ACCOUNTS - Final Accounts

Registered number: 09564705

WILLIAM GEE DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

WILLIAM GEE DEVELOPMENTS LIMITED

REGISTERED NUMBER: 09564705

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024 as restated
Note		£		£

Fixed assets
Tangible assets	3		383,838		355,373
Investment property	4		414,074		378,570
Current assets
Stocks	5	881,903		801,838
Creditors: amounts falling due within one year	6	(1,681,314)		(1,537,280)
Net current liabilities			(799,411)		(735,442)
Provisions for liabilities
Deferred tax	7	(300,271)		(300,271)
			(300,271)		(300,271)
Net liabilities			(301,770)		(301,770)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(301,771)	(301,771)
	(301,770)	(301,770)

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WILLIAM GEE DEVELOPMENTS LIMITED

REGISTERED NUMBER: 09564705

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Graham

Director

Date: 23 December 2025

The notes on pages 3 to 7 form part of these financial statements.

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WILLIAM GEE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

William Gee Developments Limited is a private company limited by share capital, incorporated in England and Wales, registration number 09564705. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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WILLIAM GEE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is provided on the following basis:

Freehold property

No depreciation charged

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Investment property

Where reliably measurable, investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Where not reliably measurable, investment property is held at cost.

2.5

Stocks

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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WILLIAM GEE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 April 2024 (as previously stated)	733,943
	Prior Year Adjustment	(378,570)
	At 1 April 2024 (as restated)	355,373
	Additions	28,465
	At 31 March 2025	383,838

	Net book value
	At 31 March 2025	383,838
	At 31 March 2024 (as restated)	355,373

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024 (as previously stated)	-
	Prior year adjustment	378,570
	At 1 April 2024 (as restated)	378,570
	Additions at cost	35,504
	At 31 March 2025	414,074

The fair value of investment properties was deemed not reliably measurable in 2025 (2024: not reliably measurable), so investment property is held at cost.

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WILLIAM GEE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.Investment property (continued)

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2025	2024
	£	£

Historic cost

414,074

378,570

5.	Stocks
		2025	2024
		£	£

	Stocks	881,903	801,838

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

	Amounts owed to group undertakings	1,681,314	1,537,280

7.	Deferred taxation

		2025
		£

	At beginning of year	300,271
	At end of year	300,271

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Timing differences regarding property valuation

300,271

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WILLIAM GEE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Prior year adjustments

In the prior period, property was recognised in tangible fixed assets. The property should have been classified as an investment property as the intention was to hold the property for capital appreciation and rental income. There is no effect on net assets or the profit and loss account when undertaking this reclassification. Investment properties were understated by £378,570 and tangible fixed assets were overstated by £378,570.

In the prior period, no deferred tax liability was recognised regarding property transferred from group companies under no gain no loss rules. This understated the deferred tax liability by £300,271 and net assets were reduced by this amount from that previously states.

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