Registered number
11105171
Guy Properties Limited
Filleted Accounts
31 December 2023
Guy Properties Limited
Registered number: 11105171
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,963 14,329
10,963 14,329
Current assets
Stocks 537,890 535,439
Debtors 4 359 532
Cash at bank and in hand 1 2
538,250 535,973
Creditors: amounts falling due within one year 5 (574,028) (558,169)
Net current liabilities (35,778) (22,196)
Total assets less current liabilities (24,815) (7,867)
Creditors: amounts falling due after more than one year 6 (14,167) (24,166)
Provisions for liabilities (2,083) (2,723)
Net liabilities (41,065) (34,756)
Capital and reserves
Called up share capital 100 100
Profit and loss account (41,165) (34,856)
Shareholders' funds (41,065) (34,756)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr D Guy
Director
Approved by the board on 26 July 2024
Guy Properties Limited
Notes to the Accounts
for the year ended 31 December 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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
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:
Computer equipment 33% on written down value
Plant and machinery 20% on written down value
Motor vehicles 25% on written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Computer equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 1,990 9,062 16,220 27,272
At 31 December 2023 1,990 9,062 16,220 27,272
Depreciation
At 1 January 2023 1,146 3,372 8,425 12,943
Charge for the year 279 1,138 1,949 3,366
At 31 December 2023 1,425 4,510 10,374 16,309
Net book value
At 31 December 2023 565 4,552 5,846 10,963
At 31 December 2022 844 5,690 7,795 14,329
4 Debtors 2023 2022
£ £
Other debtors 359 532
359 532
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 972 462
Taxation and social security costs (22) (172)
Other creditors 563,078 547,879
574,028 558,169
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,167 24,166
14,167 24,166
7 Other information
Guy Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Royal Oak
106 Main Street
Yaxley
Peterborough
PE7 3LP
Guy Properties Limited 11105171 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Mr D Guy No description of principal activity 11105171 2022-01-01 2022-12-31 11105171 core:WithinOneYear 2022-12-31 11105171 core:AfterOneYear 2022-12-31 11105171 core:ShareCapital 2022-12-31 11105171 core:RetainedEarningsAccumulatedLosses 2022-12-31 11105171 2023-01-01 2023-12-31 11105171 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11105171 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11105171 bus:Director40 2023-01-01 2023-12-31 11105171 1 2023-01-01 2023-12-31 11105171 2 2023-01-01 2023-12-31 11105171 core:LandBuildings 2023-01-01 2023-12-31 11105171 core:PlantMachinery 2023-01-01 2023-12-31 11105171 core:Vehicles 2023-01-01 2023-12-31 11105171 countries:England 2023-01-01 2023-12-31 11105171 bus:FRS102 2023-01-01 2023-12-31 11105171 bus:FilletedAccounts 2023-01-01 2023-12-31 11105171 2023-12-31 11105171 core:WithinOneYear 2023-12-31 11105171 core:AfterOneYear 2023-12-31 11105171 core:ShareCapital 2023-12-31 11105171 core:RetainedEarningsAccumulatedLosses 2023-12-31 11105171 core:LandBuildings 2023-12-31 11105171 core:PlantMachinery 2023-12-31 11105171 core:Vehicles 2023-12-31 11105171 2022-12-31 11105171 core:LandBuildings 2022-12-31 11105171 core:PlantMachinery 2022-12-31 11105171 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure