Registered number
10877714
Great Gable (London) Limited
Report and Accounts
30 March 2024
Great Gable (London) Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Notes to the accounts 6-8
Great Gable (London) Limited
Company Information
Director
Marie Dunne
Mark Vernon Waterman
Accountants
Dunne & Waterman
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
Registered office
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
Registered number
10877714
Great Gable (London) Limited
Registered number: 10877714
Director's Report
The director presents his report and accounts for the year ended 30 March 2024.
Principal activities
The company's principal activity during the year was leasing real property.
Directors
The following persons served as directors during the year:
Marie Dunne
Mark Vernon Waterman
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 6 September 2024 and signed on its behalf.
Marie Dunne
Director
Great Gable (London) Limited
Accountants' Report
Accountants' report to the director of
Great Gable (London) Limited
You consider that the company is exempt from an audit for the year ended 30 March 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Dunne & Waterman
Chartered Accountants
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
6 September 2024
Great Gable (London) Limited
Profit and Loss Account
for the year ended 30 March 2024
2024 2023
£ £
Turnover - 24,711
Administrative expenses (8,516) (10,100)
Other operating income 15,400 15,800
Operating profit 6,884 30,411
Profit on the disposal of investments - 23,145
Loss on revaluation of investments (6,482) -
Income from investments 6,701 9,543
Interest receivable 1,601 -
Interest payable (7,002) (6,672)
Profit before taxation 1,702 56,427
Tax on profit (570) (7,180)
Profit for the financial year 1,132 49,247
Great Gable (London) Limited
Registered number: 10877714
Balance Sheet
as at 30 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 225,499 -
Current assets
Stocks 316,062 316,062
Debtors 4 30,535 258,430
Cash at bank and in hand 2,555 4,984
349,152 579,476
Creditors: amounts falling due within one year 5 (309,804) (315,761)
Net current assets 39,348 263,715
Total assets less current liabilities 264,847 263,715
Creditors: amounts falling due after more than one year 6 (204,655) (204,655)
Net assets 60,192 59,060
Capital and reserves
Called up share capital 300 300
Profit and loss account 59,892 58,760
Shareholders' funds 60,192 59,060
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Marie Dunne
Director
Approved by the board on 6 September 2024
Great Gable (London) Limited
Notes to the Accounts
for the year ended 30 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 2 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
Additions 231,981
Disposals/Revaluation (6,482)
At 30 March 2024 225,499
4 Debtors 2024 2023
£ £
Other debtors 30,535 258,430
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 6,610
Other creditors 309,804 309,151
309,804 315,761
Included in creditors is an amount of £309,150 (2023- £309,350) owed to M Waterman. The loan is interest free and repayable on demand.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 204,655 204,655
7 Other information
Great Gable (London) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hamilton House
1 Temple Avenue
London
EC4Y 0HA
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