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REGISTERED NUMBER: 03820759 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

GEORGINA PROPERTIES LIMITED

GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GEORGINA PROPERTIES LIMITED

Company Information
for the year ended 30 June 2024







Director: Mr R Willis





Secretary: Mrs B E Willis





Registered office: 21-23 Algitha Road
Skegness
Lincolnshire
PE25 2AG





Registered number: 03820759 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Statement of Financial Position
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 24,444 2,388
Investment property 5 2,224,832 2,324,832
2,249,276 2,327,220

Current assets
Debtors 6 123,137 34,167
Cash at bank 13,281 8,687
136,418 42,854
Creditors
Amounts falling due within one year 7 10,202 11,315
Net current assets 126,216 31,539
Total assets less current liabilities 2,375,492 2,358,759

Provisions for liabilities 243,680 239,930
Net assets 2,131,812 2,118,829

Capital and reserves
Called up share capital 8 105 105
Revaluation reserve 9 204,750 204,750
Fair value reserve 9 24,000 24,000
Retained earnings 9 1,902,957 1,889,974
Shareholders' funds 2,131,812 2,118,829

GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Statement of Financial Position - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 3 November 2024 and were signed by:





Mr R Willis - Director


GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Georgina Properties Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - 20% on cost
Plant and machinery - 20% on reducing balance

Investment property
Investment properties are included in the balance sheet at their open market value (valued by the director). Any aggregate surplus or deficit arising from changes in the market value are transferred to the fair value reserve on an annual basis which will not be distributed. The uplift or deficit will also be shown on the other comprehensive income statement. Any movement on the fair value in future will be subject to deferred taxation.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 1 ) .

GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


4. Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
Cost
At 1 July 2023 9,000 6,533 - 15,533
Additions - - 24,740 24,740
At 30 June 2024 9,000 6,533 24,740 40,273
Depreciation
At 1 July 2023 9,000 4,145 - 13,145
Charge for year - 487 2,197 2,684
At 30 June 2024 9,000 4,632 2,197 15,829
Net book value
At 30 June 2024 - 1,901 22,543 24,444
At 30 June 2023 - 2,388 - 2,388

5. Investment property
Total
£
Fair value
At 1 July 2023 2,324,832
Disposals (165,000 )
Fair value increase 65,000
At 30 June 2024 2,224,832
Net book value
At 30 June 2024 2,224,832
At 30 June 2023 2,324,832

Fair value at 30 June 2024 is represented by:
£
Valuation in 2015 141,720
Valuation in 2017 93,030
Valuation in 2018 35,970
Valuation in 2021 105,000
Valuation in 2022 324,000
Valuation in 2023 260,000
Valuation in 2024 15,000
Cost 1,250,112
2,224,832

The company's investment properties were valued by the director, Mr R Willis by estimating their current fair market value. If the investment properties had not been valued at fair value, they would have been included at the historical cost value of £1,250,112.

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 123,137 34,167

GEORGINA PROPERTIES LIMITED (REGISTERED NUMBER: 03820759)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 8,202 8,719
Directors' loan accounts - 596
Accrued expenses 2,000 2,000
10,202 11,315

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
8,400 Ordinary 1p 84 84
2,100 B Ordinary 1p 21 21
105 105

9. Reserves
Retained Revaluation Fair value
earnings reserve reserve Totals
£ £ £ £

At 1 July 2023 1,889,974 204,750 24,000 2,118,724
Profit for the year 118,317 118,317
Dividends (105,334 ) (105,334 )
At 30 June 2024 1,902,957 204,750 24,000 2,131,707