Company registration number 01378623 (England and Wales)
GIAWARD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
GIAWARD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GIAWARD LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,815
3,312
Investment properties
5
1,146,596
1,146,596
1,149,411
1,149,908
Current assets
Debtors
6
418
2,503
Cash at bank and in hand
365,714
349,409
366,132
351,912
Creditors: amounts falling due within one year
7
(68,400)
(68,536)
Net current assets
297,732
283,376
Total assets less current liabilities
1,447,143
1,433,284
Provisions for liabilities
(70,625)
(53,675)
Net assets
1,376,518
1,379,609
Capital and reserves
Called up share capital
100
100
Revaluation reserve
290,429
307,379
Profit and loss reserves
1,085,989
1,072,130
Total equity
1,376,518
1,379,609

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 July 2024 and are signed on its behalf by:
B A O'Regan
Director
Company Registration No. 01378623
GIAWARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Giaward Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rental income from investment properties which is recognised on an accruals basis, with any outstanding rental income at the year end included within trade debtors. Any rent received which relates to future periods is included as deferred income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance basis
Fixtures, fittings & equipment
15% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
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.

 

1.6
Equity instruments

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

GIAWARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
22,760
13,704
36,464
Depreciation and impairment
At 1 December 2022
21,553
11,599
33,152
Depreciation charged in the year
181
316
497
At 30 November 2023
21,734
11,915
33,649
Carrying amount
At 30 November 2023
1,026
1,789
2,815
At 30 November 2022
1,207
2,105
3,312
5
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
1,146,596

Investment property comprises a number of rental properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 30 November 2023 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historic cost of the properties is £785,542 (2022 £785,542).

 

GIAWARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
418
2,503
7
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
3,883
3,193
Other creditors
64,517
65,343
68,400
68,536
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