Registration number: 07045551

Godfrey Investment Group Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

Godfrey Investment Group Limited

Company Information

Directors

R F Comer M Fisher AJ Godfrey P W Godfrey WM MacDonald N L Stennett

Registered office

72b St Georges Road Brighton BN2 1EF

Accountants

Chisnall Comer Ismail & Co Chartered AccountantsMaria House 35 Millers Road Brighton BN1 5NP

Godfrey Investment Group Limited

(Registration number: 07045551)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	15,882	22,521
Investment property	5	4,725,325	4,785,755
Investments	6	16,722,800	15,302,809
		21,464,007	20,111,085
Current assets
Stocks	7	6,317,859	6,074,845
Debtors	8	240,954	631,848
Cash at bank and in hand		24,352	47,362
		6,583,165	6,754,055
Creditors: Amounts falling due within one year	9	(2,662,347)	(2,799,322)
Net current assets		3,920,818	3,954,733
Total assets less current liabilities		25,384,825	24,065,818
Creditors: Amounts falling due after more than one year	9	(7,005,832)	(6,015,833)
Provisions for liabilities	10	(482,035)	(499,716)
Net assets		17,896,958	17,550,269
Capital and reserves
Called up share capital	13	100	100
Other reserves		17,597,213	15,452,476
Retained earnings		299,645	2,097,693
Shareholders' funds		17,896,958	17,550,269

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Godfrey Investment Group Limited

(Registration number: 07045551)
Balance Sheet as at 31 October 2024

Approved and authorised by the Board on 4 September 2025 and signed on its behalf by:



 

.........................................

P W Godfrey

Director

Godfrey Investment Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
72b St Georges Road
Brighton
BN2 1EF

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for property rental, sale of development properties, lettings agent commissions and dividends. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

Godfrey Investment Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, Fixtures & Fittings	Reducing Balance 25%
Motor Vehicles	Reducing Balance 25%
Office Equipment	Straight Line 33%
Plant & Machinery	Reducing Balance 25%

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Godfrey Investment Group Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Non Distributable Reserve

The aggregate fair value adjustments relating to movements in the value of the company's investment property and other financial assets are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non- distributable reserve.

On disposal of an investment the aggregate fair value adjustment is transferred back to the profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

Investment Property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Other financial assets

Other financial assets are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided an these gains at the rate expected to apply when the asset is sold.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

Godfrey Investment Group Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 November 2023	106,713	25,894	2,430	135,037
At 31 October 2024	106,713	25,894	2,430	135,037
Depreciation
At 1 November 2023	94,954	15,420	2,142	112,516
Charge for the year	3,948	2,619	72	6,639
At 31 October 2024	98,902	18,039	2,214	119,155
Carrying amount
At 31 October 2024	7,811	7,855	216	15,882
At 31 October 2023	11,759	10,474	288	22,521

5	Investment properties

	2024 £
At 1 November	4,785,755
Additions	3,654
Fair value adjustments	(64,084)
At 31 October	4,725,325

Investment property comprises residential property and is stated at fair value. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The historic cost of investment property is £2,672,748 (2023: £2,669,094)

6	Investments

	2024 £	2023 £
Investments in subsidiaries	100	100
Other investments	16,722,700	15,302,709
	16,722,800	15,302,809

Godfrey Investment Group Limited

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