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Company Registration No. 14088560 (England and Wales)
Gaiton Developments Limited Unaudited accounts for the year ended 31 May 2025
Gaiton Developments Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Gaiton Developments Limited Company Information for the year ended 31 May 2025
Directors
M A Sills G I Sills B J A Sills
Company Number
14088560 (England and Wales)
Registered Office
16 Tumblewood Road Banstead Surrey SM7 1DX England
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Gaiton Developments Limited Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
11,555
17,256
Current assets
Cash at bank and in hand
34
4,304
Creditors: amounts falling due within one year
5
(21,536)
(21,472)
Net current liabilities
(21,502)
(17,168)
Net (liabilities)/assets
(9,947)
88
Capital and reserves
Called up share capital
3
3
Profit and loss account
(9,950)
85
Shareholders' funds
(9,947)
88
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by
M A Sills Director Company Registration No. 14088560
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Gaiton Developments Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Gaiton Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 14088560. The registered office is 16 Tumblewood Road, Banstead, Surrey, SM7 1DX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Per annum on a reducing balance basis
Motor vehicles
25% Per annum on a straight line basis
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets by £9,947. The company continues to trade and had the financial support of the director. In these circumstances, the financial statements have been prepared on the going concern basis.
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Gaiton Developments Limited Notes to the Accounts for the year ended 31 May 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 June 2024
812
22,196
23,008
At 31 May 2025
812
22,196
23,008
Depreciation
At 1 June 2024
203
5,549
5,752
Charge for the year
152
5,549
5,701
At 31 May 2025
355
11,098
11,453
Net book value
At 31 May 2025
457
11,098
11,555
At 31 May 2024
609
16,647
17,256
5
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
1,500
2,000
Loans from directors
20,036
19,472
21,536
21,472
6
Transactions with related parties
Mr. M.A. Sills, Mrs. G.I. Sills and Mr. B.J.A Sills are the directors of the company and together own 100% of the issued share capital. At the balance sheet date, £14,921 (2024 - £16,260) was owed to Mr. M.A. Sills, £3,212 (2024 - £2,746) was owed to Mrs. G.I. Sills and £1,903 (2024 - £466) was owed to Mr. B.J.A Sills by the company.
7
Average number of employees
During the year the average number of employees was 3 (2024: 3).
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