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Gwyn Properties Ltd

Financial Statements for the Year Ended 30 September 2024






Gwyn Properties Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S R John
G John





REGISTERED OFFICE: 51 Conway Road
Cardiff
CF11 9NU





REGISTERED NUMBER: 07190736 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gwyn Properties Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gwyn Properties Ltd for the year ended 30 September 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Gwyn Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gwyn Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Gwyn Properties Ltd, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gwyn Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gwyn Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gwyn Properties Ltd. You consider that Gwyn Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gwyn Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


24 June 2025

Gwyn Properties Ltd (Registered number: 07190736)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 2,385,000 2,385,000

CURRENT ASSETS
Debtors 4 4,703 1,703
Cash at bank 32,819 146,389
37,522 148,092
CREDITORS
Amounts falling due within one year 5 1,220,270 1,367,310
NET CURRENT LIABILITIES (1,182,748 ) (1,219,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,252

1,165,782

PROVISIONS FOR LIABILITIES 168,715 168,715
NET ASSETS 1,033,537 997,067

CAPITAL AND RESERVES
Called up share capital 4 4
Non-distributable reserve 749,713 749,713
Retained earnings 283,820 247,350
SHAREHOLDERS' FUNDS 1,033,537 997,067

Gwyn Properties Ltd (Registered number: 07190736)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





S R John - Director


Gwyn Properties Ltd (Registered number: 07190736)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. 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 the invoiced value of rents received by the company.

Investment property
The company's properties are held for long term investments. The company has revalued the properties at open market value in accordance with current UK GAAP.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Gwyn Properties Ltd (Registered number: 07190736)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 2,385,000
NET BOOK VALUE
At 30 September 2024 2,385,000
At 30 September 2023 2,385,000

The properties were reassessed in the year by the directors with the assistance of their professional property advisors and in their opinion the value currently held is a fair reflection of their open market value.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 611,976
Valuation in 2016 (1,436 )
Valuation in 2014 312,997
Cost 1,461,463
2,385,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,950 950
Other debtors & prepayments 753 753
4,703 1,703

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxes & social security costs 16,700 16,083
Other creditors & accruals 1,203,570 1,351,227
1,220,270 1,367,310