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COMPANY REGISTRATION NUMBER: 12876174
GOLDENBERRY PROPERTY LTD
Filleted Unaudited Financial Statements
31 December 2023
GOLDENBERRY PROPERTY LTD
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
1,004,513
1,004,513
Current assets
Debtors
6
4,400
973
Cash at bank and in hand
125,139
69,421
---------
--------
129,539
70,394
Creditors: amounts falling due within one year
7
1,040,863
1,001,748
------------
------------
Net current liabilities
911,324
931,354
------------
------------
Total assets less current liabilities
93,189
73,159
Creditors: amounts falling due after more than one year
8
6,250
6,250
--------
--------
Net assets
86,939
66,909
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
86,938
66,908
--------
--------
Shareholders funds
86,939
66,909
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GOLDENBERRY PROPERTY LTD
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 July 2024 , and are signed on behalf of the board by:
Mr S Khan
Director
Company registration number: 12876174
GOLDENBERRY PROPERTY LTD
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, IG4 5ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
1,004,513
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
1,004,513
------------
At 31 December 2022
1,004,513
------------
The company's investment property was revalued on a fair value basis by the director on 31 December 2023.
6. Debtors
2023
2022
£
£
Other debtors
4,400
973
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
168
Due to associated companies
1,027,896
994,508
Other creditors
12,799
7,240
------------
------------
1,040,863
1,001,748
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
6,250
6,250
-------
-------
9. Related party transactions
The company was under the control of Mr S Khan throughout the current period. Mr Khan is the managing director and sole shareholder. Creditors falling due within one year include £1,027,896 (2022 - £994,508) due to associated companies where Mr S Khan is shareholder and director.