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Registration number: 00287985

Gosheron Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Gosheron Estates Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Gosheron Estates Limited

Company Information

Directors

R Quinton

Mrs J A Gordon

W J Quinton

Mrs E F St.Clair

Registered office

163 Herne Hill
London
SE24 9LR

Accountants

Innovi Advisors Ltd
Chartered Certified Accountants163 Herne Hill
London
SE24 9LR

 

Gosheron Estates Limited

(Registration number: 00287985)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,516

24,589

Investment property

5

700,000

700,000

Other financial assets

6

302,996

254,188

 

1,021,512

978,777

Current assets

 

Debtors

7

22,506

23,878

Investments

8

322,652

312,507

Cash at bank and in hand

 

214,583

209,860

 

559,741

546,245

Creditors: Amounts falling due within one year

9

(7,785)

(5,374)

Net current assets

 

551,956

540,871

Total assets less current liabilities

 

1,573,468

1,519,648

Provisions for liabilities

(99,148)

(66,068)

Net assets

 

1,474,320

1,453,580

Capital and reserves

 

Called up share capital

60

60

Other reserves

540,659

540,280

Retained earnings

933,601

913,240

Shareholders' funds

 

1,474,320

1,453,580

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Gosheron Estates Limited

(Registration number: 00287985)
Statement of Financial Position as at 31 October 2024 (continued)

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

R Quinton
Director

   
     
 

Gosheron Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
163 Herne Hill
London
SE24 9LR
England

The principal place of business is:
4 Sally Port
St Marys
Isles of Scilly
TR21 0JE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Departures from Companies Act requirements

The Companies Act 2006 requires that Fixed Assets are depreciated over their useful economic lives, however,in the case of Investment Properties the Financial Reporting Standard number 102 states that this accounting treatment would not show a true and fair view and that Investment Properties should be shown at their market value. Accordingly, depreciation has not been charged.

Revenue recognition

The Company's turnover is the amount receivable in the year for furnished holiday lettings.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gosheron Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Investments

Listed investments are shown at market value.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Gosheron Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 November 2023

59,229

59,229

Additions

90

90

At 31 October 2024

59,319

59,319

Depreciation

At 1 November 2023

34,640

34,640

Charge for the year

6,163

6,163

At 31 October 2024

40,803

40,803

Carrying amount

At 31 October 2024

18,516

18,516

At 31 October 2023

24,589

24,589

5

Investment properties

2024
£

At 1 November

700,000

At 31 October 2022

700,000

If investment property had not been revalued it would have been included at historical cost of £90,277 (2023 : £90,277) with aggregate depreciation of £33,681 (2023 : £32,705).

Investment property was valued on an open market basis in May 2022 by Sibleys Chartered Surveyors.

 

Gosheron Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Investments

Listed investments
£

Total
£

Non current

Cost or valuation

At 1 November 2023

254,188

254,188

Fair value adjustments

38,412

38,412

Additions

127,889

127,889

Disposals

(117,493)

(117,493)

At 31 October 2024

302,996

302,996

Carrying amount

At 31 October 2024

302,996

302,996

7

Debtors

Current

2024
£

2023
£

Trade debtors

2,421

-

Prepayments

11,837

11,442

Other debtors

8,248

12,436

 

22,506

23,878

8

Current asset investments

2024
£

2023
£

Other investments

322,652

312,507

 

Gosheron Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,457

29

Accruals and deferred income

3,047

2,905

Other creditors

2,281

2,440

7,785

5,374