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Registration number: 02035313

GVZ Glasshouses (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

GVZ Glasshouses (Holdings) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

GVZ Glasshouses (Holdings) Limited

Company Information

Directors

Mr A Van Zanten

Mr JJJ Van Zanten

Company secretary

Mr C Van Zanten

Registered office

Unit 7
20, Harwich Road,
Ardleigh
Colchester
CO7 7LT

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

GVZ Glasshouses (Holdings) Limited

(Registration number: 02035313)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

28,396

Investment property

5

-

1,200,000

 

-

1,228,396

Current assets

 

Debtors

6

139,342

96

Cash at bank and in hand

 

25,783

27,984

 

165,125

28,080

Creditors: Amounts falling due within one year

7

(900)

(89,649)

Net current assets/(liabilities)

 

164,225

(61,569)

Total assets less current liabilities

 

164,225

1,166,827

Provisions for liabilities

-

(63,607)

Net assets

 

164,225

1,103,220

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

-

628,014

Retained earnings

164,125

475,106

Shareholders' funds

 

164,225

1,103,220

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

GVZ Glasshouses (Holdings) Limited

(Registration number: 02035313)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

.........................................
Mr A Van Zanten
Director

.........................................
Mr JJJ Van Zanten
Director

 

GVZ Glasshouses (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7
20, Harwich Road,
Ardleigh
Colchester
CO7 7LT

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents and consulting fees receivable by company excluding value added tax.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

GVZ Glasshouses (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for rental income or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

 

GVZ Glasshouses (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

149,157

149,157

Disposals

(149,157)

(149,157)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

120,761

120,761

Eliminated on disposal

(120,761)

(120,761)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

28,396

28,396

5

Investment properties

2024
£

At 1 April

1,200,000

Disposals

(1,200,000)

At 31 March

-

Investment property was valued on an open market basis on 31 March 2023 by the company directors.

 

GVZ Glasshouses (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

139,246

-

Income tax asset

96

96

 

139,342

96

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

-

89,149

Accruals and deferred income

 

900

500

 

900

89,649

8

Related party transactions

The company has taken advantage of the exemption under paragraph FRS 102 1AC.35 from disclosing transactions entered into between two or more members of a group where any subsidiary undertaking which is a party to the tranaction is wholly owned by a member of that group.
Balances owed to and from group companies are disclosed in the debtor and creditor notes.

9

Parent and ultimate parent undertaking

The company's immediate parent is GVZ Glasshouses Limited, incorporated in England & Wales.

 The ultimate parent is GVZ Investments Limited, incorporated in England & Wales.