BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period property investment company. 14 November 2024 0 0 13224789 2024-02-28 13224789 2023-02-28 13224789 2022-02-28 13224789 2023-03-01 2024-02-28 13224789 2022-03-01 2023-02-28 13224789 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13224789 uk-curr:PoundSterling 2023-03-01 2024-02-28 13224789 uk-bus:AbridgedAccounts 2023-03-01 2024-02-28 13224789 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-28 13224789 uk-core:ShareCapital 2024-02-28 13224789 uk-core:ShareCapital 2023-02-28 13224789 uk-core:RetainedEarningsAccumulatedLosses 2024-02-28 13224789 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 13224789 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-28 13224789 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 13224789 uk-bus:FRS102 2023-03-01 2024-02-28 13224789 uk-core:CostValuation 2023-02-28 13224789 uk-core:DisposalsRepaymentsInvestments 2024-02-28 13224789 uk-core:CostValuation 2024-02-28 13224789 2023-03-01 2024-02-28 13224789 uk-bus:Director1 2023-03-01 2024-02-28 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
GTO Developments Ltd
 
Abridged Unaudited Financial Statements
 
for the financial period ended 28 February 2024



GTO Developments Ltd

ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited Abridged financial statements of GTO Developments Ltd
for the financial period ended 28 February 2024
 
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the abridged financial statements of the company for the financial period ended 28 February 2024 as set out on pages  to  which comprise the Abridged Balance Sheet and the related notes from the company's accounting records and information and explanations you have given to us.
 
This report is made solely to the director of GTO Developments Ltd, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by and have complied with the relevant ethical guidance laid down by relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Balance Sheet for the period ended 28 February 2024 your duty to ensure that GTO Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GTO Developments Ltd. You consider that GTO Developments Ltd is exempt from the statutory audit requirement for the financial period.
 
We have not been instructed to carry out an audit or a review of the abridged financial statements of GTO Developments Ltd. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
 
 
 
__________________________________
EQUATE LTD
142 Thornes Lane
Wakefield
WF2 7RE
United Kingdom
 
14 November 2024



GTO Developments Ltd
Company Registration Number: 13224789
ABRIDGED BALANCE SHEET
as at 28 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 600,000 -
Investments 6 - 360,000
───────── ─────────
Fixed Assets 600,000 360,000
───────── ─────────
 
Current Assets
Cash and cash equivalents 11,926 12,542
Creditors: amounts falling due within one year (384,340) (383,740)
───────── ─────────
Net Current Liabilities (372,414) (371,198)
───────── ─────────
Total Assets less Current Liabilities 227,586 (11,198)
 
Provisions for liabilities (59,863) -
───────── ─────────
Net Assets/(Liabilities) 167,723 (11,198)
═════════ ═════════
 
Capital and Reserves
Called up share capital 3 3
Retained earnings 167,720 (11,201)
───────── ─────────
Equity attributable to owners of the company 167,723 (11,198)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial period ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Director and authorised for issue on 14 November 2024
           
           
________________________________          
Robert Knowles          
Director          
           



GTO Developments Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial period ended 28 February 2024

   
1. General Information
 
GTO Developments Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 13224789. The registered office of the company is Sherwood Industrial Estate, Unit 6, Wakefield, United Kingdom, WF3 3EL, United Kingdom which is also the principal place of business of the company. property investment company. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 28 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial period in which it is receivable.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 11 month 28 days period ended 28 February 2024.
       
4. Employees
 
The average monthly number of employees, including director, during the financial period was 0, (2023 - 0).
       
5. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost or Valuation
At 1 March 2023 - -
Additions 360,550 360,550
Revaluation 239,450 239,450
  ───────── ─────────
At 28 February 2024 600,000 600,000
  ───────── ─────────
Depreciation
At 1 March 2023 - -
  ───────── ─────────
At 28 February 2024 - -
  ───────── ─────────
Net book value
At 28 February 2024 600,000 600,000
  ═════════ ═════════
       
6. Investments
  Other Total
  investments  
     
Investments £ £
Cost
At 1 March 2023 360,000 360,000
Disposals (360,000) (360,000)
  ───────── ─────────
At 28 February 2024 - -
  ───────── ─────────
Net book value
At 28 February 2024 - -
  ═════════ ═════════
At 28 February 2023 360,000 360,000
  ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial period-ended 28 February 2024.
   
8. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial period-end.