Great West Securities Limited - Accounts to registrar (filleted)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GREAT WEST SECURITIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Vokins

Mrs A Vokins

SECRETARY:

Mrs A Vokins

REGISTERED OFFICE:

Chancellors House

3 Brampton Lane

London

NW4 4AB

REGISTERED NUMBER:

03275255 (England and Wales)

ACCOUNTANTS:

Zenith Advisory

Chartered Accountants

Chancellors House

3 Brampton Lane

Hendon

London

NW4 4AB

FIXED ASSETS

Tangible assets

4

3,531,975

3,378,132

CURRENT ASSETS

Debtors

5

49,242

28,575

Cash at bank

102,217

78,191

151,459

106,766

CREDITORS

Amounts falling due within one year

6

213,832

195,491

NET CURRENT LIABILITIES

(62,373

)

(88,725

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,469,602

3,289,407

CREDITORS

Amounts falling due after more than one year

7

(549,459

)

(634,695

)

PROVISIONS FOR LIABILITIES

(239,750

)

(201,000

)

NET ASSETS

2,680,393

2,453,712

CAPITAL AND RESERVES

Called up share capital

150

Revaluation reserve

9

1,232,408

1,116,158

Retained earnings

1,447,835

1,337,404

2,680,393

2,453,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

J M Vokins - Director

1.	STATUTORY INFORMATION

Great West Securities Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

2% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Long

and

property

leasehold

fittings

Totals

£

COST OR VALUATION

At 1 January 2024

2,305,000

1,015,000

85,738

3,405,738

Revaluations

120,000

35,000

-

155,000

At 31 December 2024

2,425,000

1,050,000

85,738

3,560,738

DEPRECIATION

At 1 January 2024

-

27,606

Charge for year

-

1,157

At 31 December 2024

-

28,763

NET BOOK VALUE

At 31 December 2024

2,425,000

1,050,000

56,975

3,531,975

At 31 December 2023

2,305,000

1,015,000

58,132

3,378,132

Included in cost or valuation of land and buildings is freehold land of £ 1,200,000 (2023 - £ 1,200,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Long

and

property

leasehold

fittings

Totals

£

Valuation in 2024

2,425,000

1,050,000

85,738

3,560,738

If Freehold / leasehold property had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

2,002,853

Value of land in freehold land and buildings

1,200,000

Freehold / leasehold property were valued on an open market basis on 31 December 2024 by the directors .

5.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

26,899

25,969

Amounts receivable in respect of finance leases

2,422

-

Prepayments and accrued income

-

2,606

29,321

28,575

2024

2023

£

Amounts falling due after more than one year:

Amounts receivable in respect of finance leases

19,921

-

Aggregate amounts

49,242

28,575

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

82,389

74,298

Trade creditors

7,772

3,977

Corporation tax

35,851

30,381

Social security and other taxes

3,133

5,416

Other creditors

32,617

Directors' current accounts

25,603

23,085

Accruals and deferred income

26,467

25,717

213,832

195,491

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-2 years

78,281

74,865

Bank loans - 2-5 years

226,725

207,517

Bank loans more 5 yr by instal

244,453

352,313

549,459

634,695

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

244,453

352,313

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

631,848

708,993

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

1,116,158

Revaluation in year

116,250

At 31 December 2024

1,232,408

10.	RELATED PARTY DISCLOSURES

During the year, the company entered into an agreement to lease an asset to a director. This agreement constitutes a finance lease under FRS 102, and is on an arm's length basis.