Registered number
09694398
G&D Investment Properties Limited
Unaudited Filleted Accounts
31 March 2024
G&D Investment Properties Limited
Registered number: 09694398
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,913 10,307
Investment property 4 1,140,000 1,090,000
1,148,913 1,100,307
Current assets
Debtors 5 2,695 1,392
Cash at bank and in hand 28,561 49,689
31,256 51,081
Creditors: amounts falling due within one year 6 (10,364) (63,018)
Net current assets/(liabilities) 20,892 (11,937)
Total assets less current liabilities 1,169,805 1,088,370
Creditors: amounts falling due after more than one year 7 (761,158) (727,157)
Provisions for liabilities (82,446) (69,805)
Net assets 326,201 291,408
Capital and reserves
Called up share capital 100 100
Profit and loss account 9 326,101 291,308
Shareholders' funds 326,201 291,408
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Agrotis
Director
Approved by the board on 18 November 2024
G&D Investment Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% per annum, reducing balance basis
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 21,715
Additions 1,728
At 31 March 2024 23,443
Depreciation
At 1 April 2023 11,408
Charge for the year 3,122
At 31 March 2024 14,530
Net book value
At 31 March 2024 8,913
At 31 March 2023 10,307
4 Investment property
Investment
properties
£
Fair value
At 1 April 2023 1,090,000
Fair value adjustment 50,000
At 31 March 2024 1,140,000
Historical cost
At 1 April 2023 813,476
At 31 March 2024 813,476
5 Debtors 2024 2023
£ £
Other debtors 2,695 1,392
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,600 6,285
Taxation and social security costs 465 13,134
Other creditors 3,299 43,599
10,364 63,018
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 673,100 676,546
Other creditors 88,058 50,611
761,158 727,157
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 646,700 651,406
Secured bank loans 679,700 682,831
The loans are secured on the company's properties by way of legal mortgages including fixed charges and negative pledge.
9 Profit and loss account 2024 2023
£ £
Distributable reserves 81,208 83,915
Non-distributable reserves 244,893 207,393
326,101 291,308
10 Other information
G&D Investment Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Gateway Mews
London
N11 2UT
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