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Registered number: 10416619
26c Goldney Road Development Ltd
Unaudited Financial Statements
For The Year Ended 30 October 2023
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10416619
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 641,851 641,851
641,851 641,851
CURRENT ASSETS
Debtors 6 4,280 3,076
Cash at bank and in hand 2,193 1,723
6,473 4,799
Creditors: Amounts Falling Due Within One Year 7 (112,728 ) (85,965 )
NET CURRENT ASSETS (LIABILITIES) (106,255 ) (81,166 )
TOTAL ASSETS LESS CURRENT LIABILITIES 535,596 560,685
Creditors: Amounts Falling Due After More Than One Year 8 (451,874 ) (451,874 )
NET ASSETS 83,722 108,811
CAPITAL AND RESERVES
Called up share capital 9 4,200 4,200
Share premium account 207,900 207,900
Profit and Loss Account (128,378 ) (103,289 )
SHAREHOLDERS' FUNDS 83,722 108,811
Page 1
Page 2
For the year ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Karolina Adamczyk
Director
26th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
26c Goldney Road Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10416619 . The registered office is 1 London Road, Ipswich, Suffolk, IP1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings fully depreciated
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 31 October 2022 1,313
As at 30 October 2023 1,313
Depreciation
As at 31 October 2022 1,313
As at 30 October 2023 1,313
Net Book Value
As at 30 October 2023 -
As at 31 October 2022 -
Page 3
Page 4
5. Investment Property
2023
£
Fair Value
As at 31 October 2022 and 30 October 2023 641,851
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,204 -
Other debtors 3,076 3,076
4,280 3,076
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,140 -
Other creditors 41,054 36,550
Accruals and deferred income 1,141 1,141
Director's loan account 69,393 48,274
112,728 85,965
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 451,874 451,874
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4,200 4,200
Page 4