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REGISTERED NUMBER: 12912804 (England and Wales)















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 2,720,171 1,474,780
Debtors 4 732,692 355,083
Cash at bank and in hand 35,317 162,081
3,488,180 1,991,944
CREDITORS
Amounts falling due within one year 5 653,491 230,147
NET CURRENT ASSETS 2,834,689 1,761,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,834,689

1,761,797

CREDITORS
Amounts falling due after more than
one year

6

2,987,921

1,858,000
NET LIABILITIES (153,232 ) (96,203 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (153,332 ) (96,303 )
SHAREHOLDERS' FUNDS (153,232 ) (96,203 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Gorsedd Development Ltd (Registered number: 12912804)

Statement of Financial Position - continued
30 September 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 17 September 2024 and were signed on its behalf by:





Mr Job Wim Alexander Gutteling - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12912804

Registered office: 01 Meadlake Place
Thorpe Lea Road
Egham
Surrey
TW20 8HE

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.

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 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 732,692 355,083

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 213,657 -
Other creditors 439,834 230,147
653,491 230,147

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Other creditors 2,987,921 1,858,000

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: £    £   
100 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.