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REGISTERED NUMBER: 00456974 (England and Wales)







Financial Statements for the Year Ended 31st March 2024

for

G C & A D Cullen Limited

G C & A D Cullen Limited (Registered number: 00456974)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G C & A D Cullen Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Andrew Berkeley Cullen
Maxwell Stuart Cullen
Magda Gillian Cullen
Heather Susan Cullen





SECRETARY: Andrew Berkeley Cullen





REGISTERED OFFICE: Lower Court
Cotheridge
Worcester
Worcestershire
WR6 5LZ





REGISTERED NUMBER: 00456974 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

G C & A D Cullen Limited (Registered number: 00456974)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,577 11,851
Investment property 5 4,017,560 4,017,560
4,048,137 4,029,411

CURRENT ASSETS
Debtors 58,185 9,814
Cash at bank 178,056 233,496
236,241 243,310
CREDITORS
Amounts falling due within one year 117,137 105,532
NET CURRENT ASSETS 119,104 137,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,167,241

4,167,189

PROVISIONS FOR LIABILITIES 258,761 183,056
NET ASSETS 3,908,480 3,984,133

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Non distributable reserve 6 3,729,246 3,729,246
Retained earnings 154,234 229,887
SHAREHOLDERS' FUNDS 3,908,480 3,984,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

G C & A D Cullen Limited (Registered number: 00456974)

Abridged Balance Sheet - continued
31st March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th November 2024 and were signed on its behalf by:





Maxwell Stuart Cullen - Director


G C & A D Cullen Limited (Registered number: 00456974)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

G C & A D Cullen Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INVESTMENTS
Current Asset investments are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

G C & A D Cullen Limited (Registered number: 00456974)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 158,193
Additions 24,325
At 31st March 2024 182,518
DEPRECIATION
At 1st April 2023 146,342
Charge for year 5,599
At 31st March 2024 151,941
NET BOOK VALUE
At 31st March 2024 30,577
At 31st March 2023 11,851

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 4,017,560
NET BOOK VALUE
At 31st March 2024 4,017,560
At 31st March 2023 4,017,560

If investment properties had not been revalued they would have been included at the following historical costs:-

Year ended 31 March 2024 £116,887 (2023 £116,887)

Investment properties were valued on an open market basis by the Directors on 10 October 2024 at £4,017,560.

The Directors have provided their best estimates of the open market value of the properties at the year end. The cost of a professional valuation is deemed to outweigh the benefits.

6. RESERVES
Non
distributable
reserve
£   
At 1st April 2023
and 31st March 2024 3,729,246