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COMPANY REGISTRATION NUMBER: 09396830
GARY GORDON PROJECTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 March 2023
GARY GORDON PROJECTS LIMITED
STATEMENT OF FINANCIAL POSITION
30 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,872
1,839
CURRENT ASSETS
Debtors
6
6,909
10,553
Cash at bank and in hand
522,263
546,480
---------
---------
529,172
557,033
CREDITORS: amounts falling due within one year
7
126,027
226,811
---------
---------
NET CURRENT ASSETS
403,145
330,222
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
405,017
332,061
---------
---------
NET ASSETS
405,017
332,061
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
404,917
331,961
---------
---------
SHAREHOLDERS FUNDS
405,017
332,061
---------
---------
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 30 March 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 .
GARY GORDON PROJECTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2023
These financial statements were approved by the board of directors and authorised for issue on 10 October 2024 , and are signed on behalf of the board by:
Mr G P Gordon
Director
Company registration number: 09396830
GARY GORDON PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 MARCH 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 17 Holland House, 42 Newington Green, London, N16 9PQ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 15% reducing balance
Office equipment - 25% reducing balance
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Office equipment
Total
£
£
£
Cost
At 31 March 2022
1,636
2,547
4,183
Additions
400
400
-------
-------
-------
At 30 March 2023
2,036
2,547
4,583
-------
-------
-------
Depreciation
At 31 March 2022
888
1,456
2,344
Charge for the year
172
195
367
-------
-------
-------
At 30 March 2023
1,060
1,651
2,711
-------
-------
-------
Carrying amount
At 30 March 2023
976
896
1,872
-------
-------
-------
At 30 March 2022
748
1,091
1,839
-------
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
6,909
10,553
-------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
39,169
108,671
Social security and other taxes
13,651
10,783
Other creditors
73,207
107,357
---------
---------
126,027
226,811
---------
---------
8. RELATED PARTY TRANSACTIONS
During the period the company undertook the following transactions with related parties: The director has advanced monies to the company. At 31 March 2023 the amount due from the company was £70,228 (2022 - £94,773).