REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 6 April 2024 |
for |
Gary Underwood Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 6 April 2024 |
for |
Gary Underwood Limited |
Gary Underwood Limited (Registered number: 08964647) |
Contents of the Financial Statements |
for the Year Ended 6 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Gary Underwood Limited |
Company Information |
for the Year Ended 6 April 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Pinnacle House |
1 Pinnacle Way |
Derby |
Derbyshire |
DE24 8ZS |
Gary Underwood Limited (Registered number: 08964647) |
Balance Sheet |
6 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Non distributable reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Gary Underwood Limited (Registered number: 08964647) |
Balance Sheet - continued |
6 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Gary Underwood Limited (Registered number: 08964647) |
Notes to the Financial Statements |
for the Year Ended 6 April 2024 |
1. | STATUTORY INFORMATION |
Gary Underwood Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Gary Underwood 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. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
A transfer is made from retained earnings to the non-distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided. |
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 |
Gary Underwood Limited (Registered number: 08964647) |
Notes to the Financial Statements - continued |
for the Year Ended 6 April 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 7 April 2023 | 50,100 |
Revaluations | ( |
) | (20,000 | ) |
At 6 April 2024 | 30,100 |
NET BOOK VALUE |
At 6 April 2024 | 30,100 |
At 6 April 2023 | 50,100 |
Cost or valuation at 6 April 2024 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2024 | - | 30,000 | 30,000 |
Cost | 100 | - | 100 |
100 | 30,000 | 30,100 |
Investments relate to investments in unlisted entities which are stated at fair value at the balance sheet date. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 7 April 2023 |
Revaluations | ( |
) |
At 6 April 2024 |
NET BOOK VALUE |
At 6 April 2024 |
At 6 April 2023 |
Gary Underwood Limited (Registered number: 08964647) |
Notes to the Financial Statements - continued |
for the Year Ended 6 April 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 6 April 2024 is represented by: |
£ |
Valuation in 2023 | 408,500 |
Valuation in 2024 | (21,000 | ) |
387,500 |
If the properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 251,697 | 251,697 |
The properties were valued on an open market basis on 6 April 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 200 | 200 |
9. | RELATED PARTY DISCLOSURES |
The balance outstanding on interest free loans provided to group companies amounted to £249,323 (2023 £188,707). |