Company Registration No. 03025956 (England and Wales)
G.E. Developments Ltd
Unaudited accounts
for the year ended 30 August 2024
G.E. Developments Ltd
Unaudited accounts
Contents
G.E. Developments Ltd
Company Information
for the year ended 30 August 2024
Directors
Mr G Easson
Mrs J Easson
Company Number
03025956 (England and Wales)
Registered Office
Brunel Court
122 Fore Street
Saltash
PL12 6JW
Accountants
Blackwell Bate Ltd
Brunel Court
122 Fore Street
Saltash
Cornwall
PL12 6JW
G.E. Developments Ltd
Statement of financial position
as at 30 August 2024
Tangible assets
21,169
24,719
Investment property
3,197,373
3,197,373
Cash at bank and in hand
71,690
-
Creditors: amounts falling due within one year
(165,371)
(211,306)
Net current assets/(liabilities)
71,062
(19,213)
Total assets less current liabilities
3,289,604
3,202,879
Creditors: amounts falling due after more than one year
(2,043,536)
(1,797,089)
Provisions for liabilities
Deferred tax
(81,965)
(97,333)
Net assets
1,164,103
1,308,457
Called up share capital
200
200
Profit and loss account
1,163,903
1,308,257
Shareholders' funds
1,164,103
1,308,457
For the year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by
Mr G Easson
Director
Company Registration No. 03025956
G.E. Developments Ltd
Notes to the Accounts
for the year ended 30 August 2024
G.E. Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 03025956. The registered office is Brunel Court, 122 Fore Street, Saltash, PL12 6JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance method
Fixtures & fittings
15% reducing balance method
Computer equipment
15% reducing balance method
Turnover compromises of rental income. Turnover is recognised when the rent is physically received.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
G.E. Developments Ltd
Notes to the Accounts
for the year ended 30 August 2024
4
Tangible fixed assets
Computer equipment
Fair value at 31 August 2023
3,197,373
At 30 August 2024
3,197,373
Amounts falling due within one year
Other debtors
164,743
192,093
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,211
43,201
Taxes and social security
49,111
63,351
Other creditors
110,049
104,754
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,043,536
1,797,089
G.E. Developments Ltd
Notes to the Accounts
for the year ended 30 August 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
119,078
286,466
285,112
120,432
119,078
286,466
285,112
120,432
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).