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REGISTERED NUMBER: 09966517 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

G & B Property Developments Ltd

G & B Property Developments Ltd (Registered number: 09966517)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G & B Property Developments Ltd

Company Information
for the Year Ended 31 December 2024







Directors: B Commins
D E Commins





Registered office: 103 Mold Road
Connah's Quay
Deeside
Flintshire
CH5 4QW





Registered number: 09966517 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

G & B Property Developments Ltd (Registered number: 09966517)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 442 157,336
Investment property 5 156,747 -
157,189 157,336

Current assets
Stocks 703,155 -
Debtors 6 10,000 -
Cash at bank 25,953 395,202
739,108 395,202
Creditors
Amounts falling due within one year 7 774,955 69,188
Net current (liabilities)/assets (35,847 ) 326,014
Total assets less current liabilities 121,342 483,350

Creditors
Amounts falling due after more than
one year

8

(148,993

)

(511,993

)

Provisions for liabilities (112 ) (112 )
Net liabilities (27,763 ) (28,755 )

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings (28,763 ) (29,755 )
(27,763 ) (28,755 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

G & B Property Developments Ltd (Registered number: 09966517)

Statement of Financial Position - continued
31 December 2024


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 16 April 2025 and were signed on its behalf by:





B Commins - Director


G & B Property Developments Ltd (Registered number: 09966517)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. Statutory information

G & B Property Developments Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


G & B Property Developments Ltd (Registered number: 09966517)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. Accounting policies - continued
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.

Going concern
These financial statements are prepared on the going concern basis, on the assumption that the company's directors and other lenders will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 December 2024.

3. Employees and directors

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

G & B Property Developments Ltd (Registered number: 09966517)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. Tangible fixed assets
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1 January 2024 156,747 2,449 159,196
Reclassification/transfer (156,747 ) - (156,747 )
At 31 December 2024 - 2,449 2,449
Depreciation
At 1 January 2024 - 1,860 1,860
Charge for year - 147 147
At 31 December 2024 - 2,007 2,007
Net book value
At 31 December 2024 - 442 442
At 31 December 2023 156,747 589 157,336

5. Investment property
Total
£   
Fair value
Reclassification/transfer 156,747
At 31 December 2024 156,747
Net book value
At 31 December 2024 156,747

6. Debtors: amounts falling due within one year
31/12/24 31/12/23
£    £   
Other debtors 10,000 -

7. Creditors: amounts falling due within one year
31/12/24 31/12/23
£    £   
Trade creditors 90,592 -
Other creditors 684,363 69,188
774,955 69,188

G & B Property Developments Ltd (Registered number: 09966517)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. Creditors: amounts falling due after more than one year
31/12/24 31/12/23
£    £   
Bank loans 111,993 111,993
Other creditors 37,000 400,000
148,993 511,993

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 111,993 -

9. Secured debts

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Bank loans 111,993 -

Bank loans are secured on the company's investment property.

10. Related party disclosures

The directors have made loans to the company. The balance on these loans at 31 December 2024 was £282,964 (2023: £31,460). The loans are interest free, unsecured and repayable on demand.