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Company Registration No. 09720849 (England and Wales)
Gidge Newton Property Limited Unaudited financial statements for the year ended 31 August 2025
Gidge Newton Property Limited Statement of financial position as at 31 August 2025
2025
2024
Notes
£
£
Current assets
Inventories
1,052,978
981,205
Debtors
5
1,479
2,935
Cash at bank and in hand
77,779
119,944
1,132,236
1,104,084
Creditors: amounts falling due within one year
6
(1,447)
2,327
Net current assets
1,130,789
1,106,411
Total assets less current liabilities
1,130,789
1,106,411
Creditors: amounts falling due after more than one year
7
(1,663,272)
(1,530,584)
Net liabilities
(532,483)
(424,173)
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
(532,583)
(424,273)
Shareholders' funds
(532,483)
(424,173)
For the year ending 31 August 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 14 May 2026 and were signed on its behalf by
Mr G B Newell Director Company Registration No. 09720849
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Gidge Newton Property Limited Notes to the Accounts for the year ended 31 August 2025
1
Statutory information
Gidge Newton Property Limited is a private company, limited by shares, registered in England and Wales, registration number 09720849. The registered office is 1 Merchants Row, Caledonian Road, Bristol, BS1 6JN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
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.
Accounting convention
The accounts have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in the accounts are rounded to the nearest £.
Going concern
The accounts are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. There is no intention to withdraw loans made by the directors.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, excluding discounts, rebates, value added tax and other sales related 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 initially measured at cost and subsequently measured at cost or revaluation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their their estimated useful lives on the following basis:
Plant & machinery
5 year straight line
Fixtures & fittings
5 year straight line
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.
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Gidge Newton Property Limited Notes to the Accounts for the year ended 31 August 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.
Current tax
The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income and expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 September 2024
599
At 31 August 2025
599
Depreciation
At 1 September 2024
599
At 31 August 2025
599
Net book value
At 31 August 2025
-
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
398
1,837
Accrued income and prepayments
1,081
1,098
1,479
2,935
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Gidge Newton Property Limited Notes to the Accounts for the year ended 31 August 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,447
(7,757)
Taxes and social security
-
5,430
1,447
(2,327)
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loans from directors
1,110,237
1,077,613
Accruals
553,035
452,971
1,663,272
1,530,584
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Loans to directors
The directors are owed the sum of £1,110,237 at the date of these accounts (2024 - £1,077,613). Interest is charged on this loan and is repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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