ACCOUNTS - Final Accounts preparation

GILES PROPERTY DEVELOPMENTS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-30false1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-05-01trueNo description of principal activity1false 11111065 2021-05-01 2022-04-30 11111065 2020-05-01 2021-04-30 11111065 2022-04-30 11111065 2021-04-30 11111065 1 2021-05-01 2022-04-30 11111065 d:Director1 2021-05-01 2022-04-30 11111065 c:CurrentFinancialInstruments 2022-04-30 11111065 c:CurrentFinancialInstruments 2021-04-30 11111065 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-30 11111065 c:CurrentFinancialInstruments c:WithinOneYear 2021-04-30 11111065 c:ShareCapital 2022-04-30 11111065 c:ShareCapital 2021-04-30 11111065 c:RetainedEarningsAccumulatedLosses 2022-04-30 11111065 c:RetainedEarningsAccumulatedLosses 2021-04-30 11111065 d:EntityNoLongerTradingButTradedInPast 2021-05-01 2022-04-30 11111065 d:FRS102 2021-05-01 2022-04-30 11111065 d:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 11111065 d:FullAccounts 2021-05-01 2022-04-30 11111065 d:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 11111065

GILES PROPERTY DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

GILES PROPERTY DEVELOPMENTS LIMITED

REGISTERED NUMBER: 11111065

BALANCE SHEET

AS AT 30 APRIL 2022

		2022		2021
		£		£


Current assets
Debtors: amounts falling due within one year	52,346		52,346
	52,346		52,346
Creditors: amounts falling due within one year	(50,721)		-
Net current assets		1,625		52,346
Total assets less current liabilities		1,625		52,346

Net assets		1,625		52,346

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	625	51,346
	1,625	52,346

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2023.

G W Murphy

Director

The notes on pages 2 to 4 form part of these financial statements.

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GILES PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

1.	General information

Giles Property Development Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 11111065. The address of the registered office is Old Station Road, Loughton, Essex, IG10 4PL.

2.Accounting policies

2.1

Basis of preparation of financial statements

As set out in the Directors’ report, the financial statements have been prepared on a break up basis. In adopting the break up basis at the year end the following policies and procedures were implemented:
- All current assets have been disclosed at net realisable values.
- All liabilities reflect the full amount at which they are expected to materialise.
The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company’s accounting policies.
The following accounting policies have been applied:

The following principal accounting policies have been applied:

2.2

Going concern

Following the year end, the directors of the company have made the decision to cease trading post year end. The financial statements have been prepared on a break up basis as set out above under the basis of preparation.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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GILES PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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GILES PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	51,346	51,346
Called up share capital not paid	1,000	1,000
	52,346	52,346

5.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other creditors	50,721	-
	50,721	-

6.	Related party transactions
	At the balance sheet date, the following amounts were due from/(to):

		2022	2021
		£	£

	Other Related Parties	51,346	51,346
		51,346	51,346

7.	Post balance sheet events

Following the year end, the directors of the company have made the decision to cease trading post year end.

8.	Controlling party

The ultimate controlling party is G W Murphy, as a result of his shareholding in the company.

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