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Registration number: 12984550

GCP Housing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

GCP Housing Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

GCP Housing Ltd

Company Information

Director

Mr G Tempest-Hay

Registered office

Malt House Bran End
Stebbing
Dunmow
CM6 3RX

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

GCP Housing Ltd

(Registration number: 12984550)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

518,311

518,311

Current assets

 

Debtors

5

808

1,250

Cash at bank and in hand

 

2,332

3,689

 

3,140

4,939

Creditors: Amounts falling due within one year

6

(428,079)

(414,236)

Net current liabilities

 

(424,939)

(409,297)

Total assets less current liabilities

 

93,372

109,014

Creditors: Amounts falling due after more than one year

6

(127,500)

(127,500)

Net liabilities

 

(34,128)

(18,486)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(34,129)

(18,487)

Shareholders' deficit

 

(34,128)

(18,486)

For the financial year ending 31 October 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 and 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 9 February 2025
 

.........................................
Mr G Tempest-Hay
Director

 

GCP Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Malt House Bran End
Stebbing
Dunmow
CM6 3RX
England

These financial statements were authorised for issue by the director on 9 February 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).

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 balance sheet shows a net liability position as at 31 October 2024. However the director will provide adequate finance going forward to ensure that the company is able to meet its financial obligations and as such considers the going concern basis is appropriate.

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.

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.

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.

 

GCP Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

GCP Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Investment properties

2024
£

At 1 November 2023

518,311

At 31 October 2024

518,311

The investment properties are valued on a historic cost basis.

5

Debtors

2024
£

2023
£

Prepayments

750

1,250

Other debtors

58

-

808

1,250

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

507

Accruals and deferred income

1,740

2,132

Other creditors

426,339

411,597

428,079

414,236

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

127,500

127,500

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

127,500

127,500

Other borrowings

 

GCP Housing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

The carrying amount of other borrowings at year end is £Nil.

The loan liabilities are secured under a mortage deed over the assets of the company.