Company Registration No. 11337440 (England and Wales)
G7 Homes Ltd
Unaudited accounts
for the year ended 31 March 2024
G7 Homes Ltd
Company Information
for the year ended 31 March 2024
Directors
Geraint T G Evans
Tara A Evans
Company Number
11337440 (England and Wales)
Registered Office
16 Vale Gardens
Pontypridd
CF37 2HG
Accountants
R H Jeffs & Rowe Ltd
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
G7 Homes Ltd
Statement of financial position
as at 31 March 2024
Investment property
315,000
278,017
Cash at bank and in hand
1,201
728
Creditors: amounts falling due within one year
(31,772)
(33,229)
Net current liabilities
(30,571)
(32,501)
Total assets less current liabilities
284,429
245,516
Creditors: amounts falling due after more than one year
(199,755)
(193,572)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
58,827
51,942
Shareholders' funds
58,829
51,944
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by
Geraint T G Evans
Director
Company Registration No. 11337440
G7 Homes Ltd
Notes to the Accounts
for the year ended 31 March 2024
G7 Homes Ltd is a private company, limited by shares, registered in England and Wales, registration number 11337440. The registered office is 16 Vale Gardens, Pontypridd, CF37 2HG.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 April 2023
278,017
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
529
3,170
Other creditors
1,700
1,000
Loans from directors
28,883
28,459
G7 Homes Ltd
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
199,755
193,572
Aggregate of amounts that fall due for payment after five years
191,226
180,892
The mortgage loan is secured on the company's freehold properties.
7
Deferred taxation
2024
2023
Revaluation of land and buildings
25,845
-
Charged to the profit and loss account
25,845
-
Provision at end of year
25,845
-
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).