UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
GORDON L. POOLE (SOUTHAMPTON) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
GORDON L. POOLE (SOUTHAMPTON) LIMITED |
GORDON L. POOLE (SOUTHAMPTON) LIMITED (REGISTERED NUMBER: 00571189) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GORDON L. POOLE (SOUTHAMPTON) LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 August 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
GORDON L. POOLE (SOUTHAMPTON) LIMITED (REGISTERED NUMBER: 00571189) |
BALANCE SHEET |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Non-distributable revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
GORDON L. POOLE (SOUTHAMPTON) LIMITED (REGISTERED NUMBER: 00571189) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Gordon L. Poole (Southampton) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable from the company's investment property portfolio. |
Tangible fixed assets |
Equipment | - |
Investment property |
Investment properties are revalued annually based on their fair value. Changes to fair value go through the income statement. Gains and temporary losses are not realised and as such are not subject to current tax and are regarded as non-distributable. Depreciation is not provided. |
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 |
4. | TANGIBLE FIXED ASSETS |
Equipment |
£ |
COST |
At 1 September 2022 |
Disposals | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
GORDON L. POOLE (SOUTHAMPTON) LIMITED (REGISTERED NUMBER: 00571189) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
Additions |
Revaluations | 57,500 |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Investment properties are valued annually by the directors following consultation and guidance from an independent firm of Chartered Surveyors on a fair value basis. The historic costs, as written down for permanent diminution in value, of such properties shown at valuation of £5,447,500 (2022 - £4,940,000), is £3,836,609 (2022 - £3,347,609). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured by way of fixed charge against an investment property. |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 264,490 | 220,934 |
GORDON L. POOLE (SOUTHAMPTON) LIMITED (REGISTERED NUMBER: 00571189) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 August 2023 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 September 2022 |
Charge to Income Statement during year |
Balance at 31 August 2023 |
The deferred tax provision is analysed as follows: |
2023 | 2022 |
Accelerated capital allowances | 10,810 | 9,333 |
Investment property revaluation | 253,733 | 211,601 |
264,543 | 220,934 |
11. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary 25p | 25p | 10,000 | 10,000 |
12. | RELATED PARTY DISCLOSURES |
During the year the company received services from Schofields Chartered Accountants, a practice in which former director Mr P J Schofield is a director. The amount invoiced in respect of fees during the year amounted to £10,460 plus VAT (2022 - £26,520), charged at normal commercial terms. |