Goodleigh Properties Limited Filleted accounts for Companies House (small and micro)

GOODLEIGH PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11905787

Goodleigh Properties Limited

Filleted Unaudited Financial Statements

31 March 2022

Goodleigh Properties Limited

Financial Statements

Year ended 31 March 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Goodleigh Properties Limited

Statement of Financial Position

31 March 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5		678,391		–

Current assets

Cash at bank and in hand	100		100

Creditors: amounts falling due within one year	6	678,391		–
		---------		----
Net current (liabilities)/assets			( 678,291)		100
			---------		----
Total assets less current liabilities			100		100
			----		----

Capital and reserves

Called up share capital	7	100	100
		----	----
Shareholders funds		100	100
		----	----

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 March 2022 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:

Mr M Goli
Director

Company registration number: 11905787

Goodleigh Properties Limited

Notes to the Financial Statements

Year ended 31 March 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 146 New London Road, Chelmsford, Essex, CM2 0AW.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's director. The director has indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the director considers the going concern basis is appropriate.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year, including the director, amounted to 1 (2021: 1).

5. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2021	–
Additions	678,391
	---------
At 31 March 2022	678,391
	---------
Depreciation
At 1 April 2021 and 31 March 2022	–
	---------
Carrying amount
At 31 March 2022	678,391
	---------
At 31 March 2021	–
	---------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Director loan accounts	198,391	–
Amounts owed to related undertakings	480,000	–
	---------	----
	678,391	–
	---------	----

7. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

8. Related party transactions

At the year end the company owed its director £198,391 (2021: £nil) which is shown within creditors due within one year.