0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 16,006,081 1,972,481 14,033,600 14,033,600 16,006,081 xbrli:pure xbrli:shares iso4217:GBP 04991676 2024-01-01 2024-12-31 04991676 2024-12-31 04991676 2023-12-31 04991676 2023-01-01 2023-12-31 04991676 2023-12-31 04991676 2022-12-31 04991676 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04991676 bus:Director2 2024-01-01 2024-12-31 04991676 core:WithinOneYear 2024-12-31 04991676 core:WithinOneYear 2023-12-31 04991676 core:AfterOneYear 2024-12-31 04991676 core:AfterOneYear 2023-12-31 04991676 core:ShareCapital 2024-12-31 04991676 core:ShareCapital 2023-12-31 04991676 core:RetainedEarningsAccumulatedLosses 2024-12-31 04991676 core:RetainedEarningsAccumulatedLosses 2023-12-31 04991676 core:BetweenOneFiveYears 2024-12-31 04991676 core:BetweenOneFiveYears 2023-12-31 04991676 core:MoreThanFiveYears 2024-12-31 04991676 core:MoreThanFiveYears 2023-12-31 04991676 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 04991676 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 04991676 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 04991676 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 04991676 bus:SmallEntities 2024-01-01 2024-12-31 04991676 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04991676 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04991676 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04991676 bus:FullAccounts 2024-01-01 2024-12-31 04991676 bus:OrdinaryShareClass1 2024-12-31 04991676 bus:OrdinaryShareClass1 2023-12-31
COMPANY REGISTRATION NUMBER: 04991676
Gentian (Newcastle) Limited
Filleted Unaudited Financial Statements
31 December 2024
Gentian (Newcastle) Limited
Balance Sheet
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
14,033,600
16,006,081
Current assets
Debtors
7
1,275,310
1,374,488
Cash at bank and in hand
189,430
874,520
------------
------------
1,464,740
2,249,008
Creditors: amounts falling due within one year
8
2,031,230
3,305,340
------------
------------
Net current liabilities
566,490
1,056,332
-------------
-------------
Total assets less current liabilities
13,467,110
14,949,749
Creditors: amounts falling due after more than one year
9
2,900,000
3,400,000
-------------
-------------
Net assets
10,567,110
11,549,749
-------------
-------------
Capital and reserves
Called up share capital
10
1
1
Profit and loss account
11
10,567,109
11,549,748
-------------
-------------
Shareholders funds
10,567,110
11,549,749
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gentian (Newcastle) Limited
Balance Sheet (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
Mr N K Ekins
Director
Company registration number: 04991676
Gentian (Newcastle) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with the provision of FRS 102 Section 1A small entities, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date, except where there is an exemption under FRS 102 Section 29. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Derivatives, including interest rate swaps, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. The net changes in fair value of derivatives are recognised in profit or loss, unless they are included in a hedging arrangement. The derivative financial assets and liabilities are included within assets and liabilities falling due after more than one year.
Leasehold premium
Short leasehold premiums are included in prepayments and amortised over the period of the lease.
4. Average number of employees
During the year the average number of employees was 2 (2023: 2) which consisted of the directors only.
5. Deferred tax
There is a potential deferred tax liability of £2,389,460 (2023: £2,367.903) on the revaluation of the properties which is unprovided in accordance with FRS 102 Section 29.16.
6. Tangible assets
Investment Property
£
Cost or valuation
At 1 January 2024
16,006,081
Investment property fair value adjustment
( 1,972,481)
-------------
At 31 December 2024
14,033,600
-------------
Depreciation
At 1 January 2024 and 31 December 2024
-------------
Carrying amount
At 31 December 2024
14,033,600
-------------
At 31 December 2023
16,006,081
-------------
Leasehold Property was adjusted to fair value by the directors at year end. The directors have appropriate expertise and have valued the properties on the basis of the agreed letting terms.
7. Debtors
2024
2023
£
£
Trade debtors
47,067
63,722
Prepayments and accrued income
1,228,243
1,310,766
------------
------------
1,275,310
1,374,488
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
600,000
700,000
Trade creditors
68,441
55,987
Amounts owed to group undertakings
648,212
1,426,635
Accruals and deferred income
505,335
898,373
Corporation tax
106,619
126,339
Social security and other taxes
102,623
98,006
------------
------------
2,031,230
3,305,340
------------
------------
Barclays Bank Plc holds a debenture over the assets of Gentian (Newcastle) Limited as part of the loan agreement At the year end, the amount outstanding on the loan was £3,500,000.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,900,000
3,400,000
------------
------------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
11. Reserves
Profit and loss account - This reserve includes both distributable and non-distributable reserves.
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
632,462
610,040
Later than 1 year and not later than 5 years
2,696,324
2,604,838
Later than 5 years
11,256,539
11,838,878
-------------
-------------
14,585,325
15,053,756
-------------
-------------
13. Related party transactions
The company is wholly owned subsidiary of Gentian Partnerships Limited and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Gentian Partnerships Limited or other wholly owned subsidiaries within the group.
14. Controlling party
The parent undertaking of Gentian (Newcastle) Limited is Gentian Partnerships Limited, a company incorporated in England and Wales.