G&N Developments Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05119934

G&N Developments Ltd

Filleted Unaudited Financial Statements

31 May 2025

G&N Developments Ltd

Statement of Financial Position

31 May 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		2,137,952		2,138,490

Current assets

Debtors	6	314,955	256,283
Cash at bank and in hand		196,923	275,651
		---------	---------
		511,878	531,934

Creditors: amounts falling due within one year	7	86,659		83,897
		---------		---------
Net current assets			425,219		448,037
			------------		------------
Total assets less current liabilities			2,563,171		2,586,527

Creditors: amounts falling due after more than one year	8		1,155,521		1,155,510

Provisions	91,412	91,412
	------------	------------
Net assets	1,316,238	1,339,605
	------------	------------

Capital and reserves

Called up share capital	9	4	4
Profit and loss account		1,316,234	1,339,601
		------------	------------
Shareholders funds		1,316,238	1,339,605
		------------	------------

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 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

G&N Developments Ltd

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 31 May 2026 , and are signed on behalf of the board by:

Mrs J Nijjar
Director

Company registration number: 05119934

G&N Developments Ltd

Notes to the Financial Statements

Year ended 31 May 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 91 Northumberland Road, Leamington Spa, Warwickshire, CV21 1HF, England.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	25% reducing balance
Equipment	-	20 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	35,000	40,000
	--------	--------

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Investment property	Total
	£	£	£	£	£
Cost
At 1 June 2024 and 31 May 2025	760	17,336	773	2,136,682	2,155,551
	----	--------	----	------------	------------
Depreciation
At 1 June 2024	374	16,300	387	–	17,061
Charge for the year	86	259	193	–	538
	----	--------	----	------------	------------
At 31 May 2025	460	16,559	580	–	17,599
	----	--------	----	------------	------------
Carrying amount
At 31 May 2025	300	777	193	2,136,682	2,137,952
	----	--------	----	------------	------------
At 31 May 2024	386	1,036	386	2,136,682	2,138,490
	----	--------	----	------------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	113,229	113,229
Amounts owed by group undertakings and undertakings in which the company has a participating interest	12,846	( 57,890)
Other debtors	188,880	200,944
	---------	---------
	314,955	256,283
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	5,732
Corporation tax	8,799	6,259
Other creditors	60,748	59,287
Other creditors	17,112	12,619
	--------	--------
	86,659	83,897
	--------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,155,521	1,155,510
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	3	3	3	3
Ordinary Class 2 shares of £ 1 each	1	1	1	1
	----	----	----	----
	4	4	4	4
	----	----	----	----

10. Director's advances, credits and guarantees

During the period advances and credits with the director has resulted in the director being owed £1,397 (2024-£12,064). The loan is interest-free and repayable on demand.

11. Related party transactions

During the period transactions took place with a related party - Rocky gap ltd. At the period end £12,845 (2024-£57,890) was owed by G&N developments ltd to Rocky Gap Ltd. The loan is interest-free and repayable on demand. The two companies are related through common directorship.