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REGISTERED NUMBER: 12945679 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GANDERBOND PROPERTIES LTD

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GANDERBOND PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Miss Dora Ktorides
Mr Andrew Ktorides
Mr Andreas Poyiatgi





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 12945679 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,245 2,187
Investment property 6 2,605,000 2,333,695
2,607,245 2,335,882

CURRENT ASSETS
Debtors 4,270 -
Cash at bank 14,236 117,751
18,506 117,751
CREDITORS
Amounts falling due within one year 114,145 126,466
NET CURRENT LIABILITIES (95,639 ) (8,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,511,606

2,327,167

CREDITORS
Amounts falling due after more than one year (1,273,655 ) (1,139,096 )

PROVISIONS FOR LIABILITIES 8 (10,508 ) -
NET ASSETS 1,227,443 1,188,071

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Share premium 10 1,149,405 1,149,405
Fair value reserve 10 31,520 -
Retained earnings 10 44,518 36,666
SHAREHOLDERS' FUNDS 1,227,443 1,188,071

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 September 2024 and were signed on its behalf by:




Miss Dora Ktorides - Director



Mr Andreas Poyiatgi - Director


GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ganderbond Properties Ltd 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. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. At the end of each period, the carrying value is adjusted to the fair value at that date. Fair value is determined by consideration of comparable market data such as rental yields, location, condition and nature of the property. The gains and losses are taken to profit and loss at the end of each period.

Deferred tax is recognised in respect to any gains, and the amount included in reserves is net of any deferred tax provision.

Financial instruments
The company only enters basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, and other third parties.

Basic financial instruments are recognized at amortized cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognized in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognized in profit or loss.

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 2,500
Additions 830
At 31 March 2024 3,330
DEPRECIATION
At 1 April 2023 313
Charge for year 772
At 31 March 2024 1,085
NET BOOK VALUE
At 31 March 2024 2,245
At 31 March 2023 2,187

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,333,695
Additions 229,277
Revaluations 42,028
At 31 March 2024 2,605,000
NET BOOK VALUE
At 31 March 2024 2,605,000
At 31 March 2023 2,333,695

The investment properties have been revalued by the directors based on the estimated market values using the sale prices of properties of a similar size and location. These are not formal valuations conducted by a professional valuer.

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,287,138 1,142,586

The bank loans are secured by first legal charges over the properties of the company and a guarantee from the directors in favour of Lloyds Bank Plc.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,508 -

Deferred
tax
£   
Provided during year 10,508
Balance at 31 March 2024 10,508

GANDERBOND PROPERTIES LTD (REGISTERED NUMBER: 12945679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

10. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 36,666 1,149,405 - 1,186,071
Profit for the year 39,372 39,372
Revaluation (42,028 ) - 42,028 -
Deferred tax 10,508 - (10,508 ) -
At 31 March 2024 44,518 1,149,405 31,520 1,225,443

11. RELATED PARTY DISCLOSURES

Ganderbond Estates Ltd issued 1,710 £1 ordinary shares to acquire all of the issued share capital of Ganderbond Properties Ltd. This transaction in the opinion of all the participants that it was carried out at market value.

HMRC clearance was obtained for this share for share transaction.

12. ULTIMATE CONTROLLING PARTY

The controlling parties are the directors who between them own 100% of the issued share capital.

In June 2023 the company became a wholly-owned subsidiary of Ganderbond Estates Ltd.