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Registration number: 07280482

G G Dewsbury Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

G G Dewsbury Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

G G Dewsbury Limited

(Registration number: 07280482)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,510,000

4,223,002

Current assets

 

Debtors

5

150,000

-

Cash at bank and in hand

 

354,573

309,677

 

504,573

309,677

Creditors: Amounts falling due within one year

6

(767,099)

(791,627)

Net current liabilities

 

(262,526)

(481,950)

Net assets

 

3,247,474

3,741,052

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,247,374

3,740,952

Shareholders' funds

 

3,247,474

3,741,052

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2024
 

G Gardner
Director

   
     
 

G G Dewsbury Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Upper Broadway House Church Lane
Kingston St Mary
Taunton
Somerset
TA2 8HF

These financial statements were authorised for issue by the director on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

G G Dewsbury Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

nil

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard 102 - Section 1A, as follows:

No depreciation is provided in respect of investment properties and they are held at fair value. The surplus or deficit on revaluation is transferred to the profit and loss account.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

G G Dewsbury Limited

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

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

 

G G Dewsbury Limited

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

4

Tangible assets

Investment property
£

Total
£

Cost or valuation

At 1 January 2023

4,223,002

4,223,002

Revaluations

(713,002)

(713,002)

At 31 December 2023

3,510,000

3,510,000

Carrying amount

At 31 December 2023

3,510,000

3,510,000

At 31 December 2022

4,223,002

4,223,002

5

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

7

150,000

-

 

150,000

-

6

Creditors

Due within one year

Note

2023
£

2022
£

 

Trade creditors

 

1,404

-

Amounts due to related parties

7

676,918

702,401

Social security and other taxes

 

83,418

84,808

Accruals

 

5,359

4,418

 

767,099

791,627

 

G G Dewsbury Limited

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

7

Related party transactions

Summary of transactions with other related parties

Companies in which G Gardner is a director and significant shareholder.
 The loans are interest free and repayable on demand.
 

Loans to related parties

2023

Other related parties
£

Total
£

Advanced

150,000

150,000

At end of period

150,000

150,000

Loans from related parties

2023

Key management
£

Total
£

At start of period

702,401

702,401

Repaid

(25,483)

(25,483)

At end of period

676,918

676,918

2022

Key management
£

Total
£

At start of period

702,401

702,401

At end of period

702,401

702,401

Terms of loans from related parties

During the year, the director maintained a loan with the company. The loan is interest free and repayable on demand.
 

8

Non adjusting events after the financial period

In June 2024 the company acquired all the issued share capital of GGFF Limited, a company under common control. Consideration was by way of a share for share swap with the shareholders of GGFF Limited. Following the acquistion, the trade, assets and liabilities of GGFF Limited were transferred to the company.