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Registration number: 07280482

G G Dewsbury Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

G G Dewsbury Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

G G Dewsbury Limited

(Registration number: 07280482)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,020,000

3,510,000

Investments

5

100

-

 

4,020,100

3,510,000

Current assets

 

Debtors

8

2,782

150,000

Cash at bank and in hand

 

704,622

354,573

 

707,404

504,573

Creditors: Amounts falling due within one year

9

(1,423,795)

(767,099)

Net current liabilities

 

(716,391)

(262,526)

Total assets less current liabilities

 

3,303,709

3,247,474

Provisions for liabilities

(59,342)

-

Net assets

 

3,244,367

3,247,474

Capital and reserves

 

Called up share capital

200

100

Retained earnings

3,244,167

3,247,374

Shareholders' funds

 

3,244,367

3,247,474

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

G G Dewsbury Limited

(Registration number: 07280482)
Balance Sheet as at 31 December 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 June 2025
 

G Gardner
Director

   
     
 

G G Dewsbury Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Upper Broadway House Church Lane
Kingston St Mary
Taunton
Somerset
TA2 8HF

These financial statements were authorised for issue by the director on 20 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

G G Dewsbury Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard 102 - Section 1A, as follows:

No depreciation is provided in respect of investment properties and they are held at fair value. The surplus or deficit on revaluation is transferred to the profit and loss account.

Business combinations

Business combinations are accounted for using the purchase method as per Financial Reporting Standards 102 - Section 19. The consideration for each acquisition is measured at the aggregate of the fair values at the acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the company in exchange for control of the acquired entity, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment of the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

G G Dewsbury Limited

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

 

G G Dewsbury Limited

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

4

Tangible assets

Investment property
£

Total
£

Cost or valuation

At 1 January 2024

3,510,000

3,510,000

Additions

510,000

510,000

At 31 December 2024

4,020,000

4,020,000

Carrying amount

At 31 December 2024

4,020,000

4,020,000

At 31 December 2023

3,510,000

3,510,000

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

-

6

Exceptional items

2024
£

2023
£

Group loans written off

136,353

-

On 30 June 2024, the trade and certain assets of GG FF Limited, a fellow subsidiary, were transferred to GG Dewsbury Limited via an inter-company loan account. The net balance owed to GG FF Limited has subsequently been written off to the profit and loss account as it was no longer payable. No corporation tax liability arises on this loan write off as the loan was between two connected parties.

 

G G Dewsbury Limited

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

7

Business combinations

On 30 June 2024, the company acquired the fixed assets, debtors and liabilties of a fellow subsidiary G G F F Limited. The reason for this restructuring was to rationalise the number of companies that the group operates, to make the business more efficient and obtain savings in administrative expenses. The assets and liabilities acquired were as follows:
 

Fair value
2024
£

Assets and liabilities acquired

Investment property

510,000

Trade debtors

7,200

Director's loan account

(618,116)

Other creditors

(10,167)

Total identifiable assets

(111,083)

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

2,345

-

Amounts owed by related parties

10

-

150,000

Prepayments

 

437

-

 

2,782

150,000

9

Creditors

Due within one year

Note

2024
£

2023
£

 

Trade creditors

 

1,992

1,404

Amounts due to related parties

10

1,339,103

676,918

Social security and other taxes

 

76,350

83,418

Accruals

 

6,350

5,359

 

1,423,795

767,099

 

G G Dewsbury Limited

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

10

Related party transactions

Summary of transactions with other related parties

Companies in which G Gardner is a director and significant shareholder.
 The loans are interest free and repayable on demand.
 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

150,000

150,000

Repaid

(100,000)

(100,000)

Expenses recognised as bad debt

(50,000)

(50,000)

At end of period

-

-

2023

Other related parties
£

Total
£

Advanced

150,000

150,000

At end of period

150,000

150,000

Loans from related parties

2024

Key management
£

Total
£

At start of period

676,918

676,918

Advanced

790,266

790,266

Repaid

(129,476)

(129,476)

At end of period

1,337,708

1,337,708

2023

Key management
£

Total
£

At start of period

702,401

702,401

Repaid

(25,483)

(25,483)

At end of period

676,918

676,918

Terms of loans from related parties

During the year, the director maintained a loan with the company. The loan is interest free and repayable on demand.