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Company Registration No. 04825821 (England and Wales)
Gillnell Limited Unaudited accounts for the year ended 31 December 2023
Gillnell Limited Unaudited accounts Contents
Page
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Gillnell Limited Company Information for the year ended 31 December 2023
Directors
David John Furey Blake Laurence Weltman Petronella Johanna Catharina Adriana Weltman
Secretary
Blake Laurence Weltman
Company Number
04825821 (England and Wales)
Registered Office
25 DOLLIS PARK FINCHLEY LONDON N3 1HJ
Accountants
Blake Weltman & Co Sovereign House 1 Albert Place Finchley London N3 1QB
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Gillnell Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
289,552 
641,552 
Current assets
Debtors
9,333 
9,189 
Cash at bank and in hand
27,630 
10,005 
36,963 
19,194 
Creditors: amounts falling due within one year
(32,526)
(134,324)
Net current assets/(liabilities)
4,437 
(115,130)
Total assets less current liabilities
293,989 
526,422 
Creditors: amounts falling due after more than one year
(38,561)
(234,430)
Provisions for liabilities
Deferred tax
(33,805)
(33,805)
Net assets
221,623 
258,187 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
221,523 
258,087 
Shareholders' funds
221,623 
258,187 
For the year ending 31 December 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 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 16 September 2024 and were signed on its behalf by
Blake Laurence Weltman Director Company Registration No. 04825821
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Gillnell Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Gillnell Limited is a private company, limited by shares, registered in England and Wales, registration number 04825821. The registered office is 25 DOLLIS PARK, FINCHLEY, LONDON, N3 1HJ.
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.
Turnover
Turnover represents gross rental income received during the year on investment properties.
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.
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.
4
Investment property
2023 
£ 
Fair value at 1 January 2023
641,552 
Disposals
(352,000)
At 31 December 2023
289,552 
The company's investment properties, on which no depreciation is provided have a historic cost of £368,585. The nine properties are included at a valuation of £641,552 taken at the discretion of the directors, based on fair value at the reporting date.
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
9,333 
9,189 
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Gillnell Limited Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
428 
450 
Taxes and social security
15,598 
- 
Other creditors
16,500 
133,874 
32,526 
134,324 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
38,561 
234,430 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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