Company No:
Contents
Note | 2024 | 2023 | ||
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Current assets | ||||
Stocks | 3 |
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Debtors | 4 |
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Cash at bank and in hand |
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21,338 | 22,676 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (3,655) | (2,262) | ||
Total assets less current liabilities | (3,655) | (2,262) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of GD & WB Properties Limited (registered number:
W Bowen
Director |
G A Doble
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
GD & WB Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Ham Lane, Compton Dundon, Nr Somerton, Somerset, TA11 6PQ.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company has net liabilities at the balance sheet date. The company is reliant upon the support of a director who has agreed that their loan to the company will not be repaid unless the company has sufficient funds to meet all other liabilities.
Taking into account the above, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Work in progress |
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VAT recoverable |
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Amounts owed to directors |
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Accruals |
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