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REGISTERED NUMBER: 09646786 (England and Wales)















G10 Property Developments Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






G10 Property Developments Limited (Registered number: 09646786)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


G10 Property Developments Limited

Company Information
for the Year Ended 30 June 2023







Director: Mr J L Parsons





Registered office: PO Box 4385
Cardiff
CF14 8LH





Registered number: 09646786 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

G10 Property Developments Limited (Registered number: 09646786)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
Fixed assets
Property, plant and equipment 4 2,304 3,072

Current assets
Inventories 380,063 380,063
Debtors 5 7,433 6,307
Cash at bank 249 -
387,745 386,370
Creditors
Amounts falling due within one year 6 (384,328 ) (378,628 )
Net current assets 3,417 7,742
Total assets less current liabilities 5,721 10,814

Creditors
Amounts falling due after more than one
year

7

(41,667

)

(41,667

)
Net liabilities (35,946 ) (30,853 )

Capital and reserves
Called up share capital 10 1 1
Retained earnings (35,947 ) (30,854 )
Shareholders' funds (35,946 ) (30,853 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





Mr J L Parsons - Director


G10 Property Developments Limited (Registered number: 09646786)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. Statutory information

G10 Property Developments 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

G10 Property Developments Limited (Registered number: 09646786)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. Employees and directors

The average number of employees during the year was NIL (2022 - 1 ).

4. Property, plant and equipment
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 July 2022
and 30 June 2023 22,091 3,569 25,660
Depreciation
At 1 July 2022 19,019 3,569 22,588
Charge for year 768 - 768
At 30 June 2023 19,787 3,569 23,356
Net book value
At 30 June 2023 2,304 - 2,304
At 30 June 2022 3,072 - 3,072

5. Debtors: amounts falling due within one year
2023 2022
£    £   
VAT 26 95
Deferred tax asset 7,407 6,212
7,433 6,307

Deferred tax asset
2023 2022
£    £   
Accelerated capital allowances (438 ) (584 )
Unrelieved trading losses 7,845 6,796
7,407 6,212

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts - 4
Other loans 228,333 228,333
Trade creditors 7,313 10,193
Social security and other taxes 150 150
Directors' current accounts 144,132 135,448
Accrued expenses 4,400 4,500
384,328 378,628

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other loans - 1-2 years 10,000 10,000
Other loans - 2-5 years 30,000 30,000
Other loans more 5yrs instal 1,667 1,667
41,667 41,667

G10 Property Developments Limited (Registered number: 09646786)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. Creditors: amounts falling due after more than one year - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 1,667 1,667

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Other loan 100,000 100,000

The loan is secured on the land at Alandale Road and associated buildings.

9. Deferred tax asset



Accelerated
Capital
Allowances



Unrelieved
Tax Losses


Total
Deferred
Tax
Bal at 1 July 2022(584)6,7966,212
(Accelerated capital allowances) / Unrelieved Tax
Losses

146


1,049


1,195
Balance at 30 June 2023(438)7,8457,407

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

11. Ultimate controlling party

The controlling party is Mr J L Parsons.