IRIS Accounts Production v24.2.0.383 08964647 director 7.4.23 6.4.24 6.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089646472023-04-06089646472024-04-06089646472023-04-072024-04-06089646472022-04-06089646472022-04-072023-04-06089646472023-04-0608964647ns15:EnglandWales2023-04-072024-04-0608964647ns14:PoundSterling2023-04-072024-04-0608964647ns10:Director12023-04-072024-04-0608964647ns10:PrivateLimitedCompanyLtd2023-04-072024-04-0608964647ns10:SmallEntities2023-04-072024-04-0608964647ns10:AuditExempt-NoAccountantsReport2023-04-072024-04-0608964647ns10:SmallCompaniesRegimeForDirectorsReport2023-04-072024-04-0608964647ns10:SmallCompaniesRegimeForAccounts2023-04-072024-04-0608964647ns10:FullAccounts2023-04-072024-04-0608964647ns10:OrdinaryShareClass12023-04-072024-04-0608964647ns10:CompanySecretary12023-04-072024-04-0608964647ns10:RegisteredOffice2023-04-072024-04-0608964647ns5:CurrentFinancialInstruments2024-04-0608964647ns5:CurrentFinancialInstruments2023-04-0608964647ns5:ShareCapital2024-04-0608964647ns5:ShareCapital2023-04-0608964647ns5:FurtherSpecificReserve3ComponentTotalEquity2024-04-0608964647ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-0608964647ns5:RetainedEarningsAccumulatedLosses2024-04-0608964647ns5:RetainedEarningsAccumulatedLosses2023-04-0608964647ns5:CostValuation2023-04-0608964647ns5:RevaluationsIncreaseDecreaseInInvestments2024-04-0608964647ns5:CostValuation2024-04-0608964647ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-0608964647ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-0608964647ns10:OrdinaryShareClass12024-04-06
REGISTERED NUMBER: 08964647 (England and Wales)















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: Mr G Underwood





SECRETARY: Mrs J Underwood





REGISTERED OFFICE: Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS





REGISTERED NUMBER: 08964647 (England and Wales)





ACCOUNTANTS: Underwood Green
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 30,100 50,100
Investment property 5 387,500 408,500
417,600 458,600

CURRENT ASSETS
Debtors 6 249,373 188,707
Cash at bank 75,635 44,814
325,008 233,521
CREDITORS
Amounts falling due within one year 7 37,282 280,264
NET CURRENT ASSETS/(LIABILITIES) 287,726 (46,743 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

705,326

411,857

PROVISIONS FOR LIABILITIES 40,951 29,793
NET ASSETS 664,375 382,064

CAPITAL AND RESERVES
Called up share capital 8 200 200
Non distributable reserve 101,852 127,010
Retained earnings 562,323 254,854
SHAREHOLDERS' FUNDS 664,375 382,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 6 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 6 April 2024 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 20 September 2024 and were signed by:





Mr G Underwood - Director


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 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.

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 2 (2023 - 2 ) .

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 100 50,000 50,100
Revaluations - (20,000 ) (20,000 )
At 6 April 2024 100 30,000 30,100
NET BOOK VALUE
At 6 April 2024 100 30,000 30,100
At 6 April 2023 100 50,000 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 408,500
Revaluations (21,000 )
At 6 April 2024 387,500
NET BOOK VALUE
At 6 April 2024 387,500
At 6 April 2023 408,500

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 249,323 188,707
Other debtors 50 -
249,373 188,707

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,724 1,347
Other creditors 34,558 278,917
37,282 280,264

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 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).