Allied Godwin Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02900597 (England and Wales)

ALLIED GODWIN DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T. Doss

SECRETARY:

Mrs E Doss

REGISTERED OFFICE:

Second Floor

34 Lime Street

London

EC3M 7AT

REGISTERED NUMBER:

02900597 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Second Floor

34 Lime Street

London

EC3M 7AT

FIXED ASSETS

Tangible assets

4

1,641

594

Investments

5

205,000

295,000

206,641

295,594

CURRENT ASSETS

Stocks

447,486

4,801,833

Debtors

6

2,016

152

Cash at bank

5,461,106

105,729

5,910,608

4,907,714

CREDITORS

Amounts falling due within one year

7

336,930

580,889

NET CURRENT ASSETS

5,573,678

4,326,825

TOTAL ASSETS LESS CURRENT LIABILITIES

5,780,319

4,622,419

CREDITORS

Amounts falling due after more than one year

8

4,000,000

4,000,000

NET ASSETS

1,780,319

622,419

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,780,219

622,319

SHAREHOLDERS' FUNDS

1,780,319

622,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th August 2023 and were signed by:

Mr T Doss - Director

1.	STATUTORY INFORMATION

Allied Godwin Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from sales of services is recognised by reference to the stage of completion at the balance sheet date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

The cost of the freehold property and all the associated costs related to the development of the property are shown as stocks.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2022

2,867

743

3,610

Additions

-

1,457

1,457

At 31st December 2022

2,867

2,200

5,067

DEPRECIATION

At 1st January 2022

2,867

149

3,016

Charge for year

-

410

410

At 31st December 2022

2,867

559

3,426

NET BOOK VALUE

At 31st December 2022

-

1,641

1,641

At 31st December 2021

-

594

594

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1st January 2022

295,000

Additions

205,000

Disposals

(295,000

)

At 31st December 2022

205,000

NET BOOK VALUE

At 31st December 2022

205,000

At 31st December 2021

295,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

2,016

152

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

330,035

30,464

Other creditors

6,895

550,425

336,930

580,889

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

4,000,000

4,000,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

4,000,000

4,000,000

9.	RELATED PARTY DISCLOSURES

Tarek Doss, the director provided a zero coupon unsecured loan note of £4,000,000 repayable on 31 January 2030.