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Registered number: 05317636










GIDNEY INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GIDNEY INVESTMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
GIDNEY INVESTMENTS LIMITED
REGISTERED NUMBER: 05317636

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,262
1,723

Investment property
  
1,387,887
1,394,487

  
1,390,149
1,396,210

Current assets
  

Debtors
 5 
29,992
15,152

Cash at bank and in hand
  
64,901
66,636

  
94,893
81,788

Creditors: amounts falling due within one year
 6 
(113,193)
(144,999)

Net current liabilities
  
 
 
(18,300)
 
 
(63,211)

Creditors: amounts falling due after more than one year
 7 
(11,500)
(17,500)

  

Net assets
  
1,360,349
1,315,499


Capital and reserves
  

Called up share capital 
  
30
30

Profit and loss account
  
1,360,319
1,315,469

  
1,360,349
1,315,499


Page 1

 
GIDNEY INVESTMENTS LIMITED
REGISTERED NUMBER: 05317636
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2024.


P.J. Gidney
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GIDNEY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Gidney Investments Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD. The address of the principal place of business is 17 Willday Drive, Atherstone, CV9 3SH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue generated by the company is in respect of rent receivable from tenants during the year. 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

S/Term Investment Property
-
4%
over the period of the licence
Fixtures & fittings
-
25%
stright line
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Page 3

 
GIDNEY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial intrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
GIDNEY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost


At 1 January 2023
1,048
2,733
3,781


Additions
-
1,910
1,910


Disposals
-
(1,028)
(1,028)



At 31 December 2023

1,048
3,615
4,663



Depreciation


At 1 January 2023
262
1,796
2,058


Charge for the year
262
645
907


Disposals
-
(564)
(564)



At 31 December 2023

524
1,877
2,401



Net book value



At 31 December 2023
524
1,738
2,262



At 31 December 2022
786
937
1,723

Page 5

 
GIDNEY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Investment properties

£



Valuation


At 1 January 2023
1,394,487


Amortisation
(6,600)



At 31 December 2023
1,387,887

The 2023 valuations were made by the directors, on an open market value for existing use basis.

Included in Investment properties is a property with a short term licence. The cost of the property is being amortised over its useful life.







5.


Debtors

2023
2022
£
£


Trade debtors
11,103
5,900

Other debtors
10,937
1,451

Prepayments and accrued income
7,952
7,801

29,992
15,152



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
6,000
6,000

Corporation tax
24,504
19,840

Other taxation and social security
1,941
1,810

Other creditors
43,605
83,257

Accruals and deferred income
37,143
34,092

113,193
144,999


The bank loan is secured by government guarantee.

Page 6

 
GIDNEY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
11,500
17,500


The bank loan is secured by government guarantee.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,000
6,000

Amounts falling due 1-2 years

Bank loans
6,000
6,000

Amounts falling due 2-5 years

Bank loans
5,500
11,500


17,500
23,500



9.


Transactions with directors

Included within creditors at the year end is a balance of £43,605 (2022: £83,257) owed to the directors. In the year, the directors received further advances of £77,987 and repaid £38,335  to the company.
The loan is unsecured, interest free and with no fixed terms of repayment.

 
Page 7