Gordon House Investments Limited Filleted Accounts Cover
Gordon House Investments Limited
Company No. 06233358
Information for Filing with The Registrar
31 March 2024
Gordon House Investments Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was management of commercial and residential property.
Directors
The Directors who served at any time during the year were as follows:
Benjamin Tebbutt
Patrick Atkinson
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Patrick Atkinson
Director
24 February 2025
Gordon House Investments Limited Balance Sheet Registrar
at
31 March 2024
Company No.
06233358
Notes
2024
2023
£
£
Fixed assets
Investment property
4
3,815,0003,815,000
3,815,0003,815,000
Current assets
Debtors
5
27,49412,955
Cash at bank and in hand
18,07250,400
45,56663,355
Creditors: Amount falling due within one year
6
(1,156,165)
(1,187,249)
Net current liabilities
(1,110,599)
(1,123,894)
Total assets less current liabilities
2,704,4012,691,106
Creditors: Amounts falling due after more than one year
7
(1,280,815)
(1,302,462)
Provisions for liabilities
Deferred taxation
(180,000)
(160,000)
Net assets
1,243,5861,228,644
Capital and reserves
Called up share capital
100100
Investment property fair value reserve
11
858,004858,004
Profit and loss account
11
385,482370,540
Total equity
1,243,5861,228,644
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 24 February 2025 and signed on its behalf by:
Patrick Atkinson
Director
24 February 2025
Gordon House Investments Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Gordon House Investments Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 06233358
Its registered office is:
Forbes Park
2 Toton Close
Long Eaton
Nottingham
NG10 3TP
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The directors are not aware of any material threats to the ability of the company to continue to trade for the foreseeable future.
2
Accounting policies
Turnover
Turnover is the fair value of rent receivable for the period.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2023
3,815,000
At 31 March 2024
3,815,000
The freehold investment property of the company was revalued on an existing use basis by the directors on 31 December 2023
5
Debtors
2024
2023
£
£
Trade debtors
6,72510,800
Other debtors
1,269-
Prepayments and accrued income
19,5002,155
27,49412,955
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
60,50280,381
Other loans
1,040,5331,020,630
Trade creditors
15,45911,036
Taxes and social security
1,640
11,823
Loans from directors
17,18316,559
Accruals and deferred income
20,84846,820
1,156,1651,187,249
The bank borrowings are secured by a charge over the property owned by the company and by a debenture overall all of the assets of the company.
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,280,8151,302,462
1,280,8151,302,462
Liabilities repayable in more than five years after the balance sheet date
Amount repayable by instalments
-
937,472
-937,472
The bank borrowings are secured by fixed charges over the property owned by the company and by a debenture over all of the assets of the company.
8
Creditors: secured liabilities
2024
2023
£
£
The aggregate amount of secured liabilities included within creditors
1,314,1671,347,078
9
Share Capital
Share capital consists of 100 Ordinary Shares of £1 each, which are fully paid up.
10
Related party transactions
The directors of the company are also directors of Gordon House Developments Limited.
At 31 March 2024 the company owed £640,533 (2023 £620,630) to Gordon House Developments Limited to the company.
The balance is unsecured, repayable upon demand and bears interest at a commercial rate.
Interest of £Nil (2023 £36,983) was payable on the balance during the year.
The director, P.S Atkinson is also a director of FieldHouse Limited.
At 31 March 2024 the company owed £400,000 (2023 £400,000) to FieldHouse Limited.
The balance is unsecured, free of interest and is repayable upon demand.
11
Reserves
Investment property fair value reserve
Total other reserves
£
£
At 1 April 2022
1,058,004
1,058,004
Deferred taxation
(200,000)
(200,000)
At 31 March 2023 and 1 April 2023
858,004
858,004
At 31 March 2024
858,004858,004
Investment property fair value reserve- reflects the revaluation of investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
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