G Phouli Investment Limited 06243825 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is operating rental properties. Digita Accounts Production Advanced 6.30.9574.0 true 06243825 2023-04-01 2024-03-31 06243825 2024-03-31 06243825 core:CurrentFinancialInstruments 2024-03-31 06243825 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06243825 core:Non-currentFinancialInstruments 2024-03-31 06243825 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06243825 bus:SmallEntities 2023-04-01 2024-03-31 06243825 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06243825 bus:FilletedAccounts 2023-04-01 2024-03-31 06243825 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06243825 bus:RegisteredOffice 2023-04-01 2024-03-31 06243825 bus:CompanySecretary1 2023-04-01 2024-03-31 06243825 bus:Director1 2023-04-01 2024-03-31 06243825 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06243825 bus:Agent1 2023-04-01 2024-03-31 06243825 countries:EnglandWales 2023-04-01 2024-03-31 06243825 2023-03-31 06243825 2022-04-01 2023-03-31 06243825 2023-03-31 06243825 core:CurrentFinancialInstruments 2023-03-31 06243825 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06243825 core:Non-currentFinancialInstruments 2023-03-31 06243825 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06243825

G Phouli Investment Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

G Phouli Investment Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 7

 

G Phouli Investment Limited

Company Information

Director

G C Phouli

Company secretary

A Phouli

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Certified Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
G Phouli Investment Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of G Phouli Investment Limited for the year ended 31 March 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of G Phouli Investment Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of G Phouli Investment Limited and state those matters that we have agreed to state to the Board of Directors of G Phouli Investment Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G Phouli Investment Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that G Phouli Investment Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of G Phouli Investment Limited. You consider that G Phouli Investment Limited 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 accounts of G Phouli Investment Limited. 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 accounts.

......................................

DSK Partners LLP
Chartered Certified Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

29 October 2024

 

G Phouli Investment Limited

(Registration number: 06243825)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,011,226

1,011,226

Current assets

 

Debtors

5

1,835

1,057

Cash at bank and in hand

 

207,183

84

 

209,018

1,141

Creditors: Amounts falling due within one year

6

(228,644)

(23,539)

Net current liabilities

 

(19,626)

(22,398)

Total assets less current liabilities

 

991,600

988,828

Creditors: Amounts falling due after more than one year

6

(840,000)

(840,000)

Net assets

 

151,600

148,828

Capital and reserves

 

Called up share capital

3

3

Retained earnings

151,597

148,825

Shareholders' funds

 

151,600

148,828

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 29 October 2024
 

G C Phouli
Director

   
     
 

G Phouli Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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.

 

G Phouli Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

G Phouli Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Investment properties

Fair Value

2024
£

At 1 April 2023

1,011,226

Fair value adjustments

-

At 31 March 2024

1,011,226

 

G Phouli Investment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Prepayments

1,835

1,057

 

1,835

1,057

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,800

1,698

Other creditors

226,844

21,841

228,644

23,539

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

840,000

840,000

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

840,000

840,000