Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31false2022-04-01true3Buying and selling of own real estate3truetrue 12469790 2022-04-01 2023-03-31 12469790 2021-04-01 2022-03-31 12469790 2023-03-31 12469790 2022-03-31 12469790 c:Director1 2022-04-01 2023-03-31 12469790 d:FreeholdInvestmentProperty 2023-03-31 12469790 d:FreeholdInvestmentProperty 2022-03-31 12469790 d:FreeholdInvestmentProperty 3 2022-04-01 2023-03-31 12469790 d:CurrentFinancialInstruments 2023-03-31 12469790 d:CurrentFinancialInstruments 2022-03-31 12469790 d:Non-currentFinancialInstruments 2023-03-31 12469790 d:Non-currentFinancialInstruments 2022-03-31 12469790 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12469790 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12469790 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12469790 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 12469790 d:ShareCapital 2023-03-31 12469790 d:ShareCapital 2022-03-31 12469790 d:RetainedEarningsAccumulatedLosses 2023-03-31 12469790 d:RetainedEarningsAccumulatedLosses 2022-03-31 12469790 c:EntityNoLongerTradingButTradedInPast 2022-04-01 2023-03-31 12469790 c:FRS102 2022-04-01 2023-03-31 12469790 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12469790 c:FullAccounts 2022-04-01 2023-03-31 12469790 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12469790 f:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12469790









GB WEMBLEY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GB WEMBLEY LIMITED
REGISTERED NUMBER: 12469790

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 3 
1,230,023
1,655,812

  
1,230,023
1,655,812

Current assets
  

Stocks
 4 
627,374
-

Debtors: amounts falling due within one year
 5 
290,890
33,536

Cash at bank and in hand
 6 
110,657
12,323

  
1,028,921
45,859

Creditors: amounts falling due within one year
 7 
(10,647)
(32,812)

Net current assets
  
 
 
1,018,274
 
 
13,047

Total assets less current liabilities
  
2,248,297
1,668,859

Creditors: amounts falling due after more than one year
 8 
(2,296,477)
(1,687,496)

  

Net liabilities
  
(48,180)
(18,637)


Capital and reserves
  

Called up share capital 
  
6
6

Profit and loss account
  
(48,186)
(18,643)

  
(48,180)
(18,637)


Page 1

 
GB WEMBLEY LIMITED
REGISTERED NUMBER: 12469790
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

For the year ended 31 March 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr Adam Lipman
Director

Date: 7 August 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
GB WEMBLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

GB Wembley Ltd is a private company limited by shares, incorporated in England & Wales on 8 February 2020 (registered number: 12469790). 
The registered office address of the company is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the shareholders for financial support. As at 31 March 2023, the shareholders have confirmed that they will provide adequate finance to enable the company to continue in operational existence. Therefore, the directors consider it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
GB WEMBLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,655,812


Transfers between classes
(425,789)



At 31 March 2023
1,230,023

The 2023 valuations were made by the Directors, on an open market value for existing use basis.








4.


Stocks

2023
2022
£
£

Work in progress (goods to be sold)
627,374
-

627,374
-



5.


Debtors

2023
2022
£
£


Other debtors
287,874
33,536

Prepayments and accrued income
3,016
-

290,890
33,536


Page 4

 
GB WEMBLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
110,657
12,323

110,657
12,323



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,147
19,312

Other creditors
-
13,500

Accruals and deferred income
2,500
-

10,647
32,812



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
533,981
-

Other creditors
1,762,496
1,687,496

2,296,477
1,687,496



9.


Controlling party

The company is controlled by the directors. 

 
Page 5