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REGISTERED NUMBER: 10441564 (England and Wales)










GOWER REALTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






GOWER REALTY LTD (REGISTERED NUMBER: 10441564)






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

Chartered Accountants' Report 9

GOWER REALTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: L Mogridge
G Davies





REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor, Cardigan House
Swansea
SA7 9LA





REGISTERED NUMBER: 10441564 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 100 100
Investment property 6 1,679,144 1,048,914
1,679,244 1,049,014

CURRENT ASSETS
Debtors 7 56,351 41,918
Cash at bank 42,076 20,951
98,427 62,869
CREDITORS
Amounts falling due within one year 8 1,033,709 521,405
NET CURRENT LIABILITIES (935,282 ) (458,536 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

743,962

590,478

PROVISIONS FOR LIABILITIES 164,512 136,012
NET ASSETS 579,450 454,466

CAPITAL AND RESERVES
Called up share capital 20 20
Fair Value Reserve 9 493,535 408,035
Retained earnings 85,895 46,411
SHAREHOLDERS' FUNDS 579,450 454,466

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.

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.

GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

BALANCE SHEET - continued
31 OCTOBER 2023



The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





L Mogridge - Director


GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

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

1. STATUTORY INFORMATION

Gower Realty Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% straight line

Investment property
Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income. Deferred tax is provided against these gains at the rate expected to apply when the property is sold. The treatment is in line with the fair value provisions of the Companies Act.

Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal.

Investment properties are reclassified as 'held for sale' assets from commencement of marketing for disposal, provided that the directors have reasonable expectation that they will be sold within a period of 12 months.

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.

GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

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

2. ACCOUNTING POLICIES - continued

Other operating income
Other operating income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Other operating income includes revenue earned from the rental of its investment properties and from the rendering of services.

Deferred Income
Deferred income includes rental income and service charges received for periods relating to after the year end. Deferred income represents income received but not earned as of the year end. Deferred income includes rental income and service charges received in advanced of the period it relates.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

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

2. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Going Concern
The accounts have been prepared on the going concern basis, on the understanding that the director and shareholder will continue to financially support the company for a period of 12 months from the date of these financial statements. This support will be reviewed at that time.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 833
DEPRECIATION
At 1 November 2022
and 31 October 2023 833
NET BOOK VALUE
At 31 October 2023 -

GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 100
NET BOOK VALUE
At 31 October 2023 100
At 31 October 2022 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,048,914
Additions 516,230
Revaluations 114,000
At 31 October 2023 1,679,144
NET BOOK VALUE
At 31 October 2023 1,679,144
At 31 October 2022 1,048,914

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2017 127,139
Valuation in 2018 274,086
Valuation in 2022 142,822
Valuation in 2023 114,000
Cost 1,021,097
1,679,144

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,021,097 504,867

The investment properties were valued on a fair value basis on 31 October 2023 by the directors of the company .

The directors believe that the current market value of all the properties are £1,679,144.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 587 -
Amounts owed by group undertakings 48,664 41,234
Other debtors 7,100 684
56,351 41,918

GOWER REALTY LTD (REGISTERED NUMBER: 10441564)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,599 797
Taxation and social security 9,262 13,572
Other creditors 1,016,848 507,036
1,033,709 521,405

Included in creditors is an amount of £172,858 (2022:£195,994) which is owed to the directors. This amount is repayable on demand and interest free.

9. RESERVES
Fair
Value
Reserve
£   
At 1 November 2022 408,035
Revaluation 85,500

At 31 October 2023 493,535

10. RELATED PARTY DISCLOSURES

The following company is considered to be a related party of Gower Realty Limited due to sharing the same directorship:

Facility Services Group Limited:
At the date of these financial statements a total of £823,235 was owed to Facility Services Group Limited.

11. NON DISTRIBUTABLE RESERVES

The amount in the fair value reserves is a net gain on Investment Property of £493,535 (2022: £408,035), this amount is non-distributable.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GOWER REALTY LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gower Realty Ltd for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Gower Realty Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gower Realty Ltd and state those matters that we have agreed to state to the Board of Directors of Gower Realty Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gower Realty Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gower Realty Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gower Realty Ltd. You consider that Gower Realty Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gower Realty Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


30 July 2024