Gafstone Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09803998 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Gafstone Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D P Gaffney

REGISTERED OFFICE:

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

REGISTERED NUMBER:

09803998 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Investment property

4

-

432,245

CURRENT ASSETS

Cash at bank

86,912

35,398

CREDITORS

Amounts falling due within one year

5

81,795

445,628

NET CURRENT ASSETS/(LIABILITIES)

5,117

(410,230

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,117

22,015

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

5,115

22,013

SHAREHOLDERS' FUNDS

5,117

22,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2020 and were signed by:

D P Gaffney - Director

1.	STATUTORY INFORMATION

Gafstone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

432,245

Additions

194,869

Disposals

(627,114

)

At 30 April 2020

-

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

432,245

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

134

-

Amounts owed to group undertakings

75,850

268,306

Taxation and social security

5,211

3,775

Other creditors

600

173,547

81,795

445,628

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

2

Ordinary

1

2

2