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REGISTERED NUMBER: 06723352 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GENERAL COMMERCIAL OBJECTS LIMITED

GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GENERAL COMMERCIAL OBJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr C T Kennedy
Mr S R Austin
Mr J Ng
Mr I Munro





REGISTERED OFFICE: Linley House
Dickinson Street
Manchester
M1 4LF





REGISTERED NUMBER: 06723352 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 775,196 1,068,035
Investments 5 31,040 31,040
806,236 1,099,075

CURRENT ASSETS
Debtors 6 113,711 25,128
Cash at bank 82,835 81,223
196,546 106,351
CREDITORS
Amounts falling due within one year 7 618,811 583,599
NET CURRENT LIABILITIES (422,265 ) (477,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,971

621,827

CREDITORS
Amounts falling due after more than one year 8 - (78,984 )

PROVISIONS FOR LIABILITIES (6,226 ) (5,343 )
NET ASSETS 377,745 537,500

CAPITAL AND RESERVES
Called up share capital 701 701
Retained earnings 377,044 536,799
SHAREHOLDERS' FUNDS 377,745 537,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)

BALANCE SHEET - continued
29 FEBRUARY 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 Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:




Mr C T Kennedy - Director Mr S R Austin - Director




Mr J Ng - Director Mr I Munro - Director


GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

General Commercial Objects Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06723352 and its registered office address is Windsor Works, Hall Street, Oldham, Lancashire, OL4 1TD.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. In respect of service contracts, turnover is recognised when the company obtains the right to the consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 20% on cost

The Directors have adopted a policy of non-depreciation on Freehold property. This is because of the immaterial effect depreciation will have on the financial statements due to their assessment that the assets will have a substantial useful economic life. An impairment review was carried out at the end of the reporting period by the entity and no impairment provision was required.

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.

Fixed asset investments
Fixed asset investments are stated at cost less any provisions for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 March 2023 1,083,025 57,342 12,315 1,152,682
Disposals (293,916 ) - - (293,916 )
At 29 February 2024 789,109 57,342 12,315 858,766
DEPRECIATION
At 1 March 2023 48,894 27,954 7,799 84,647
Charge for year - 2,867 2,464 5,331
Eliminated on disposal (6,408 ) - - (6,408 )
At 29 February 2024 42,486 30,821 10,263 83,570
NET BOOK VALUE
At 29 February 2024 746,623 26,521 2,052 775,196
At 28 February 2023 1,034,131 29,388 4,516 1,068,035

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 31,040
NET BOOK VALUE
At 29 February 2024 31,040
At 28 February 2023 31,040

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 3,886 351
Amounts owed by group undertakings 20,000 20,000
Other debtors 89,825 4,777
113,711 25,128

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 42,455
Trade creditors 1,440 259
Amounts owed to group undertakings 588,510 508,510
Taxation and social security 18,703 18,823
Other creditors 10,158 13,552
618,811 583,599

GENERAL COMMERCIAL OBJECTS LIMITED (REGISTERED NUMBER: 06723352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 78,984

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans - 121,439

Reporting entity bank borrowings are secured by way of a mortgage dated 15 November 2010 and a debenture dated 25 October 2010 over all property and assets of the company present and future.

Subsequent to the balance sheet date the reporting entity has settled all outstanding bank borrowings and satisfied all related mortgages and debentures.