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REGISTERED NUMBER: 11173293 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2024

for

Godfrey 1 Ltd

Godfrey 1 Ltd (Registered number: 11173293)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Godfrey 1 Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: W W Daniel
Mrs S D Daniel





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 11173293 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Godfrey 1 Ltd (Registered number: 11173293)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,000,000 3,763,000

CURRENT ASSETS
Debtors 5 84,000 160
Cash at bank 1,421 612
85,421 772
CREDITORS
Amounts falling due within one year 6 1,148,054 1,052,272
NET CURRENT LIABILITIES (1,062,633 ) (1,051,500 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,937,367 2,711,500

CREDITORS
Amounts falling due after more than one year 7 (2,619,500 ) (2,619,500 )

PROVISIONS FOR LIABILITIES (125,000 ) (65,750 )
NET ASSETS 192,867 26,250

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 375,000 197,250
Retained earnings 10 (182,233 ) (171,100 )
SHAREHOLDERS' FUNDS 192,867 26,250

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

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

The directors acknowledge their 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.

Godfrey 1 Ltd (Registered number: 11173293)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





W W Daniel - Director


Godfrey 1 Ltd (Registered number: 11173293)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Godfrey 1 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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. Trading losses were incurred this year, but the company is expected to make profits in the forthcoming years. The directors have also confirmed that they will continue to support the company. On this basis the policy is considered to be reasonable.

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

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).

Godfrey 1 Ltd (Registered number: 11173293)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 3,763,000
Revaluations 237,000
At 31 January 2024 4,000,000
NET BOOK VALUE
At 31 January 2024 4,000,000
At 31 January 2023 3,763,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 263,000
Valuation in 2024 237,000
Cost 3,500,000
4,000,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 3,500,000 3,500,000

The investment property was valued on an open market basis on 31 January 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
VAT - 160
Prepayments and accrued income 84,000 -
84,000 160

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 288 -
Other creditors 1,143,335 1,047,882
Accrued expenses 4,431 4,390
1,148,054 1,052,272

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 2,619,500 2,619,500

Godfrey 1 Ltd (Registered number: 11173293)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 2,619,500 2,619,500

The bank loan is secured on the property owned by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 (171,100 ) 197,250 26,150
Profit for the year 166,617 166,617
Assets revalued in period (177,750 ) 177,750 -
At 31 January 2024 (182,233 ) 375,000 192,767

11. RELATED PARTY DISCLOSURES

Stratton Wentworth Limited, a company in which Mr Daniel is also a company director, was owed £694,274 at the year end (2023: £1,047,822).

Taylor Wentworth Limited, a company in which Mr Daniel is also a company director, was owed £95,454 at the year end (2023 - NIL)

Bradfield Wentworth Limited, a company in which Mr Daniel is also a company director, was owed £353,608 at the year end (2023 - NIL)