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REGISTERED NUMBER: 07933286 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

GURKHA HOMES LTD

GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GURKHA HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: M R Legh-Smith





REGISTERED OFFICE: Sunnyside Farm Reading Road
Padworth Common
Reading
RG7 4QN





REGISTERED NUMBER: 07933286 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,365 7,590
Investment property 5 3,855,000 3,855,000
3,860,365 3,862,590

CURRENT ASSETS
Debtors 6 29,420 28,174
Cash at bank and in hand 410,445 378,950
439,865 407,124
CREDITORS
Amounts falling due within one year 7 73,484 55,287
NET CURRENT ASSETS 366,381 351,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,226,746

4,214,427

CREDITORS
Amounts falling due after more than one
year

8

(3,104,703

)

(3,135,420

)

PROVISIONS FOR LIABILITIES (357,563 ) (358,120 )
NET ASSETS 764,480 720,887

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 9 274,464 274,464
Retained earnings 489,816 446,223
764,480 720,887

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

BALANCE SHEET - continued
31ST MARCH 2024


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 director and authorised for issue on 21st October 2024 and were signed by:





M R Legh-Smith - Director


GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Gurkha Homes Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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).

GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 50,425
DEPRECIATION
At 1st April 2023 42,835
Charge for year 2,225
At 31st March 2024 45,060
NET BOOK VALUE
At 31st March 2024 5,365
At 31st March 2023 7,590

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 3,855,000
NET BOOK VALUE
At 31st March 2024 3,855,000
At 31st March 2023 3,855,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 630,687
Cost 3,224,313
3,855,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,328 18,638
Other debtors 8,092 9,536
29,420 28,174

GURKHA HOMES LTD (REGISTERED NUMBER: 07933286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,943 4,024
Taxation and social security 4,144 7,738
Other creditors 60,397 43,525
73,484 55,287

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,496,703 2,495,420
Other creditors 608,000 640,000
3,104,703 3,135,420

Gurkha Homes Ltd was awarded grant funding of £960,000 from the Ministry of Defence Veterans Accommodation Fund. This is subject to terms and conditions to be fulfilled over the 15 years from 31.03.2015 and becomes unrestricted only at 31.03.2030. The grant is related to assets and is recognised in income on a systematic basis over the expected useful life of the asset.

9. RESERVES
Fair
value
reserve
£   
At 1st April 2023
and 31st March 2024 274,464

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
M R Legh-Smith
Balance outstanding at start of year - 1,100
Amounts repaid - (1,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -