REGISTERED NUMBER: 11422252 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st December 2024

for

M J Gurney Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J Gurney

SECRETARY:

Mrs P Gurney

REGISTERED OFFICE:

Kirby House

Kirby Hill

Boroughbridge

York

YO51 9DR

REGISTERED NUMBER:

11422252 (England and Wales)

ACCOUNTANTS:

F E Metcalfe & Co Limited

Chartered Accountants

4 Old Market Place

Ripon

North Yorkshire

HG4 1EQ

FIXED ASSETS

Tangible assets

4

970

1,587

CURRENT ASSETS

Stocks

788,445

740,860

Debtors

5

65,886

30,574

Cash at bank

27,891

46,120

882,222

817,554

CREDITORS

Amounts falling due within one year

6

923,394

768,031

NET CURRENT (LIABILITIES)/ASSETS

(41,172

)

49,523

TOTAL ASSETS LESS CURRENT LIABILITIES

(40,202

)

51,110

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(40,302

)

51,010

SHAREHOLDERS' FUNDS

(40,202

)

51,110

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th September 2025 and were signed by:

M J Gurney - Director

1.	STATUTORY INFORMATION

M J Gurney 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.

Going Concern

These financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet all its obligations as and when they fall due for the foreseeable future. The director has undertaken an assessment of the position and the funding available during the development and has no reason to believe that this will not be the case. Therefore he considers it appropriate to adopt the going concern basis for these financial statements.

Turnover

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

Revenue from the sale of residential properties is recognised at legal completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost, less estimated residual value of each asset, over its estimated useful life as follows:-

Plant and machinery -

20% reducing balance

Motor vehicles -

20% straight line

Computer equipment -

33% straight line

Stocks

Stock is valued at the lower of cost and net realisable value.

Land held for development, including land in the course of development, is held at cost which includes direct costs of purchase and development.

Cost of construction work in progress comprises costs incurred under construction contracts, direct labour and direct materials and those overhead costs that have been incurred in bringing the inventories to their present location and condition. Overhead costs include roads and other infrastructure costs required for a site and local contributions and physical works required under planning permissions granted for developments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

5,551

DEPRECIATION

At 1st January 2024

3,964

Charge for year

617

At 31st December 2024

4,581

NET BOOK VALUE

At 31st December 2024

970

At 31st December 2023

1,587

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

9,642

6,000

Other debtors

32,523

3,773

Deferred tax

22,000

12,555

VAT

919

7,467

Prepayments and accrued income

802

779

65,886

30,574

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

8,458

4,217

Other creditors

914,936

763,814

923,394

768,031

Other creditors includes accruals and deferred income of £65,166 (2023: £57,569).

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100