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REGISTERED NUMBER: 03154873 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

G.D. Golding (Properties) Ltd.

G.D. Golding (Properties) Ltd. (Registered number: 03154873)






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


G.D. Golding (Properties) Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G D Golding
T M Golding





SECRETARY: Mrs T M Golding





REGISTERED OFFICE: 23 St Stephens Avenue
St Albans
Hertfordshire
AL3 4AA





REGISTERED NUMBER: 03154873 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

G.D. Golding (Properties) Ltd. (Registered number: 03154873)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,388,263 1,443,839

CURRENT ASSETS
Debtors 5 232,626 234,969
Cash at bank 16,345 70,106
248,971 305,075
CREDITORS
Amounts falling due within one year 6 16,854 22,647
NET CURRENT ASSETS 232,117 282,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,620,380

1,726,267

CREDITORS
Amounts falling due after more than
one year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES 8 (220,000 ) (235,000 )
NET ASSETS 1,384,547 1,465,434

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 904,285 944,285
Retained earnings 480,162 521,049
SHAREHOLDERS' FUNDS 1,384,547 1,465,434

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.

G.D. Golding (Properties) Ltd. (Registered number: 03154873)

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 16 September 2024 and were signed on its behalf by:





G D Golding - Director


G.D. Golding (Properties) Ltd. (Registered number: 03154873)

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

1. STATUTORY INFORMATION

G D Golding (Properties) Ltd is a private company limited by shares and incorporated in England & Wales. Its registered office is 23 St Stephens Avenue, St Albans, Herts AL3 4AA

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Revenue recognition
Revenue is measured at fair value of the consideration receivable.

Fixed assets & depreciation
All fixed assets are initially recorded at cost.

Depreciation of fixed assets is calculated to write off their cost or valuation, less any residual value over their estimated useful lives, as follows:

Fixtures & Fittings - 15% Reducing Balance.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Revaluation reserve
The aggregate annual surplus or deficit arising on the revaluation of investment properties is transferred to the revaluation reserve which is non-distributable.

G.D. Golding (Properties) Ltd. (Registered number: 03154873)

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

2. ACCOUNTING POLICIES - continued

Investment properties
In accordance with the Financial Reporting Standard no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the Directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation, which might otherwise have been charged, cannot be separately identified or quantified. The Directors consider that this policy results in the accounts giving a true and fair view.

Dividends
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,440,000 21,910 1,461,910
Revaluations (55,000 ) - (55,000 )
At 31 December 2023 1,385,000 21,910 1,406,910
DEPRECIATION
At 1 January 2023 - 18,071 18,071
Charge for year - 576 576
At 31 December 2023 - 18,647 18,647
NET BOOK VALUE
At 31 December 2023 1,385,000 3,263 1,388,263
At 31 December 2022 1,440,000 3,839 1,443,839

The Investment Properties which originally cost £260,715 (2022: £260,715) were revalued as at 31st December 2023 by the Directors at their open market value.

The value is based on regional Nationwide House Price Indices for the fourth quarter of 2023.

The net surplus arising on valuation has been transferred to the revaluation reserve.

G.D. Golding (Properties) Ltd. (Registered number: 03154873)

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

4. TANGIBLE FIXED ASSETS - continued


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Loan Account MGG (Invest.) Ltd 218,217 218,217
Loan Account G Golding Tailors Ltd 6,299 6,299
Prepayments and accrued income 8,110 10,453
232,626 234,969

All Amounts fall due within one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Tax 3,797 9,561
Accrued expenses 3,057 3,086
16,854 22,647

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-5 years 15,833 25,833

The bank loan is unsecured and repayable over six years from inception in July 2020.

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 220,000 235,000

Deferred
tax
£   
Balance at 1 January 2023 235,000
Released during year (15,000 )
Balance at 31 December 2023 220,000

G.D. Golding (Properties) Ltd. (Registered number: 03154873)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred tax is the Corporation Tax that would arise on the capital gain on the disposal of the investment properties if they were sold at the Directors valuation on the Balance Sheet date.

The rate used for deferred tax is 25% (2022: 25%).

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023 944,285
Surplus on revaluation (40,000 )

At 31 December 2023 904,285

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company shares certain directors with MGG (Investments) Limited and Geoffrey Golding Tailors Limited. At 31st December 2023 there were outstanding loans as follows:

20232022
££
Owed by Geoffrey Golding Tailors Ltd6,1996,199
Owed by MGG (Investments) Ltd218,217218,217

The company manages a property owned by Director, Mr G D Golding. In 2023 management fees received in respect of this building were £1,000 (2022 : £4,000).

Included in debtors is £4,691(2022 : £4,116) advanced to the Directors, Mr & Mrs G D Golding.