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COMPANY REGISTRATION NUMBER: 12053122
Gulliver & Challoner Consultancy Services Limited
Filleted Unaudited Financial Statements
30 June 2024
Gulliver & Challoner Consultancy Services Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Gulliver & Challoner Consultancy Services Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
415,090
415,090
Creditors: amounts falling due within one year
6
1,750
1,575
-------
-------
Net current liabilities
1,750
1,575
---------
---------
Total assets less current liabilities
413,340
413,515
Creditors: amounts falling due after more than one year
7
486,116
475,126
---------
---------
Net liabilities
( 72,776)
( 61,611)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 72,876)
( 61,711)
--------
--------
Shareholders deficit
( 72,776)
( 61,611)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
J M Gay
Director
Company registration number: 12053122
Gulliver & Challoner Consultancy Services Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Penoyre House, Penoyre, Cradoc, Brecon, LD3 9LP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has considered the position of the company and due to the continued support of the shareholder they believe it is appropriate to continue to use the going concern basis for the preparation of the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to 1 (2023: 1).
5. Tangible assets
Investment property
£
Cost
At 1 July 2023 and 30 June 2024
415,090
---------
Depreciation
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
415,090
---------
At 30 June 2023
415,090
---------
The director believes that the fair value of the investment property at the year end is £415,090 (2023: £415,090). The fair value of the property is not based on an independent valuation.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,750
1,575
-------
-------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
153,247
153,247
Other creditors
332,869
321,879
---------
---------
486,116
475,126
---------
---------
The bank loans and overdrafts are secured against the fixed assets of the company.
8. Related party transactions
At the year end, the company owed the director £332,869 (2022: £315,455).