Company No:
Contents
| DIRECTORS | H Gandesha |
| N H Gandesha |
| REGISTERED OFFICE | United Kingdom |
| COMPANY NUMBER | 10108523 (England and Wales) |
| ACCOUNTANT | Gravita Essex Limited |
| Treviot House | |
| 186-192 High Road | |
| Ilford | |
| Essex | |
| IG1 1LR | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| Investment property | 4 |
|
|
|
| 2,406,645 | 2,406,643 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 463,015 | 267,974 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (548,429) | (1,001,114) | ||
| Total assets less current liabilities | 1,858,216 | 1,405,529 | ||
| Creditors: amounts falling due after more than one year | 78 | (
|
(
|
|
| Provision for liabilities | (
|
(
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Fair value reserve | 9 |
|
|
|
| Profit and loss account |
|
(
|
||
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Gandesha Estates Limited (registered number:
|
H Gandesha
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Gandesha Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is , United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The balance sheet at the year end recorded net current liabilities.However, the directors believe that sufficient financial resources are available to the company to enable it to continue trading for the foreseeable future. Therefore the financial statements have been prepared on a going concern basis.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Plant and machinery etc. |
|
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 September 2023 |
|
|
|
| Additions |
|
|
|
| At 31 August 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 September 2023 |
|
|
|
| Charge for the financial year |
|
|
|
| At 31 August 2024 |
|
|
|
| Net book value | |||
| At 31 August 2024 | 6,645 | 6,645 | |
| At 31 August 2023 | 6,643 | 6,643 |
| Investment property | |
| £ | |
| Valuation | |
| As at 01 September 2023 |
|
| As at 31 August 2024 |
|
Valuation
Investment properties were valued on fair value basis in September 2023 by independent surveyors and the directors believe the valuation remain the same as at 31 August 2024.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Historic cost | 2,175,705 | 2,175,705 |
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Amounts owed by Group undertakings |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to Group undertakings |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans (secured / repayable by instalments) |
|
|
The following secured debts are included within creditors:
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans | 1,269,745 | 1,296,167 |
The loans are secured on the investment properties held by the company. The directors have also provided personal guarantee for a sum of £156,000
| 2024 | 2023 | ||
| £ | £ | ||
| At 1st September | 168,222 | 190,369 | |
| Property revaluation | 0 | (29,529) | |
| Transfer | 0 | 7,382 | |
| 168,222 | 168,222 |