COMPANY REGISTRATION NUMBER:
00125275
|
Geerings (Medway) Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Geerings (Medway) Limited |
|
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
5 |
|
390,000 |
390,000 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
89,000 |
|
15,600 |
|
Cash at bank and in hand |
198,358 |
|
239,835 |
|
--------- |
|
--------- |
|
287,358 |
|
255,435 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
53,802 |
|
16,665 |
|
--------- |
|
--------- |
|
Net current assets |
|
233,556 |
238,770 |
|
|
--------- |
--------- |
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Total assets less current liabilities |
|
623,556 |
628,770 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
4,300 |
4,300 |
|
|
--------- |
--------- |
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Net assets |
|
619,256 |
624,470 |
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|
--------- |
--------- |
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|
|
|
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Capital and reserves
|
Called up share capital |
|
100 |
100 |
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Profit and loss account |
|
619,156 |
624,370 |
|
|
--------- |
--------- |
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Shareholders funds |
|
619,256 |
624,470 |
|
|
--------- |
--------- |
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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 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Geerings (Medway) Limited |
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Statement of Financial Position (continued) |
|
31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
4 December 2025
, and are signed on behalf of the board by:
Company registration number:
00125275
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Geerings (Medway) Limited |
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Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cobbs Wood House, Chart Road, Ashford, Kent, TN23 1EP.
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.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
Turnover represents rents receivable from the investment property under the terms of the operating lease. Turnover is included in the profit and loss account on an accruals basis.
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
The investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
The company operates a defined benefit pension scheme for employees. The assets of the scheme are held separately from those of the company. Contributions payable are charged to the profit and loss in the year they are payable.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2024:
2
).
5.
Tangible assets
|
Land and buildings |
|
£ |
|
Valuation |
|
|
At 1 April 2024 and 31 March 2025 |
390,000 |
|
--------- |
|
Depreciation |
|
|
At 1 April 2024 and 31 March 2025 |
– |
|
--------- |
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Carrying amount |
|
|
At 31 March 2025 |
390,000 |
|
--------- |
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At 31 March 2024 |
390,000 |
|
--------- |
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The valuation of the investment property was made as at 31 March 2020 by
W J R Geering
, a Chartered Surveyor and director of the company, on an open market basis. No depreciation is provided in respect of this property. The directors believe this value is a fair representation of the market value of the property. On an historical cost basis this would have been included at an original cost of £116,749.
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
14,000 |
14,000 |
|
Other debtors |
75,000 |
1,600 |
|
-------- |
-------- |
|
89,000 |
15,600 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
36,180 |
180 |
|
Corporation tax |
– |
2,062 |
|
Social security and other taxes |
3,199 |
– |
|
Other creditors |
14,423 |
14,423 |
|
-------- |
-------- |
|
53,802 |
16,665 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Other creditors |
4,300 |
4,300 |
|
------- |
------- |
|
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Included within creditors: amounts falling due after more than one year is an amount of £4,300 10.5% Non-Participating Cumulative Preference Shares (2024: £4,300) payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Related party transactions
At the year end the company was owed £75,000 (2024: £nil) by a company associated by common control.