Gusto Estates Limited - Accounts to registrar (filleted) - small 22.3

Gusto Estates Limited - Accounts to registrar (filleted) - small 22.3

GUSTO ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 09343018 (England and Wales)






















Financial Statements

for the Period

1 January 2021 to 31 March 2022

for

Gusto Estates Limited
Gusto Estates Limited (Registered number: 09343018)






Contents of the Financial Statements
for the Period 1 January 2021 to 31 March 2022




Page

Balance Sheet 1

Notes to the Financial Statements 2


Gusto Estates Limited (Registered number: 09343018)

Balance Sheet
31 March 2022

2022 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,466,628 -

CURRENT ASSETS
Stocks 567,494 -
Debtors 5 45,912 -
Cash at bank 67,481 32,261
680,887 32,261
CREDITORS
Amounts falling due within one year 6 3,134,051 12,295
NET CURRENT (LIABILITIES)/ASSETS (2,453,164 ) 19,966
TOTAL ASSETS LESS CURRENT
LIABILITIES
13,464
19,966

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 13,454 19,956
13,464 19,966

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2022 and were signed by:





S N Wright - Director


The notes form part of these financial statements

Page 1
Gusto Estates Limited (Registered number: 09343018)

Notes to the Financial Statements
for the Period 1 January 2021 to 31 March 2022

1. STATUTORY INFORMATION

Gusto Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09343018

Registered office: Millennium Green Business Centre
Rio Drive
Collingham
Newark
Nottinghamshire
NG23 7NB

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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 period was NIL (2020 - NIL).

Page 2 continued...
Gusto Estates Limited (Registered number: 09343018)

Notes to the Financial Statements - continued
for the Period 1 January 2021 to 31 March 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 2,466,628
At 31 March 2022 2,466,628
NET BOOK VALUE
At 31 March 2022 2,466,628

The directors have considered the fair value of investment properties at the year end and due to the purchase in the year, there is no change to the valuation included in the accounts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2020
£    £   
Trade debtors 8,202 -
Other debtors 37,710 -
45,912 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2020
£    £   
Trade creditors 103,218 -
Amounts owed to group undertakings 3,000,000 -
Taxation and social security 3,156 12,295
Other creditors 27,677 -
3,134,051 12,295

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is Gusto Group Limited. The registered office and business address of the parent undertaking is Millenium Green Business Centre, Rio Drive, Collingham, Newark, NG23 7NB.

Page 3