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REGISTERED NUMBER: 07411006 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Gordon Brown Estate Agents Limited

Gordon Brown Estate Agents Limited (Registered number: 07411006)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gordon Brown Estate Agents Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs S A Mains
Mr P Mckie





REGISTERED OFFICE: 8-10 the Square
Whickham
Newcastle upon Tyne
Tyne and Wear
NE16 4JE





REGISTERED NUMBER: 07411006 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Gordon Brown Estate Agents Limited (Registered number: 07411006)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,286 3,174
Investments 7 100 100
5,386 3,274

CURRENT ASSETS
Debtors 8 41,884 140,659
Cash at bank and in hand 78,412 44,384
120,296 185,043
CREDITORS
Amounts falling due within one year 9 (77,853 ) (72,688 )
NET CURRENT ASSETS 42,443 112,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,829

115,629

CREDITORS
Amounts falling due after more than one
year

10

(18,167

)

(30,167

)

PROVISIONS FOR LIABILITIES (1,157 ) (603 )
NET ASSETS 28,505 84,859

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 28,405 84,759
SHAREHOLDERS' FUNDS 28,505 84,859

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mrs S A Mains - Director


Gordon Brown Estate Agents Limited (Registered number: 07411006)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Gordon Brown Estate Agents 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Gordon Brown Estate Agents Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable in respect of the sale and letting of properties, stated net of discounts and of Value Added Tax,except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Rendering of services:
The company provides the services of an estate agent. When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs, and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

Goodwill
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

In the opinion of the directors this represents the period over which the goodwill is effective.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant and machinery etc- 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Gordon Brown Estate Agents Limited (Registered number: 07411006)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instrument 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, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Leasing
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 85,000
AMORTISATION
At 1 November 2022
and 31 October 2023 85,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Gordon Brown Estate Agents Limited (Registered number: 07411006)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 26,376
Additions 3,875
At 31 October 2023 30,251
DEPRECIATION
At 1 November 2022 23,202
Charge for year 1,763
At 31 October 2023 24,965
NET BOOK VALUE
At 31 October 2023 5,286
At 31 October 2022 3,174

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 100
NET BOOK VALUE
At 31 October 2023 100
At 31 October 2022 100

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 7,118 10,000
Other debtors 34,766 130,659
41,884 140,659

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,000 12,000
Trade creditors 2,566 258
Taxation and social security 54,940 52,982
Other creditors 8,347 7,448
77,853 72,688

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,167 30,167

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 5,729

Gordon Brown Estate Agents Limited (Registered number: 07411006)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mr C A Armstrong
Balance outstanding at start of year 2,881 4,623
Amounts advanced 21,036 32,952
Amounts repaid (23,300 ) (34,694 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 617 2,881

Mr L R Wright
Balance outstanding at start of year 10,933 10,326
Amounts advanced 18,094 31,161
Amounts repaid (15,600 ) (30,554 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,427 10,933

The above loans are subject to interest of 2.5% and are repayable on demand.