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REGISTERED NUMBER: 00293803 (England and Wales)









Financial Statements

for the Year Ended 25 March 2025

for

George Cross Estates (Basingstoke)
Limited

George Cross Estates (Basingstoke)
Limited (Registered number: 00293803)






Contents of the Financial Statements
for the Year Ended 25 March 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


George Cross Estates (Basingstoke)
Limited

Company Information
for the Year Ended 25 March 2025







DIRECTORS: A L Ainslie
M Avierino
A M P Avierino





SECRETARY: A L Ainslie





REGISTERED OFFICE: c/o Parker Cavendish, Suite 301,
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW





REGISTERED NUMBER: 00293803 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301, Stanmore Business
and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

George Cross Estates (Basingstoke)
Limited (Registered number: 00293803)

Statement of Financial Position
25 March 2025

2025 2024
Notes £    £   
FIXED ASSETS
Investment property 4 650,000 650,000

CURRENT ASSETS
Debtors 5 31,570 67,355
Cash at bank 26,075 36,161
57,645 103,516
CREDITORS
Amounts falling due within one year 6 (58,553 ) (86,802 )
NET CURRENT (LIABILITIES)/ASSETS (908 ) 16,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,092

666,714

PROVISIONS FOR LIABILITIES (150,334 ) (150,334 )
NET ASSETS 498,758 516,380

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 43,823 43,823
Other reserves 487,066 487,066
Retained earnings (32,631 ) (15,009 )
SHAREHOLDERS' FUNDS 498,758 516,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 March 2025 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





M Avierino - Director


George Cross Estates (Basingstoke)
Limited (Registered number: 00293803)

Notes to the Financial Statements
for the Year Ended 25 March 2025

1. STATUTORY INFORMATION

George Cross Estates (Basingstoke) 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.

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


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 represents rent receivable, which arise wholly within the United Kingdom. Income is recognised over the period of the tenancy agreement.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 26 March 2024
and 25 March 2025 650,000
NET BOOK VALUE
At 25 March 2025 650,000
At 25 March 2024 650,000

George Cross Estates (Basingstoke)
Limited (Registered number: 00293803)

Notes to the Financial Statements - continued
for the Year Ended 25 March 2025

4. INVESTMENT PROPERTY - continued

Fair value at 25 March 2025 is represented by:
£   
Valuation in 2018 (50,000 )
Valuation in 2017 350,000
Valuation in 2007 198,600
Valuation in 1997 137,500
Cost 13,900
650,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 25 March 2025 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 31,570 67,355

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security - 7,632
Other creditors 58,553 79,170
58,553 86,802

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors at the year end is an amount of £358 (2024 :£20,188 debtor) due to the director M Avierino. During the year, interest of £454 (2024: £188) was charged by the company at a rate of 2.25% whilst the accounts were overdrawn.

There have been no other advances which individually were considered material and no other advances
exceeding £10,000 to the director during the year under review.

8. OTHER RESERVES

Included within other reserves are non-distributable reserves of £485,766 (2024: £485,766) which relates to the revaluation of investment property. Also included in other reserves is a dilapidation reserve of £1,300 (2024: £1,300).