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Registration number: 06553364

Gayton Farm Buildings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

Company Information

Director

Lord Julian Charles Romney

Company secretary

Mr Paul John Rix

Registered office

Unit 2 Fordham House
Fordham
Cambridgeshire
CB7 5LL

Registered number

06553364

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

52,261

53,052

Cash at bank and in hand

 

654

2,608

 

52,915

55,660

Creditors: Amounts falling due within one year

5

(1,362,024)

(1,379,314)

Total assets less current liabilities

 

(1,309,109)

(1,323,654)

Creditors: Amounts falling due after more than one year

5

(10,833)

(20,833)

Net liabilities

 

(1,319,942)

(1,344,487)

Capital and Reserves

 

Called up share capital

900

900

Retained Earnings

(1,320,842)

(1,345,387)

Shareholders' deficit

 

(1,319,942)

(1,344,487)

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
Lord Julian Charles Romney
Director

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

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:
Unit 2 Fordham House
Fordham
Cambridgeshire
CB7 5LL
England

These financial statements were authorised for issue by the director on 29 January 2025.

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis. The company has net liabilities at the balance sheet date but the continuing director has confirmed he will provide financial support to the company as required and for a period of at least 12 months from the date of approval of the balance sheet.

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Estimated selling price is taken from market value of each property as at the balance sheet date.

The cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Debtors

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

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

Current

2024
£

2023
£

Prepayments

-

37

Other debtors

52,261

53,015

 

52,261

53,052

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

10,000

10,000

Trade Creditors

 

-

1,245

Accruals and deferred income

 

1,171

-

Other creditors

 

1,350,853

1,368,069

 

1,362,024

1,379,314

The loans and borrowings balance is a bounce bank loan from Lloyds Bank plc which is not secured.

Other creditors includes a balance of £1,318,272 (2023 - £1,348,272) due to Lord Julian Charles Romney in respect of his Director's loan to the company. Of this balance £nil (2023 - £nil) was secured on land and buildings owned by the company. The director's loan is repayable on demand but has no fixed date for repayment.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

10,833

20,833

 

Gayton Farm Buildings Limited
(Registration number: 06553364)

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

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,833

20,833

Bank borrowings

Bank borrowings comprise of a bounce back from Lloyds Bank plc which is not secured.