Company registration number 05030344 (England and Wales)
GIRARDOT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
GIRARDOT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
GIRARDOT LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
803
1,071
Investment properties
5
1,596,750
1,596,750
Investments
6
92,101
78,900
1,689,654
1,676,721
Current assets
Debtors
7
20,541
14,173
Cash at bank and in hand
711,945
795,676
732,486
809,849
Creditors: amounts falling due within one year
8
(21,457)
(40,205)
Net current assets
711,029
769,644
Total assets less current liabilities
2,400,683
2,446,365
Provisions for liabilities
(55,311)
(44,356)
Net assets
2,345,372
2,402,009
Capital and reserves
Called up share capital
1
1
Revaluation reserve
9
165,333
220,444
Profit and loss reserves
2,180,038
2,181,564
Total equity
2,345,372
2,402,009

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 23 October 2024
E P C Girardot
Director
Company Registration No. 05030344
GIRARDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Girardot Limited is a private company limited by shares incorporated in England and Wales. The registered office is 33 Kersley Street, London, SW11 4PR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

GIRARDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

GIRARDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.10

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

1.11

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
GIRARDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 February 2023 and 31 January 2024
55,690
Depreciation and impairment
At 1 February 2023
54,619
Depreciation charged in the year
268
At 31 January 2024
54,887
Carrying amount
At 31 January 2024
803
At 31 January 2023
1,071
5
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
1,596,750

No depreciation is provided in respect of this property.

 

The director considers that the carrying amount of the Investment Property approximates to its fair value.

 

On a historical cost basis, the property would have been included at an original cost of £1,376,306 (2023 : £1,376,306)

6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
92,101
78,900
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 February 2023
78,900
Valuation changes
13,201
At 31 January 2024
92,101
Carrying amount
At 31 January 2024
92,101
At 31 January 2023
78,900
GIRARDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,600
3,000
Other debtors
13,941
11,173
20,541
14,173
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
540
1,808
Taxation and social security
17,281
35,181
Other creditors
3,636
3,216
21,457
40,205
9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
220,444
220,444
Deferred tax on revaluation of tangible assets
(55,111)
-
At the end of the year
165,333
220,444
2024-01-312023-02-01false23 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityE P C Girardotfalsefalse050303442023-02-012024-01-31050303442024-01-31050303442023-01-3105030344core:FurnitureFittings2024-01-3105030344core:FurnitureFittings2023-01-3105030344core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3105030344core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3105030344core:CurrentFinancialInstruments2024-01-3105030344core:CurrentFinancialInstruments2023-01-3105030344core:ShareCapital2024-01-3105030344core:ShareCapital2023-01-3105030344core:RevaluationReserve2024-01-3105030344core:RevaluationReserve2023-01-3105030344core:RetainedEarningsAccumulatedLosses2024-01-3105030344core:RetainedEarningsAccumulatedLosses2023-01-3105030344core:RevaluationReserve2023-01-3105030344core:RevaluationReserve2022-01-3105030344bus:Director12023-02-012024-01-3105030344core:FurnitureFittings2023-02-012024-01-31050303442022-02-012023-01-3105030344core:FurnitureFittings2023-01-31050303442023-01-3105030344core:WithinOneYear2024-01-3105030344core:WithinOneYear2023-01-3105030344bus:PrivateLimitedCompanyLtd2023-02-012024-01-3105030344bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3105030344bus:FRS1022023-02-012024-01-3105030344bus:AuditExemptWithAccountantsReport2023-02-012024-01-3105030344bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP