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REGISTERED NUMBER: 12263792 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GARY LAMBERT PROPERTIES LIMITED

GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GARY LAMBERT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: G Lambert
Mrs J L Lambert





SECRETARY:





REGISTERED OFFICE: Lothing House
7 Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD





REGISTERED NUMBER: 12263792 (England and Wales)





ACCOUNTANTS: Juler Tooke
Lothing House
Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD

GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 200,000 186,221

CURRENT ASSETS
Cash at bank 1,757 1,649

CREDITORS
Amounts falling due within one year 5 (67,150 ) (67,062 )
NET CURRENT LIABILITIES (65,393 ) (65,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,607

120,808

CREDITORS
Amounts falling due after more than one
year

6

(91,863

)

(94,575

)

PROVISIONS FOR LIABILITIES (6,476 ) (3,858 )
NET ASSETS 36,268 22,375

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 27,611 16,449
Retained earnings 8,557 5,826
36,268 22,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)

BALANCE SHEET - continued
31 OCTOBER 2023


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

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 15 July 2024 and were signed on its behalf by:





G Lambert - Director


GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)

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

1. STATUTORY INFORMATION

Gary Lambert Properties Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 November 2022 186,221
Revaluations 13,779
At 31 October 2023 200,000
NET BOOK VALUE
At 31 October 2023 200,000
At 31 October 2022 186,221

GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2023 is represented by:

Land and
buildings
£   
Valuation in 2021 20,308
Valuation in 2023 13,779
Cost 165,913
200,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Payments on account 623 625
Taxation and social security 651 633
Other creditors 65,876 65,804
67,150 67,062

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 91,863 94,575

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 91,863 94,575

7. RESERVES
Fair
value
reserve
£   
At 1 November 2022 16,449
Non-distributable reserves 11,162

At 31 October 2023 27,611

8. RELATED PARTY DISCLOSURES

Other creditors stated at £65,100 is an intercompany loan with Gary Lambert Construction Limited of which the directors are also directors and shareholders.

GARY LAMBERT PROPERTIES LIMITED (REGISTERED NUMBER: 12263792)

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

9. ULTIMATE CONTROLLING PARTY

The company was under the control of the director's Mr & Mrs G Lambert as holders of the entire share capital throughout the entire period.

The company also operates a loan account with the directors and the balance as at 31 October 2023 was correctly stated at £361 (31st October 2022 £361).