Registration number:
Gosheron Estates Limited
for the Year Ended 31 October 2024
Gosheron Estates Limited
Contents
Company Information |
|
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Gosheron Estates Limited
Company Information
Directors |
R Quinton Mrs J A Gordon W J Quinton Mrs E F St.Clair |
Registered office |
|
Accountants |
|
Gosheron Estates Limited
(Registration number: 00287985)
Statement of Financial Position as at 31 October 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
Other financial assets |
302,996 |
254,188 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Investments |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Gosheron Estates Limited
(Registration number: 00287985)
Statement of Financial Position as at 31 October 2024 (continued)
Approved and authorised by the
|
Gosheron Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
4 Sally Port
St Marys
Isles of Scilly
TR21 0JE
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
Investments
Listed investments are shown at market value.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Gosheron Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)
Tangible assets |
Fixtures and fittings |
Total |
|
Cost or valuation |
||
At 1 November 2023 |
|
|
Additions |
|
|
At 31 October 2024 |
|
|
Depreciation |
||
At 1 November 2023 |
|
|
Charge for the year |
|
|
At 31 October 2024 |
|
|
Carrying amount |
||
At 31 October 2024 |
|
|
At 31 October 2023 |
|
|
Investment properties |
2024 |
|
At 1 November |
|
At 31 October 2022 |
|
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)
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 |
Debtors |
Current |
2024 |
2023 |
Trade debtors |
|
- |
Prepayments |
|
|
Other debtors |
|
|
|
|
Current asset investments |
2024 |
2023 |
|
Other investments |
|
|
Gosheron Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|