Gantley Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10422591

Gantley Developments Limited

Filleted Unaudited Financial Statements

31 October 2024

Gantley Developments Limited

Financial Statements

Year ended 31 October 2024

Contents	Page

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Gantley Developments Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Gantley Developments Limited

Year ended 31 October 2024

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 October 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants

P.O. Box 10901 Birmingham B1 1ZQ

29 July 2025

Gantley Developments Limited

Statement of Financial Position

31 October 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	788,370	710,504

Current assets

Debtors	6	–	26,311
Cash at bank and in hand		13,251	4,376
		--------	--------
		13,251	30,687

Creditors: amounts falling due within one year	7	763,803	702,714
		---------	---------
Net current liabilities		750,552	672,027
		---------	---------
Total assets less current liabilities		37,818	38,477
		--------	--------
Net assets		37,818	38,477
		--------	--------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		37,718	38,377
		--------	--------
Shareholders funds		37,818	38,477
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gantley Developments Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 29 July 2025 , and are signed on behalf of the board by:

Mr J. A. Gantley
Director

Company registration number: 10422591

Gantley Developments Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Kineton Lane, Hockley Heath, Solihull, B94 6RX, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tax on (loss)/profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	–	1,143
	----	-------
Tax on (loss)/profit	–	1,143
	----	-------

Reconciliation of tax expense

The tax assessed on the (loss)/profit on ordinary activities for the year is the same as (2023: the same as) the standard rate of corporation tax in the UK of - % (2023: 19 %).

	2024	2023
	£	£
(Loss)/profit on ordinary activities before taxation	( 659)	6,014
	----	-------
(Loss)/profit on ordinary activities by rate of tax	–	1,143
	----	-------

5. Tangible assets

	Freehold property	Long leasehold property	Total
	£	£	£
Cost
At 1 November 2023	660,278	50,226	710,504
Additions	77,866	–	77,866
	---------	--------	---------
At 31 October 2024	738,144	50,226	788,370
	---------	--------	---------
Depreciation
At 1 November 2023 and 31 October 2024	–	–	–
	---------	--------	---------
Carrying amount
At 31 October 2024	738,144	50,226	788,370
	---------	--------	---------
At 31 October 2023	660,278	50,226	710,504
	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Other debtors	–	26,311
	----	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	297,886	297,886
Trade creditors	–	1,441
Amounts owed to group undertakings and undertakings in which the company has a participating interest	225,124	226,124
Corporation tax	75	1,218
Other creditors - desc in a/cs	150,000	150,000
Other creditors	90,718	26,045
	---------	---------
	763,803	702,714
	---------	---------

8. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Director's advances, credits and guarantees

As at 31 October 2024, other creditors include the following due to the director:- Mr J Gantley £39,718 (2023 - £25,325) The loans are interest free and repayable on demand.