Company registration number 06788630 (England and Wales)
G & P VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
G & P VENTURES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
G & P VENTURES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
447,656
8,072
Current assets
Debtors
4
55,000
83,764
Cash at bank and in hand
100,618
573,933
155,618
657,697
Creditors: amounts falling due within one year
5
(2,474)
(1,368)
Net current assets
153,144
656,329
Total assets less current liabilities
600,800
664,401
Provisions for liabilities
(821)
Net assets
600,800
663,580
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
600,798
663,578
Total equity
600,800
663,580
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 September 2024 and are signed on its behalf by:
G D Shaw
Director
Company Registration No. 06788630
G & P VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
G & P Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is Longlands, Button Oak, Bewdley, Shropshire, DY12 3AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
G & P VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
33,300
33,300
Additions
414,738
41,095
455,833
Disposals
(29,550)
(29,550)
At 31 March 2024
414,738
44,845
459,583
Depreciation and impairment
At 1 April 2023
25,228
25,228
Depreciation charged in the year
10,990
10,990
Eliminated in respect of disposals
(24,291)
(24,291)
At 31 March 2024
11,927
11,927
Carrying amount
At 31 March 2024
414,738
32,918
447,656
At 31 March 2023
8,072
8,072
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
55,000
80,000
Other debtors
3,764
55,000
83,764
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,281
Other creditors
1,193
1,368
2,474
1,368