G.V. Developments Ltd - Period Ending 2021-09-30

G.V. Developments Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

G.V. Developments Ltd

Company Information

Director

V Vasiliou

Registered office

590 Green Lanes Palmers Green London N13 5RY

Accountants

Thomas Alexander & Co Ltd 590 Green Lanes Palmers Green London N13 5RY

G.V. Developments Ltd

(Registration number: 04213814)
Balance Sheet as at 30 September 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	233	233
Current assets
Debtors	5	308,733	308,733
Creditors: Amounts falling due within one year	6	(9,282)	(9,282)
Net current assets		299,451	299,451
Net assets		299,684	299,684
Capital and reserves
Called up share capital	7	1,000	1,000
Profit and loss account		298,684	298,684
Shareholders' funds		299,684	299,684

For the financial year ending 30 September 2021 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 November 2021
 

......................................... V Vasiliou Director

G.V. Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
13 Green Lanes
Palmers Green
London
N13 4TT

These financial statements were authorised for issue by the director on 27 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & machinery	25% Reducing Balance Method

G.V. Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

G.V. Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 October 2020	10,684	10,684
At 30 September 2021	10,684	10,684
Depreciation
At 1 October 2020	10,451	10,451
At 30 September 2021	10,451	10,451
Carrying amount
At 30 September 2021	233	233
At 30 September 2020	233	233

5

Debtors

	2021 £	2020 £
Other debtors	308,733	308,733
	308,733	308,733

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Accruals and deferred income	500	500
Other creditors	8,782	8,782
	9,282	9,282

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

G.V. Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

8	Related party transactions

Included in other creditors is an amount of £3,552 (2019: £3,552) owed to V Vasiliou, the director of the company. Also included in other creditors is an amount of £1,000 (2019: £1,000) owed to More & Co Estates Ltd and an amount of £4,230 (2019: £4,230) owed to G.V. Building Services (UK) Ltd, companies under common control. Included in other debtors is an amount of £273,658 (2019: £273,658) owed from GV Investments & Lettings Ltd and an amount of £35,075 (2019: £35,075) owed from Emli Properties Ltd, companies under common control.