Company registration number 11440477 (England and Wales)
G&A HOUSE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
G&A HOUSE LTD
COMPANY INFORMATION
Director
Mr A A R Khdir
Company number
11440477
Registered office
Burn Valley
Stockton Road
Castle Eden
Hartlepool
TS27 4SD
Accountants
Property Tax People Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
G&A HOUSE LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
G&A HOUSE LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF G&A HOUSE LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G&A House Ltd for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of G&A House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G&A House Ltd and state those matters that we have agreed to state to the board of directors of G&A House Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G&A House Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that G&A House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of G&A House Ltd. You consider that G&A House Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of G&A House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Property Tax People Limited
20 March 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
G&A HOUSE LTD
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,704
1,181
Investment property
4
1,085,000
1,085,000
1,088,704
1,086,181
Current assets
Debtors
5
51,606
36,652
Cash at bank and in hand
7,427
18,728
59,033
55,380
Creditors: amounts falling due within one year
6
(61,984)
(690,785)
Net current liabilities
(2,951)
(635,405)
Total assets less current liabilities
1,085,753
450,776
Creditors: amounts falling due after more than one year
7
(840,183)
(131,041)
Provisions for liabilities
9
(46,644)
(60,735)
Net assets
198,926
259,000
Capital and reserves
Called up share capital
10
100
100
Non-distributable profits reserve
11
257,965
257,965
Distributable profit and loss reserves
(59,139)
935
Total equity
198,926
259,000
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
G&A HOUSE LTD
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 20 March 2025
Mr A A R Khdir
Director
Company registration number 11440477 (England and Wales)
G&A HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information
G&A House Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Burn Valley, Stockton Road, Castle Eden, Hartlepool, TS27 4SD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
G&A HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 July 2023
153
1,744
1,349
3,246
Additions
3,178
3,178
At 30 June 2024
153
4,922
1,349
6,424
Depreciation and impairment
At 1 July 2023
43
673
1,349
2,065
Depreciation charged in the year
17
638
655
At 30 June 2024
60
1,311
1,349
2,720
Carrying amount
At 30 June 2024
93
3,611
3,704
At 30 June 2023
110
1,071
1,181
G&A HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
1,085,000
The directors have assessed the market value of the property and consider that there has been no significant change in the market value at the year end.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
51,606
36,652
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,145
657,451
Trade creditors
12,742
Taxation and social security
7,437
303
Other creditors
31,660
33,031
61,984
690,785
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
840,183
131,041
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
850,328
788,492
Bank loans are secured by way of a government-backed guarantee and over the property to which they relate.
G&A HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
46,644
60,735
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
11
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
257,965
-
Non distributable profits in the year
-
257,965
At the end of the year
257,965
257,965
12
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan account
2.25
35,060
9,380
821
(3,203)
42,058
35,060
9,380
821
(3,203)
42,058
13
Ultimate controlling party
The ultimate controlling party is Mr A A R Khdir.