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Registration number: 04317206

G. K. Land Engineering (Holdings) Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Company Information

Directors

B J Woodward

L M Woodward

W Land

M K Land

A M Watson

A Land

J K Land

Company secretary

A Land

Registered office

Exeter Airport Business Park
Fair Oak Close
Clyst Honiton
Exeter
Devon
EX5 2UL

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,673,535

1,673,535

Investments

5,100

5,100

 

1,678,635

1,678,635

Current assets

 

Debtors

6

26,166

248,912

Cash at bank and in hand

 

16,658

11,004

 

42,824

259,916

Creditors: Amounts falling due within one year

7

(62,657)

(104,134)

Net current (liabilities)/assets

 

(19,833)

155,782

Total assets less current liabilities

 

1,658,802

1,834,417

Creditors: Amounts falling due after more than one year

7

(1,004,091)

(1,053,253)

Net assets

 

654,711

781,164

Capital and reserves

 

Called up share capital

4,400

4,400

Capital redemption reserve

100

100

Profit and loss account

650,211

776,664

Total equity

 

654,711

781,164

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 

.........................................
B J Woodward
Director

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Exeter Airport Business Park
Fair Oak Close
Clyst Honiton
Exeter
Devon
EX5 2UL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Investment properties

2024
£

At 1 May

1,673,535

At 30 April

1,673,535

There has been no valuation of investment property by an independent valuer.

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

5,100

5,100

Subsidiaries

£

Cost or valuation

At 1 May 2023

5,100

Carrying amount

At 30 April 2024

5,100

At 30 April 2023

5,100

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

10,212

21,840

Amounts owed by group undertakings and undertakings in which the company has a participating interest

15,954

223,352

Other debtors

 

-

3,720

Total current trade and other debtors

 

26,166

248,912

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

41,995

74,367

Taxation and social security

 

2,644

-

Other creditors

 

7,169

7,168

Deferred income

 

10,849

22,599

 

62,657

104,134

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £41,995 (2023 - £40,167).

 

G. K. Land Engineering (Holdings) Ltd
(Registration number: 04317206)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,004,091

1,053,253

2024
£

2023
£

Due after more than five years

After more than five years by instalments

836,113

881,636

-

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,004,091 (2023 - £1,042,304).

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

41,995

40,167

Other borrowings

-

34,200

41,995

74,367

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

1,004,091

1,042,304

Other borrowings

-

10,949

1,004,091

1,053,253

Included in the loans and borrowings are the following amounts due after more than five years:

2024
£

2023
£

After more than five years by instalments

836,113

881,636