G & L Homes Limited 07935963 false 2024-08-01 2025-07-31 2025-07-31 The principal activity of the company is house builders. Digita Accounts Production Advanced 6.30.9574.0 true 07935963 2024-08-01 2025-07-31 07935963 2025-07-31 07935963 bus:OrdinaryShareClass1 2025-07-31 07935963 bus:OrdinaryShareClass2 2025-07-31 07935963 bus:OrdinaryShareClass3 2025-07-31 07935963 core:CurrentFinancialInstruments 2025-07-31 07935963 core:CurrentFinancialInstruments core:WithinOneYear 2025-07-31 07935963 core:Non-currentFinancialInstruments core:AfterOneYear 2025-07-31 07935963 core:FurnitureFittings 2025-07-31 07935963 bus:SmallEntities 2024-08-01 2025-07-31 07935963 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-07-31 07935963 bus:FilletedAccounts 2024-08-01 2025-07-31 07935963 bus:SmallCompaniesRegimeForAccounts 2024-08-01 2025-07-31 07935963 bus:RegisteredOffice 2024-08-01 2025-07-31 07935963 bus:Director2 2024-08-01 2025-07-31 07935963 bus:Director3 2024-08-01 2025-07-31 07935963 bus:OrdinaryShareClass1 2024-08-01 2025-07-31 07935963 bus:OrdinaryShareClass2 2024-08-01 2025-07-31 07935963 bus:OrdinaryShareClass3 2024-08-01 2025-07-31 07935963 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 07935963 bus:Agent1 2024-08-01 2025-07-31 07935963 core:FurnitureFittings 2024-08-01 2025-07-31 07935963 core:PlantMachinery 2024-08-01 2025-07-31 07935963 core:Vehicles 2024-08-01 2025-07-31 07935963 core:OtherRelatedParties 2024-08-01 2025-07-31 07935963 countries:EnglandWales 2024-08-01 2025-07-31 07935963 2024-07-31 07935963 core:FurnitureFittings 2024-07-31 07935963 2023-08-01 2024-07-31 07935963 2024-07-31 07935963 bus:OrdinaryShareClass1 2024-07-31 07935963 bus:OrdinaryShareClass2 2024-07-31 07935963 bus:OrdinaryShareClass3 2024-07-31 07935963 core:CurrentFinancialInstruments 2024-07-31 07935963 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07935963 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 07935963 core:FurnitureFittings 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07935963

G & L Homes Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

G & L Homes Limited

Contents

Company Information | 1
Statement of financial position | 2
Notes to the Unaudited Financial Statements | 3 to 8

G & L Homes Limited

Company Information

Directors | G Mallott LA Rust

Registered office | 19 King Street King's Lynn Norfolk PE30 1HB

Accountants | Hayhow & Co Chartered Certified Accountants & Business Advisers19 King Street King's Lynn Norfolk PE30 1HB

G & L Homes Limited

(Registration number: 07935963)
Statement of financial position as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 427 | 569
Current assets |  |  |
Stocks | 5 | 583,233 | 512,578
Debtors | 6 | 9,966 | 7,776
Cash at bank and in hand |  | 19,160 | 44,885
|  | 612,359 | 565,239
Creditors: Amounts falling due within one year | 7 | (266,878) | (203,782)
Net current assets |  | 345,481 | 361,457
Total assets less current liabilities |  | 345,908 | 362,026
Creditors: Amounts falling due after more than one year | 7 | (200,000) | (200,000)
Net assets |  | 145,908 | 162,026
Capital and reserves |  |  |
Called up share capital | 8 | 1,000 | 1,000
Retained earnings |  | 144,908 | 161,026
Shareholders' funds |  | 145,908 | 162,026

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 10 February 2026 and signed on its behalf by:

......................................... LA Rust Director

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 10 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor Vehicles | 25% Reducing balance
Furniture & Fittings | 25% Reducing balance
Plant & Machinery | 15% Reducing balance

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 August 2024 | 3,200 | 3,200
At 31 July 2025 | 3,200 | 3,200
Depreciation
At 1 August 2024 | 2,631 | 2,631
Charge for the year | 142 | 142
At 31 July 2025 | 2,773 | 2,773
Carrying amount
At 31 July 2025 | 427 | 427
At 31 July 2024 | 569 | 569

5 | Stocks

| 2025 £ | 2024 £
Work in progress | 583,233 | 512,578

6 | Debtors

| 2025 £ | 2024 £
Prepayments | 9,966 | 6,246
Other debtors | - | 1,530
| 9,966 | 7,776

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 247,460 | 197,460
Trade creditors |  | 16,501 | 1,306
Amounts due to related parties | 9 | 937 | 426
Social security and other taxes |  | 1,027 | 3,359
Accruals |  | 953 | 1,231
|  | 266,878 | 203,782
Due after one year |  |  |
Loans and borrowings |  | 200,000 | 200,000

Creditors include a secure loan, which is secured against the properties currently being built £247,460 (2024: £197,460).

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 250 | 250 | 250 | 250
Ordinary B shares of £1 each | 500 | 500 | 500 | 500
Ordinary C shares of £1 each | 250 | 250 | 250 | 250
| 1,000 | 1,000 | 1,000 | 1,000

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

G & L Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

9 | Related party transactions

Summary of transactions with other related parties

The loan received from a directors family member is still outstanding at the year end £200,000.