Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| Investments | 5 |
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| 2,845,807 | 2,756,242 | |||
| Current assets | ||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| 709,950 | 690,138 | |||
| Creditors: amounts falling due within one year | 8 | (
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| Net current liabilities | (169,416) | (204,305) | ||
| Total assets less current liabilities | 2,676,391 | 2,551,937 | ||
| Creditors: amounts falling due after more than one year | 9 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Guberno Limited (registered number:
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J J Fabby
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Guberno Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Plant and machinery |
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| Vehicles |
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| Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments are measured at cost less impairment.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Plant and machinery | Vehicles | Office equipment | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 July 2023 |
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| Additions |
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| At 30 June 2024 |
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| Accumulated depreciation | |||||||
| At 01 July 2023 |
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| Charge for the financial year |
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| At 30 June 2024 |
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| Net book value | |||||||
| At 30 June 2024 |
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| At 30 June 2023 |
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| Investment property | |
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| Valuation | |
| As at 01 July 2023 |
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| Fair value movement | 100,000 |
| As at 30 June 2024 |
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The property is included at valuation based on a report prepared by an external agent at 30 June 2024.
| 2024 | 2023 | ||
| £ | £ | ||
| Subsidiary undertakings |
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| Participating interests |
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| 101 | 101 |
Investments in subsidiaries
| 2024 | |
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| Cost | |
| At 01 July 2023 |
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| At 30 June 2024 |
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| Carrying value at 30 June 2024 |
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| Carrying value at 30 June 2023 |
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| Investments in joint ventures | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 July 2023 |
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| At 30 June 2024 |
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| Carrying value at 30 June 2024 |
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| Carrying value at 30 June 2023 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 30.06.2024 |
Ownership 30.06.2023 |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Development of investment property |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Property development |
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Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA | Property development |
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| 2024 | 2023 | ||
| £ | £ | ||
| Work in progress |
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to directors |
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| Accruals and deferred income |
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| Corporation tax |
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| Other taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| Allotted, called-up and fully-paid | |||
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| 100 | 100 |
Included in the profit and loss reserve are fair value gains, net of associated deferred tax, of £1,084,016 that are unrealised and non-distributable (2023 - £1,008,766).
Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Guberno Capital Limited | (318,413) | (361,907) | |
| Tidal Reach Construction Limited | 171,756 | 194,705 | |
| Sandy Lodge Developments | 297,209 | 307,209 |
The company operates an interest free loan account with the subsidiary company. At the year end the amount due to Guberno Capital Limited was £318,413 (2023 - £361,907).
During the year the company provided working capital to Tidal Reach Construction Limited. At the year end the balance owed to the company by Tidal Reach Construction Limited was £171,756 (2023 - £194,705). Interest has been charged at 6%.
During the year the company provided working capital to Sandy Lodge Developments Limited. At the year end the balance owed to the company by Sandy Lodge Developments Limited was £297,209 (2023 - £307,209). Interest has been charged at 6%.
Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Mr J J Fabby | (445,926) | (461,292) |
Mr J J Fabby has advanced working capital to the company by way of an interest free loan. At the year end the balance due to Mr J J Fabby was £445,926 (2023 - £461,292).