| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| G & B Property Developments Ltd |
| REGISTERED NUMBER: |
| 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: |
| Registered office: |
| Registered number: |
| Accountants: |
| 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 |
| Investment property | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| 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 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| Reclassification/transfer | 156,747 |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| 6. | Debtors: amounts falling due within one year |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 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 |
| Other creditors |
| 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 |
| 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. |