G.B. Property Developments Limited Filleted accounts for Companies House (small and micro)

G.B. PROPERTY DEVELOPMENTS LIMITED - Company Information

2 false false false false false false false false false true false false false false false false No description of principal activity 2021-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 301,886 301,886 301,886 xbrli:pure xbrli:shares iso4217:GBP 02863354 2021-11-01 2022-10-31 02863354 2022-10-31 02863354 2020-11-01 2021-10-31 02863354 2021-10-31 02863354 bus:Director1 2021-11-01 2022-10-31 02863354 core:WithinOneYear 2022-10-31 02863354 core:WithinOneYear 2021-10-31 02863354 core:AfterOneYear 2022-10-31 02863354 core:AfterOneYear 2021-10-31 02863354 core:ShareCapital 2022-10-31 02863354 core:ShareCapital 2021-10-31 02863354 core:CapitalRedemptionReserve 2022-10-31 02863354 core:CapitalRedemptionReserve 2021-10-31 02863354 core:RetainedEarningsAccumulatedLosses 2022-10-31 02863354 core:RetainedEarningsAccumulatedLosses 2021-10-31 02863354 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 02863354 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-31 02863354 bus:SmallEntities 2021-11-01 2022-10-31 02863354 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 02863354 bus:FullAccounts 2021-11-01 2022-10-31 02863354 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 02863354 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 02863354 core:AfterOneYear 2021-11-01 2022-10-31

COMPANY REGISTRATION NUMBER: 02863354

G.B. PROPERTY DEVELOPMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 October 2022

G.B. PROPERTY DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 October 2022

	2022		2021
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		301,886		301,886

CURRENT ASSETS

Cash at bank and in hand	79,963		77,417

CREDITORS: amounts falling due within one year	6	33,504		33,925
		--------		--------
NET CURRENT ASSETS			46,459		43,492
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			348,345		345,378

CREDITORS: amounts falling due after more than one year	7	51,370	57,616
		---------	---------
NET ASSETS		296,975	287,762
		---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	200	200
Capital redemption reserve	100	100
Profit and loss account	296,675	287,462
	---------	---------
SHAREHOLDERS FUNDS	296,975	287,762
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

G.B. PROPERTY DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 October 2022

These financial statements were approved by the board of directors and authorised for issue on 28 June 2023 , and are signed on behalf of the board by:

Mr R L Green

Director

Company registration number: 02863354

G.B. PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2022

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover represents the amount derived from the provision of management services and property rental income within the company's ordinary activities. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. TANGIBLE ASSETS

	Freehold investment property
	£
Cost
At 1 November 2021 and 31 October 2022	301,886
	---------
Depreciation
At 1 November 2021 and 31 October 2022	–
	---------
Carrying amount
At 31 October 2022	301,886
	---------
At 31 October 2021	301,886
	---------

6. CREDITORS: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	6,242	6,238
Corporation tax	4,976	4,318
Other creditors	22,286	23,369
	--------	--------
	33,504	33,925
	--------	--------

The amounts shown in bank loans and overdrafts are secured by the company.

7. CREDITORS: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	51,370	57,616
	--------	--------

The amounts shown in bank loans and overdrafts are secured by the company.

8. RELATED PARTY TRANSACTIONS

During the year the company undertook the following transactions with related parties: The directors have advanced monies to the company. At 31 October 2022 the amount due from the company was £ 21,094 (2021 - £ 22,294 ).