ACCOUNTS - Final Accounts preparation

Cost or valuation of investment properties at the statement of financial position date is represented by:

Registered number: 13707517

G ESTATES LIMITED

AUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

G ESTATES LIMITED

REGISTERED NUMBER: 13707517

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investment property	5		12,505,110		-
			12,505,110		-
Current assets
Debtors		219,094		1
Cash at bank and in hand	6	381,650		-
		600,744		1
Creditors: amounts falling due within one year	7	(10,457,852)		-
Net current (liabilities)/assets			(9,857,108)		1
Total assets less current liabilities			2,648,002		1

Net assets			2,648,002		1

Capital and reserves
Called up share capital	1	1
Profit and loss account	2,648,001	-
	2,648,002	1

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2025.

N J C Griffith

Director

The notes on pages 2 to 6 form part of these financial statements.

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G ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

G Estates Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number is 13707517 and the registered office address is The Warehouse, Wyndham Arcade, St Mary Street, Cardiff, CF10 1FH.

The presentation currency of the financial statements is Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

In preparing the financial statements, the director has considered the current financial position of the company and the likely future cash flows. At the date of signing the audit report, the director has concluded that it is appropriate to prepare the financial statements on a going concern basis. In forming this conclusion the director has considered that the company has reported a profit in the current financial year and is confident the company will remain in a profit making position in the forthcoming financial year and generate sufficient cash flows in order to meet its financial obligations as they fall due.
The director has assessed the risks facing the business from the current economic uncertainty and implemented measures to address these risks.
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

2.3

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following are the significant judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

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G ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Bad debt provision

A specific provision is made against older debtor balances. Additional provisions are made against newer debtor balances where there is evidence to suggest that a balance may not recoverable.

2.5

Revenue Recognition

Turnover represents invoiced rental income and insurance recharge income, excluding value added tax.
Rental income and insurance recharge income is recognised evenly over the period to which it relates.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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G ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3.	Investment property

The company's freehold land and buildings are treated as investment property, as defined by the Financial Reporting Standard 102 Section 1A "Small Entities"; accordingly, they are not depreciated. Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in the income statement. Surpluses or deficits of individual properties are charged to the statement of comprehensive income in the period to which they relate, such amounts are then credited to a separate non-distributable reserve in order to correctly disclose distributable amounts.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)

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G ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	12,505,110
	At 31 December 2024	12,505,110

The 2024 valuations were made by director Mr N J C Griffith, on an open market value for existing use basis.

	Historic cost	12,505,110	-
		12,505,110	-

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G ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	381,650	-
	381,650	-

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	30,612	-
Amounts owed to group undertakings	9,883,173	-
Corporation tax	32,668	-
Other taxation and social security	45,686	-
Other creditors	171,502	-
Accruals and deferred income	294,211	-
	10,457,852	-

8.	Ultimate controlling party

The company is controlled by G Capital Limited.
The ultimate controlling party is Mr N J C Griffith, the director of the company.

9.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 12 September 2025 by James Dobson BSc (Hons) FCA (Senior statutory auditor) on behalf of MHA.

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)

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