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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GREAT WEST SECURITIES LIMITED

GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREAT WEST SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J M Vokins
Mrs A Vokins





SECRETARY: Mrs A Vokins





REGISTERED OFFICE: Chancellors House
3 Brampton Lane
London
NW4 4AB





REGISTERED NUMBER: 03275255 (England and Wales)





ACCOUNTANTS: Somers Baker Prince Kurz LLP
Chartered Accountants
Chancellors House
3 Brampton Lane
Hendon
London
NW4 4AB

GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,378,132 3,129,311
Investments 5 - 272,081
3,378,132 3,401,392

CURRENT ASSETS
Debtors 6 28,575 34,045
Cash at bank 78,191 35,707
106,766 69,752
CREDITORS
Amounts falling due within one year 7 195,491 224,654
NET CURRENT LIABILITIES (88,725 ) (154,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,289,407

3,246,490

CREDITORS
Amounts falling due after more than one year 8 (634,695 ) (694,946 )

PROVISIONS FOR LIABILITIES (201,000 ) (201,000 )
NET ASSETS 2,453,712 2,350,544

CAPITAL AND RESERVES
Called up share capital 150 150
Revaluation reserve 10 1,216,581 1,216,581
Retained earnings 1,236,981 1,133,813
2,453,712 2,350,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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 17 September 2024 and were signed on its behalf by:





J M Vokins - Director


GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Great West Securities Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 2% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 2,055,000 1,015,000 85,738 3,155,738
Additions 250,000 - - 250,000
At 31 December 2023 2,305,000 1,015,000 85,738 3,405,738
DEPRECIATION
At 1 January 2023 - - 26,427 26,427
Charge for year - - 1,179 1,179
At 31 December 2023 - - 27,606 27,606
NET BOOK VALUE
At 31 December 2023 2,305,000 1,015,000 58,132 3,378,132
At 31 December 2022 2,055,000 1,015,000 59,311 3,129,311

Included in cost or valuation of land and buildings is freehold land of £ 1,200,000 (2022 - £ 1,200,000 ) which is not depreciated.

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
Valuation in 2023 2,305,000 1,015,000 85,738 3,405,738

If Freehold / leasehold property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,002,853 1,752,853

Value of land in freehold land and buildings 1,200,000 1,200,000

Freehold / leasehold property were valued on an open market basis on 31 December 2023 by the directors .

5. FIXED ASSET INVESTMENTS
Loans to
joint
ventures
£   
At 1 January 2023 272,081
Repayment in year (272,081 )
At 31 December 2023 -

GREAT WEST SECURITIES LIMITED (REGISTERED NUMBER: 03275255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,969 31,580
Prepayments and accrued income 2,606 2,465
28,575 34,045

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 74,298 87,437
Trade creditors 3,977 3,520
Corporation tax 30,381 48,677
Social security and other taxes 5,416 3,104
Other creditors 32,617 33,864
Directors' current accounts 23,085 23,085
Accruals and deferred income 25,717 24,967
195,491 224,654

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 74,865 89,187
Bank loans - 2-5 years 207,517 260,835
Bank loans more 5 yr by instal 352,313 344,924
634,695 694,946

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 352,313 344,924

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 708,993 782,383

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 1,216,581