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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GOF PROPERTY LIMITED

GOF PROPERTY LIMITED (REGISTERED NUMBER: 12339893)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GOF PROPERTY LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr L R Bolson
Mrs A Bolson





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 12339893 (England and Wales)






GOF PROPERTY LIMITED (REGISTERED NUMBER: 12339893)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 265,000

CURRENT ASSETS
Debtors 5 1,846 100
Cash at bank 4,133 -
5,979 100
CREDITORS
Amounts falling due within one year 6 225,471 229,435
NET CURRENT LIABILITIES (219,492 ) (229,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,508

35,665

PROVISIONS FOR LIABILITIES 12,500 2,850
NET ASSETS 68,008 32,815

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 37,500 12,150
Retained earnings 30,408 20,565
SHAREHOLDERS' FUNDS 68,008 32,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 18 July 2024 and were signed on its behalf by:





Mr L R Bolson - Director


GOF PROPERTY LIMITED (REGISTERED NUMBER: 12339893)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

GOF Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents property rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 265,000
Revaluations 35,000
At 31 March 2024 300,000
NET BOOK VALUE
At 31 March 2024 300,000
At 31 March 2023 265,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 300,000

The investment property is valued by the director on an open market current use basis annually. The historic cost of the property shown at a valuation of £300,000 is £250,000.

The valuation by the director has been undertaken through property market research to include evidence on comparable sales and rental investment yields.

GOF PROPERTY LIMITED (REGISTERED NUMBER: 12339893)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,846 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 221,476 225,400
Taxation and social security 2,309 2,415
Other creditors 1,686 1,620
225,471 229,435

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 12,150
Revaluation 25,350

At 31 March 2024 37,500