GEDOM PROPERTIES LIMITED

Company Registration Number:
13632430 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

GEDOM PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

GEDOM PROPERTIES LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,193,875 1,193,875
Total fixed assets: 1,193,875 1,193,875
Current assets
Debtors: 4 284 5,296
Cash at bank and in hand: 10,795 134,702
Total current assets: 11,079 139,998
Net current assets (liabilities): 11,079 139,998
Total assets less current liabilities: 1,204,954 1,333,873
Creditors: amounts falling due after more than one year: 5 (1,181,167) (1,331,454)
Total net assets (liabilities): 23,787 2,419
Capital and reserves
Called up share capital: 25,000 25,000
Profit and loss account: (1,213) (22,581)
Shareholders funds: 23,787 2,419

The notes form part of these financial statements

GEDOM PROPERTIES LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 November 2024
and signed on behalf of the board by:

Name: Dr. Moira Domaille
Status: Director

The notes form part of these financial statements

GEDOM PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of consideration received or receivable for goods supplied and services rendered net of discounts.

Tangible fixed assets and depreciation policy

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Other accounting policies

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at their fair value through profit or loss. The preparation of the financial statements requires the directors to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature will rarely equal the related actual outcome. The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses are recognised to the extent that it is probable that they will be recovered against future taxable profits. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Cash and cash equivalents comprise cash at bank.

GEDOM PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

GEDOM PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 1,193,875
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2024 1,193,875
Depreciation
At 01 April 2023 0
Charge for year 0
On disposals 0
Other adjustments 0
At 31 March 2024 0
Net book value
At 31 March 2024 1,193,875
At 31 March 2023 1,193,875

Included within the above is investment property measured at a fair value of £1193875. In respect of tangible fixed assets the aggregate cost, depreciation and comparable carrying amount that would have been recognised at 31 March 2024 if the assets had been carried under the historical cost convention model are cost of £1193875, depreciation of zero and a carrying amount of £1193875. Valuations are undertaken by the directors.

GEDOM PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

The deferred tax asset relates to losses carried forward.

GEDOM PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due after more than one year note

Creditors due after more than one year comprise bank loans of £298150 (2023: £724125), amounts owed to directors of £633349 (2023: £359729) and amounts owed to shareholders who are not also directors of £247600 (2023: £247600). No interest is payable on the amounts owed to the company's directors or shareholders. The bank loans are secured by way of fixed charges over the investment properties to which they relate. Each of the directors has provided personal guarantees to the banks in respect of the bank loans.