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REGISTERED NUMBER: 13049739 (England and Wales)























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

GLOUCESTER DRIVE LIMITED

GLOUCESTER DRIVE LIMITED (REGISTERED NUMBER: 13049739)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


GLOUCESTER DRIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: Mr K W Leng





REGISTERED OFFICE: 39 Hendon Lane
Finchley
London
N3 1RY





REGISTERED NUMBER: 13049739 (England and Wales)





ACCOUNTANTS: Guner Associates
Chartered Accountants
39 Hendon Lane
Finchley
London
N3 1RY

GLOUCESTER DRIVE LIMITED (REGISTERED NUMBER: 13049739)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 955,000 1,498,281
Debtors 56,271 103,677
Cash at bank 22,449 36,865
1,033,720 1,638,823
CREDITORS
Amounts falling due within one year 2,250,157 1,810,112
NET CURRENT LIABILITIES (1,216,437 ) (171,289 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,216,437

)

(171,289

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (1,217,437 ) (172,289 )
SHAREHOLDERS' FUNDS (1,216,437 ) (171,289 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement and an abridged Statement of Financial Position for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





Mr K W Leng - Director


GLOUCESTER DRIVE LIMITED (REGISTERED NUMBER: 13049739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Gloucester Drive 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

GLOUCESTER DRIVE LIMITED (REGISTERED NUMBER: 13049739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,091,269 1,043,387
Shareholders loans 989,992 740,299
2,081,261 1,783,686

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,091,269 1,043,387

Bank loans are secured by a debenture and legal charge over the company's development property.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
375 Ordinary A 1 375 375
375 Ordinary B 1 375 375
250 Ordinary C 1 250 250
1,000 1,000