Company No: 15228397 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mark Andrew Gelsthorpe
	Russell Andrew Gelsthorpe

REGISTERED OFFICE	40 Chestnut Drive Holme-On-Spalding-Moor
	York
	YO43 4HW
	United Kingdom

COMPANY NUMBER

15228397 (England and Wales)

ACCOUNTANT	Ian Walker & Co
	Wellington House
	York
	YO30 4UZ
	United Kingdom

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	22,579		42,856
		22,579		42,856
Current assets
Stocks	4	300		300
Debtors	5	2,112		1,995
Cash at bank and in hand	6	42,993		18,510
		45,405		20,805
Creditors: amounts falling due within one year	7	( 63,296)		( 67,918)
Net current liabilities		(17,891)		(47,113)
Total assets less current liabilities		4,688		(4,257)
Provision for liabilities	8, 9	( 2,859)		0
Net assets/(liabilities)		1,829		( 4,257)
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		1,729		( 4,357 )
Total shareholders' funds/(deficit)		1,829		( 4,257)

For the financial year ending 31 March 2026 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gelsthorpe Development Limited (registered number: 15228397) were approved and authorised for issue by the Board of Directors on 26 May 2026. They were signed on its behalf by:

Russell Andrew Gelsthorpe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gelsthorpe Development Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 Chestnut Drive Holme-On-Spalding-Moor, York, YO43 4HW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 and cash equivalents

Cash and cash equivalents 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 borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		4

3. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 April 2025	11,280		42,040		53,320
Disposals	0		( 17,000)		( 17,000)
At 31 March 2026	11,280		25,040		36,320
Accumulated depreciation
At 01 April 2025	2,771		7,693		10,464
Charge for the financial year	2,128		8,321		10,449
Disposals	0		( 7,172)		( 7,172)
At 31 March 2026	4,899		8,842		13,741
Net book value
At 31 March 2026	6,381		16,198		22,579
At 31 March 2025	8,509		34,347		42,856

4. Stocks

	2026		2025
	£		£
Stocks	300		300

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

	2026		2025
	£		£
Other debtors	2,112		1,995

6. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	42,993		18,510

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	5,677		16,912
Taxation and social security	12,955		1,698
Other creditors	44,664		49,308
	63,296		67,918

8. Provision for liabilities

	2026		2025
	£		£
Deferred tax	2,859		0

9. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	0		0
Charged to the Statement of Income and Retained Earnings	( 2,859)		0
At the end of financial year	( 2,859)		0

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100