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REGISTERED NUMBER: SC038884















GANDER EQUITIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 141,540 141,540
Investment property 5 2,680,000 2,645,000
2,821,540 2,786,540

CURRENT ASSETS
Debtors 6 2,595,347 2,340,905
Investments 7 255,324 236,986
Cash at bank 641,216 761,297
3,491,887 3,339,188
CREDITORS
Amounts falling due within one year 8 880,855 907,433
NET CURRENT ASSETS 2,611,032 2,431,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,432,572

5,218,295

PROVISIONS FOR LIABILITIES 174,593 165,843
NET ASSETS 5,257,979 5,052,452

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 1,459,269 1,433,019
Retained earnings 3,798,610 3,619,333
5,257,979 5,052,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





A R Wolfson - Director


GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gander Equities Limited is a private company, limited by shares, registered in Scotland. The registered office is 5th Floor, 19 Waterloo Street, Glasgow, G2 6BQ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Preparation of consolidated financial statements
The financial statements contain information about Gander Equities Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Turnover
Turnover represents the total invoice value, excluding value added tax, of rents receivable during the year. The company's policy is to recognise income in accordance with lease agreements.

Investment property
All of the company's properties are held for long term investment. Investment properties are accounted for as follows:-

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.


GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Fixed asset investments
All investments in subsidiaries are stated at cost less any impairment losses.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to and from related parties and investments, and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transactions price, (adjusted for transaction costs, except in the initial measurement, where the investment thereafter is measured at fair value in profit or loss). Such assets are subsequently carried at fair value, being quoted market price in an active market, and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand and cash held at banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 141,540
NET BOOK VALUE
At 30 June 2024 141,540
At 30 June 2023 141,540

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 2,645,000
Revaluations 35,000
At 30 June 2024 2,680,000
NET BOOK VALUE
At 30 June 2024 2,680,000
At 30 June 2023 2,645,000

The company's investment properties are held for use under operating leases. The fair value of the investment property at 30 June 2024 has been arrived at on the basis of a valuation carried out at that date by the company directors. The valuation was arrived at by reference to a consideration of the current state of the market for the type of investment property and the terms and duration of the leases held.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,942 500
Amount owed by parent company 2,580,405 2,340,405
2,595,347 2,340,905

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 255,324 236,986

GANDER EQUITIES LIMITED (REGISTERED NUMBER: SC038884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 744,263 744,263
Taxation and social security 135 34,760
Other creditors 136,457 128,410
880,855 907,433

9. RELATED PARTY DISCLOSURES

Gander Equities Limited has granted the Royal Bank of Scotland Plc an unlimited guarantee in respect of sums due to the bank by Kestrel Equities Limited and Kingfisher Equities Limited. Kestrel Equities Limited and Kingfisher Equities Limited have granted the Royal Bank of Scotland Plc an unlimited guarantee in respect of sums due to the bank by Gander Equities Limited. Kestrel Equities Limited is the parent company of Gander Equities Limited and Kingfisher Equities Limited is a company controlled by a director of Gander Equities Limited.

At the balance sheet date, the company was owed £2,580,405 (2023 - £2,340,405) from Kestrel Equities Limited. The amount is included in debtors and is unsecured, interest free and has no fixed repayment terms.

At the balance sheet date, the company owed £744,263 (2023 - £744,263) to subsidiary undertakings. This amount is included in creditors and is unsecured, interest free and has no fixed repayment terms.

10. PARENT UNDERTAKING

The parent undertaking of the company is Kestrel Equities Limited. The registered office of Kestrel Equities Limited is 5th Floor, 19 Waterloo Street, Glasgow, G2 6BQ.