Company registration number 03016633 (England and Wales)
GAUDIO PROPERTIES LIMITED
Unaudited financial statements
For the period ended 31 December 2023
Pages for filing with registrar
GAUDIO PROPERTIES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
GAUDIO PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 December 2023
- 1 -
31 December 2023
31 March 2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
557
158
Investment property
5
1,450,000
1,813,360
1,450,557
1,813,518
Current assets
Cash and cash equivalents
300,521
462,318
Current liabilities
6
(1,030,646)
(1,642,621)
Net current liabilities
(730,125)
(1,180,303)
Total assets less current liabilities
720,432
633,215
Non-current liabilities
7
(150,000)
(120,000)
Provisions for liabilities
8
(1,720)
(1,720)
Net assets
568,712
511,495
Equity
Called up share capital
9
10
10
Retained earnings
568,702
511,485
Total equity
568,712
511,495
GAUDIO PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 December 2023
- 2 -

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
T C Osborne
Director
Company registration number 03016633 (England and Wales)
GAUDIO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 December 2023
- 3 -
1
Accounting policies
Company information

Gaudio Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Meadowcroft House, Goudhurst Road, Staplehurst, Kent, TN12 0HQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial year has been shortened to 31st December 2023 and therefore current and prior periods are not entirely comparable. The accounts are showing a nine month reporting period to 31st December 2023.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
Fixtures, fittings & equipment
20% straight line
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GAUDIO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (31st March 2023 - 1).

2023
2023
Number
Number
Total
1
1
GAUDIO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 December 2023
- 5 -
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2023
7,088
Additions
539
At 31 December 2023
7,627
Depreciation and impairment
At 1 April 2023
6,930
Depreciation charged in the period
140
At 31 December 2023
7,070
Carrying amount
At 31 December 2023
557
At 31 March 2023
158
5
Investment property
2023
£
Fair value
At 1 April 2023
1,813,360
Additions
12,039
Disposals
(375,399)
At 31 December 2023
1,450,000

The fair value of the properties have been arrived at on the basis of a valuation carried out by the directors in the prior years, by the market evidence of transaction prices for similar properties.

6
Current liabilities
2023
2023
£
£
Bank loans
-
0
175,000
Corporation tax
97,151
98,201
Other payables
933,495
1,369,420
1,030,646
1,642,621
GAUDIO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 December 2023
- 6 -
7
Non-current liabilities
2023
2023
£
£
Bank loans and overdrafts
150,000
120,000
8
Provisions for liabilities
2023
2023
£
£
Deferred tax liabilities
1,720
1,720
9
Called up share capital
2023
2023
2023
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary Shares of £1 each
1
1
1
1
Ordinary shares of £1 each
9
9
9
9
10
10
10
10

The holder of each A Ordinary share is entitled to ten votes whereas the holder of each Ordinary share is entitled to one vote. The shares rank equally in all other respects.

10
Related party transactions

At the year end there was an amount of £928,069.02 (2023: £1,362,620) owed to the directors of the company.

2023-12-312023-04-01falsefalsefalse28 October 2024CCH SoftwareCCH Accounts Production 2024.301No description of principal activityT H OsborneT C OsborneV M OsborneWSM Services Limited030166332023-04-012023-12-31030166332023-12-31030166332023-03-3103016633core:OtherPropertyPlantEquipment2023-12-3103016633core:OtherPropertyPlantEquipment2023-03-3103016633core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103016633core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3103016633core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103016633core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3103016633core:CurrentFinancialInstruments2023-12-3103016633core:CurrentFinancialInstruments2023-03-3103016633core:ShareCapital2023-12-3103016633core:ShareCapital2023-03-3103016633core:RetainedEarningsAccumulatedLosses2023-12-3103016633core:RetainedEarningsAccumulatedLosses2023-03-3103016633core:ShareCapitalOrdinaryShares2023-12-3103016633core:ShareCapitalOrdinaryShares2023-03-3103016633bus:Director22023-04-012023-12-3103016633core:FurnitureFittings2023-04-012023-12-31030166332023-01-012023-03-3103016633core:OtherPropertyPlantEquipment2023-03-3103016633core:OtherPropertyPlantEquipment2023-04-012023-12-31030166332023-03-3103016633core:Non-currentFinancialInstruments2023-12-3103016633core:Non-currentFinancialInstruments2023-03-3103016633bus:PrivateLimitedCompanyLtd2023-04-012023-12-3103016633bus:FRS1022023-04-012023-12-3103016633bus:AuditExemptWithAccountantsReport2023-04-012023-12-3103016633bus:Director12023-04-012023-12-3103016633bus:Director32023-04-012023-12-3103016633bus:CompanySecretary12023-04-012023-12-3103016633bus:SmallCompaniesRegimeForAccounts2023-04-012023-12-3103016633bus:FullAccounts2023-04-012023-12-31xbrli:purexbrli:sharesiso4217:GBP