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REGISTERED NUMBER: 12554607 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 30 April 2024

for

GY & Ross Limited

GY & Ross Limited (Registered number: 12554607)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GY & Ross Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M I Roberts
E S Roberts





REGISTERED OFFICE: Apartment 39
George Street Trading House
George Street
Nottingham
Nottinghamshire
NG1 3BU





REGISTERED NUMBER: 12554607 (England and Wales)





ACCOUNTANTS: Brockhurst Davies Limited
11 The Office Village
North Road
Loughborough
Leicestershire
LE11 1QJ

GY & Ross Limited (Registered number: 12554607)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - 460
Investment property 5 794,714 793,202
794,714 793,662

CURRENT ASSETS
Cash at bank 138,528 5,695

CREDITORS
Amounts falling due within one year 375,558 371,470
NET CURRENT LIABILITIES (237,030 ) (365,775 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

557,684

427,887

CREDITORS
Amounts falling due after more than one year 6 (526,347 ) (400,195 )

PROVISIONS FOR LIABILITIES (7,259 ) -
NET ASSETS 24,078 27,692

CAPITAL AND RESERVES
Called up share capital 14 14
Fair value reserve 21,779 29,038
Retained earnings 2,285 (1,360 )
24,078 27,692

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

GY & Ross Limited (Registered number: 12554607)

Abridged Balance Sheet - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:




M I Roberts - Director



E S Roberts - Director


GY & Ross Limited (Registered number: 12554607)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

GY & Ross Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenses. Subsequently the investment property is shown at fair value. Gains or losses are recognised in the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Depreciation is not provided on investment properties. This treatment may be regarded as a departure from the requirements of the Companies Act. However, as these properties are held as an investment, the directors consider that systematic annual depreciation would be inappropriate. The accounting policy is therefore necessary for the accounts to give a true and fair view.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

GY & Ross Limited (Registered number: 12554607)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 May 2023
and 30 April 2024 1,840
DEPRECIATION
At 1 May 2023 1,380
Charge for year 460
At 30 April 2024 1,840
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 460

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2023 793,202
Additions 1,512
At 30 April 2024 794,714
NET BOOK VALUE
At 30 April 2024 794,714
At 30 April 2023 793,202

GY & Ross Limited (Registered number: 12554607)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£
Valuation in 2022 320,671
Valuation in 2023 472,531
Valuation in 2024 1,512
794,714

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£ £
Repayable by instalments
Other loans more 5yrs instal 526,347 400,195

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other loans 526,347 400,195

Mortgages are interest only and are secured upon the investment properties.