£

At 31 August 2022
£

Mr Stuart William Rowley

Loan account

(15,414)

17,628

(20,922)

(18,708)

 

G & SR Regeneration Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

2,830

16,640