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Company No: 06591644 (England and Wales)

GYNN CONSTRUCTION HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

GYNN CONSTRUCTION HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

GYNN CONSTRUCTION HOLDINGS LIMITED

BALANCE SHEET

As at 31 May 2024
GYNN CONSTRUCTION HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 627,252 649,490
627,252 649,490
Current assets
Cash at bank and in hand 864,820 451,425
864,820 451,425
Creditors: amounts falling due within one year 4 ( 131,642) ( 36,693)
Net current assets 733,178 414,732
Total assets less current liabilities 1,360,430 1,064,222
Net assets 1,360,430 1,064,222
Capital and reserves
Called-up share capital 5 100 100
Capital redemption reserve 100 100
Other reserves 24,865 24,865
Profit and loss account 1,335,365 1,039,157
Total shareholders' funds 1,360,430 1,064,222

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gynn Construction Holdings Limited (registered number: 06591644) were approved and authorised for issue by the Board of Directors on 23 October 2024. They were signed on its behalf by:

D G Derry
Director
GYNN CONSTRUCTION HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
GYNN CONSTRUCTION HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gynn Construction Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kestle Quarry, Sladesbridge, Wadebridge, Cornwall, PL27 6JB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 June 2023 625,000
At 31 May 2024 625,000
Carrying value at 31 May 2024 625,000
Carrying value at 31 May 2023 625,000

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 June 2023 324,490 324,490
Disposals ( 22,238) ( 22,238)
At 31 May 2024 302,252 302,252
Provisions for impairment
At 01 June 2023 300,000 300,000
At 31 May 2024 300,000 300,000
Carrying value at 31 May 2024 2,252 2,252
Carrying value at 31 May 2023 24,490 24,490

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.05.2024
Ownership
31.05.2023
Gynn Construction Limited Kestle Quarry, Sladesbridge, Wadebridge, Cornwall PL27 6JB Provision of building and construction services Ordinary 100.00% 100.00%
P & R Wadebridge Developments Limited Cardrew House, Cardrew Industrial Estate, Redruth, Cornwall TR15 1SP In liquidation Ordinary 25.00% 25.00%

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 127,434 28,321
Amounts owed to associates 1,500 8,250
Corporation tax 2,708 122
131,642 36,693

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

Reserves

The other reserve represents a merger reserve and is considered to be non-distributable.

6. Related party transactions

Transactions with entities in which the entity itself has a participating interest

Gynn Construction Limited
Intra-group loan
The company operates a loan account with Gynn Construction Limited. At the balance sheet date the company owed Gynn Construction Limited £127,434 (2023 £28,321). No interest has been charged on this loan.

P & R Wadebridge Developments Limited
Inter-company loan
The company operates a loan account with P & R Wadebridge Developments Limited. At the balance sheet date the amount due to P & R Wadebridge Developments Limited was £1,500 (2023 £8,250). No interest has been charged on this loan.