REGISTERED NUMBER: |
Ian Gordon Catering Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
Ian Gordon Catering Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
Ian Gordon Catering Limited (Registered number: SC253286) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ian Gordon Catering Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
Edinburgh West End Office |
142-144 Princes Street |
Edinburgh |
EH2 4EQ |
Ian Gordon Catering Limited (Registered number: SC253286) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
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. |
Ian Gordon Catering Limited (Registered number: SC253286) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Ian Gordon Catering Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents income from property rental. Revenue is recognised in accordance with the terms of the lease agreement. |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
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. |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
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). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | INVESTMENT PROPERTY - continued |
The investment property was valued on an open market basis by the director, who is not a professional valuer on 31 July 2024. |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2015 | 19,824 |
Valuation in 2017 | 9,000 |
Valuation in 2018 | 5,515 |
Valuation in 2021 | 9,467 |
Valuation in 2022 | 9,940 |
Valuation in 2023 | 6,078 |
Cost | 160,176 |
220,000 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
Included in other creditors is a balance due on the director's current account. This balance is unsecured, interest-free, and repayable on demand. |
7. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2023 | 234,557 |
Profit for the year | - |
Dividends | ( |
) | - | ( |
) |
At 31 July 2024 | 246,369 |
The fair value reserve represents the net revaluation surplus that is not readily distributable as realised earnings. |