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REGISTERED NUMBER: SC302490 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

G & E Developments (Aberdeen) Ltd

G & E Developments (Aberdeen) Ltd (Registered number: SC302490)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G & E Developments (Aberdeen) Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G F Bowie
Mrs E Bowie





SECRETARY: Mrs E Bowie





REGISTERED OFFICE: Millstones
Meikle Wartle
Inverurie
AB51 5AA





REGISTERED NUMBER: SC302490 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,297 16,469
Investment property 6 165,000 180,000
178,297 196,469

CURRENT ASSETS
Debtors 7 1,292 2,474
Cash at bank 5,132 2,017
6,424 4,491
CREDITORS
Amounts falling due within one year 8 111,544 110,760
NET CURRENT LIABILITIES (105,120 ) (106,269 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,177

90,200

PROVISIONS FOR LIABILITIES - 21
NET ASSETS 73,177 90,179

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 - 4,272
Retained earnings 73,175 85,905
SHAREHOLDERS' FUNDS 73,177 90,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Balance Sheet - continued
31 May 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





G F Bowie - Director


G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

G & E Developments (Aberdeen) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 120 1,024 16,799 2,017 19,960
Additions - - - 999 999
At 31 May 2024 120 1,024 16,799 3,016 20,959
DEPRECIATION
At 1 June 2023 100 1,024 350 2,017 3,491
Charge for year 4 - 4,112 55 4,171
At 31 May 2024 104 1,024 4,462 2,072 7,662
NET BOOK VALUE
At 31 May 2024 16 - 12,337 944 13,297
At 31 May 2023 20 - 16,449 - 16,469

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 180,000
Revaluations (15,000 )
At 31 May 2024 165,000
NET BOOK VALUE
At 31 May 2024 165,000
At 31 May 2023 180,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2017 54,293
Valuation in 2018 (30,000 )
Valuation in 2022 (20,000 )
Valuation in 2024 (15,000 )
Cost 175,707
165,000

The investment properties were valued at fair value on 31 May 2024 by the company directors. Gains are recognised in the statement of income and retained earnings. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,292 2,474

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security - 950
Other creditors 111,544 109,810
111,544 110,760

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

G & E Developments (Aberdeen) Ltd (Registered number: SC302490)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 4,272
Transfer between reserves (4,272 )

At 31 May 2024 -