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Registered number: 00805321
Gerradon Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
476 St. Albans Road
Watford
WD24 6QU
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 00805321
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 453 -
Investment Properties 5 930,720 930,720
931,173 930,720
CURRENT ASSETS
Debtors 6 - 37,269
Cash at bank and in hand 64,854 113,609
64,854 150,878
Creditors: Amounts Falling Due Within One Year 7 (3,318 ) (46,512 )
NET CURRENT ASSETS (LIABILITIES) 61,536 104,366
TOTAL ASSETS LESS CURRENT LIABILITIES 992,709 1,035,086
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,325 ) (11,325 )
NET ASSETS 981,384 1,023,761
CAPITAL AND RESERVES
Called up share capital 8 260,000 260,000
Other reserves 354,173 365,183
Profit and Loss Account 367,211 398,578
SHAREHOLDERS' FUNDS 981,384 1,023,761
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sidonie Rees
Director
20/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gerradon Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00805321 . The registered office is 7a High Street,, Barnet, England, EN5 5UE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% RBM
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 -
Additions 533
As at 31 March 2024 533
Depreciation
As at 1 April 2023 -
Provided during the period 80
As at 31 March 2024 80
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 453
As at 1 April 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 930,720
6. Debtors
2024 2023
£ £
Due within one year
Rees Trust - 37,269
- 37,269
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (446 )
Corporation tax (20 ) -
Other taxes and social security - 37,703
Other creditors - 5,700
Rental deposit 1,025 -
Accruals and deferred income 166 240
Director's loan account 2,147 3,315
3,318 46,512
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 260,000 260,000
Page 4