Company registration number 12242279 (England and Wales)
GSGF DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
GSGF DEVELOPMENTS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
GSGF DEVELOPMENTS LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GSGF DEVELOPMENTS LTD FOR THE YEAR ENDED 31 MAY 2024
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GSGF Developments Ltd for the year ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of GSGF Developments Ltd, as a body, in accordance with the terms of our engagement letter dated. Our work has been undertaken solely to prepare for your approval the financial statements of GSGF Developments Ltd and state those matters that we have agreed to state to the board of directors of GSGF Developments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GSGF Developments Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that GSGF Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of GSGF Developments Ltd. You consider that GSGF Developments Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of GSGF Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
9 October 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
GSGF DEVELOPMENTS LTD
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
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2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
7
7
Current assets
Stocks
1,000
1,000
Cash at bank and in hand
482
2,457
1,482
3,457
Creditors: amounts falling due within one year
4
(8,100)
(8,100)
Net current liabilities
(6,618)
(4,643)
Net liabilities
(6,611)
(4,636)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(6,711)
(4,736)
Total equity
(6,611)
(4,636)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Miss E L Blurton
Director
Company registration number 12242279 (England and Wales)
GSGF DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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1
Accounting policies
Company information
GSGF Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Units 1-2, 37 Chartwell Road, Lancing Business Park, Lancing, West Sussex, BN15 8TU.
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. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.4
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.
2
Employees
The average monthly number of persons employed by the company during the year was 0 (2023 - 0).
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
7
7
GSGF DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
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4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
8,100
8,100