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Company Registration No. 05823594 (England and Wales)
G & S Projects Ltd Unaudited accounts for the year ended 30 November 2023
G & S Projects Ltd Unaudited accounts Contents
Page
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G & S Projects Ltd Company Information for the year ended 30 November 2023
Director
Gethin Edwards
Company Number
05823594 (England and Wales)
Registered Office
EMBASSY OFFICES STANGATE HOUSE STANWELL ROAD PENARTH VALE OF GLAMORGAN CF64 2AA WALES
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G & S Projects Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
5,635,000 
3,159,010 
Current assets
Debtors
136,017 
60,478 
Cash at bank and in hand
2,800 
2,257 
138,817 
62,735 
Creditors: amounts falling due within one year
(907,688)
(740,506)
Net current liabilities
(768,871)
(677,771)
Total assets less current liabilities
4,866,129 
2,481,239 
Creditors: amounts falling due after more than one year
(2,637,993)
(2,009,271)
Provisions for liabilities
Deferred tax
(69,079)
(69,410)
Net assets
2,159,057 
402,558 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
2,216,221 
474,673 
Profit and loss account
(57,166)
(72,117)
Shareholders' funds
2,159,057 
402,558 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 August 2024 and were signed on its behalf by
Gethin Edwards Director Company Registration No. 05823594
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G & S Projects Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
G & S Projects Ltd is a private company, limited by shares, registered in England and Wales, registration number 05823594. The registered office is EMBASSY OFFICES STANGATE HOUSE, STANWELL ROAD, PENARTH, VALE OF GLAMORGAN, CF64 2AA, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover relates to rental income and is recognised in the period to which it relates.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Charges
Bath and West Finance Limited holds a fixed and floating charge and a negative pledge dated 3 November 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Bath and West Finance Limited now and in the future. (charge code 058235940032) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940031) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940030) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940029)
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G & S Projects Ltd Notes to the Accounts for the year ended 30 November 2023
Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940028) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940027) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940026) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940025) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940024) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 21 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940023) One Stop Business Finance SPV Limited holds a fixed and floating charge and a negative pledge dated 15 February 2023 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to One Stop Business Finance SPV Limited now and in the future. (charge code 058235940022) Bath and West Finance Limited holds a fixed and floating charge and a negative pledge dated 1 September 2022 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Bath and West Finance Limited now and in the future. (charge code 058235940021) One Stop Business Finance SPV Limited holds a fixed and floating charge and a negative pledge dated 11 August 2022 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to One Stop Business Finance SPV Limited now and in the future. (charge code 058235940020) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 30 July 2021 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940019) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 18 October 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940018) Handelsbanken PLC holds a fixed and floating charge and a negative pledge dated 18 October 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Handelsbanken PLC now and in the future. (charge code 058235940017) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 3 April 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940015) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 2 April 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940014)
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G & S Projects Ltd Notes to the Accounts for the year ended 30 November 2023
Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940013) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940012) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940011) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940010) Paragon Bank PLC holds a fixed and floating charge and a negative pledge dated 19 March 2019 over G & S Projects Ltd on all monies, obligations and liabilities which may be due to Paragon Bank PLC now and in the future. (charge code 058235940009)
4
Investment property
2023 
£ 
Fair value at 1 December 2022
3,159,010 
Additions
994,442 
Disposals
(260,000)
Net gain from fair value adjustments
1,741,548 
At 30 November 2023
5,635,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
136,017 
57,295 
Accrued income and prepayments
- 
3,183 
136,017 
60,478 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
32,914 
11,207 
Trade creditors
13,597 
13,680 
Amounts owed to group undertakings and other participating interests
469,608 
520,091 
Taxes and social security
28,749 
26,915 
Other creditors
4,575 
4,575 
Loans from directors
358,245 
2,655 
Accruals
- 
136,108 
Deferred income
- 
25,275 
907,688 
740,506 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,637,993 
2,009,271 
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G & S Projects Ltd Notes to the Accounts for the year ended 30 November 2023
8
Transactions with related parties
During the year, the company undertook transactions with companies under common control. All transactions are deemed to have taken place at arms length.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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