REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Gorsedd Development Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Gorsedd Development Ltd |
Gorsedd Development Ltd (Registered number: 12912804) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Gorsedd Development Ltd (Registered number: 12912804) |
Statement of Financial Position |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Gorsedd Development Ltd (Registered number: 12912804) |
Statement of Financial Position - continued |
30 September 2023 |
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 |
Gorsedd Development Ltd (Registered number: 12912804) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Gorsedd Development Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stock representing properties intended for resale is valued at the lower of cost and estimated selling price less costs to complete and sell. Costs incurred in refurbishing properties to the resale standard are included in the cost of each property. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Gorsedd Development Ltd (Registered number: 12912804) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company has net liabilities of £153,232. The accounts have been prepared on going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Other creditors |
7. | SECURED DEBTS |
The loan amounting to £148,667 is secured by the way of charge on the property situated at South East of Pant Close (disclosed as inventories). The charge was created in the name of West Bridging Ltd on 16th December 2022. |
The loan amounting to £64,990 is secured by the way of charge on the property situated at South East of Pant Close (disclosed as inventories). The charge was created in the name of Financial Funding Limited on 19th July 2023. |
Gorsedd Development Ltd (Registered number: 12912804) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RELATED PARTY DISCLOSURES |
The company owes £199,730 (2022 : £624) to its director, Mr Job Wim Alexander Gutteling as at accounting year end date. |
The company owes £624 (2022: £624) to its director, Mrs Melanie Gutteling-Van Der Heijden as at accounting year end date. |
The company was owed £430,698 (2022 : £214,074) as at accounting year end date from Ciconia Trading Limited, a company registered in United Kingdom (Company registered number:11310705). Mr Job Wim Alexander Gutteling and Mrs Melanie Gutteling-Van Der Heijden are also directors and shareholders of this company holding 50% each in this company. |
The company was owed £242,161 (2022 : £100,431) as at accounting year end date from Ciconia Properties Limited, a company registered in United Kingdom (Company registered number: 11485019). Mr Job Wim Alexander Gutteling and Mrs Melanie Gutteling-Van Der Heijden are also directors and shareholders of this company holding 50% each in this company. |
The company was owed £30,000 (2022 : £30,000) as at accounting year end date from JRR Hotels Ltd, a company registered in United Kingdom (Company registered number: 13375899). Mr Job Wim Alexander Gutteling are also a director of this company. |