Gordon Lodge Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03931978 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

GORDON LODGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C R Patel

Mr A J Oliver

Mr W P Mead

Mr L S Mead

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

03931978 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

2,300,000

1,390,430

CURRENT ASSETS

Debtors

5

1,013,882

862,840

Cash at bank

36,925

31,541

1,050,807

894,381

CREDITORS

Amounts falling due within one year

6

3,000

980,515

NET CURRENT ASSETS/(LIABILITIES)

1,047,807

(86,134

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,347,807

1,304,296

CREDITORS

Amounts falling due after more than one year

7

(1,593,600

)

-

PROVISIONS FOR LIABILITIES

9

(261,343

)

(177,147

)

NET ASSETS

1,492,864

1,127,149

CAPITAL AND RESERVES

Called up share capital

10

100

100

Non distributable reserves

1,324,321

900,173

Retained earnings

168,443

226,876

SHAREHOLDERS' FUNDS

1,492,864

1,127,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 December 2021 and were signed on its behalf by:

Mr C R Patel - Director

1.	STATUTORY INFORMATION

Gordon Lodge 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred.

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 4 (2020 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

1,390,430

Additions

401,226

Revaluations

508,344

At 31 March 2021

2,300,000

NET BOOK VALUE

At 31 March 2021

2,300,000

At 31 March 2020

1,390,430

Fair value at 31 March 2021 is represented by:

£

Valuation in 2010

137,319

Valuation in 2011

(60,000

)

Valuation in 2014

30,000

Valuation in 2015

120,000

Valuation in 2016

50,000

Valuation in 2019

800,000

Valuation in 2021

489,136

Cost

733,545

2,300,000

Investment property was valued on an open market basis on 20 November 2020 by Strutt & Parker .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts due from related parties

1,012,840

862,840

Prepayments

1,042

-

1,013,882

862,840

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts (see note 8)

-

979,015

Accrued expenses

3,000

1,500

3,000

980,515

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans (see note 8)

1,593,600

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,593,600

-

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.21

31.3.20

£

£

Amounts falling due within one year or on demand:

Bank loans

-

979,015

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,593,600

-

9.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

261,343

177,147

Deferred

tax

£

Balance at 1 April 2020

177,147

Provided during year

84,196

Balance at 31 March 2021

261,343

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary Share Capital

1

100

100