Registered number
04033532
GP Camden Town Limited
Filleted Accounts
For the year ended 31 July 2023
ASVSH Accountancy Services Limited
Chartered Certified Accountants
GP Camden Town Limited
Registered number: 04033532
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 1
Investments 4 580,000 580,000
580,000 580,001
Current assets
Cash at bank and in hand 966 962
Creditors: amounts falling due within one year 5 (616,280) (587,416)
Net current liabilities (615,314) (586,454)
Total assets less current liabilities (35,314) (6,453)
Creditors: amounts falling due after more than one year 6 (82,028) (96,970)
Net liabilities (117,342) (103,423)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 124,255 124,255
Profit and loss account (241,697) (227,778)
Shareholder's funds (117,342) (103,423)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G M Pugh
Director
Approved by the board on 16 April 2024
GP Camden Town Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The accounts have been prepared on a going concern basis assuming the continued support of Director and bank.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location of condition of the speccific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Fixtures & fittings
£
Cost
At 1 August 2022 22,714
At 31 July 2023 22,714
Depreciation
At 1 August 2022 22,713
Charge for the year 1
At 31 July 2023 22,714
Net book value
At 31 July 2023 -
At 31 July 2022 1
4 Investment property
Other
investments
£
Cost
At 1 August 2022 580,000
At 31 July 2023 580,000
The 2023 valuations were made by G M Pugh, director, on an open market value for existing use basis.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 14,254 15,214
Other creditors 602,026 572,202
616,280 587,416
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 82,028 96,970
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 96,282 112,184
The bank loan of £96,282 (2022: £112,184) is secured over the investment property, the undertaking and all property and assets present and future, including goodwill, bookdebts, uncalled capital, buildings, fixtures and plant and machinery.
8 Revaluation reserve 2023 2022
£ £
At 1 August 2022 124,255 124,255
At 31 July 2023 124,255 124,255
9 Transactions with directors
The director, G M Pugh, has given a personal guarantee of £50,000 upon the bank loan.
10 Other information
GP Camden Town Limited is a private company limited by shares and incorporated in England. Its registered office is:
Agrimont Depot
Abermule
Montgomery
Powys
SY15 6NH
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