Gordon Greatorex Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00552889 (England and Wales)

GORDON GREATOREX LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2018 TO 31ST DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A Riches

J G Riches

Dr. M C Riches

SECRETARY:

Dr M C Riches

REGISTERED OFFICE:

Forum House, 1st Floor

15-18 Lime Street

London

EC3M 7AN

REGISTERED NUMBER:

00552889 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Forum House

First Floor

15-18 Lime Street

London

EC3M 7AN

FIXED ASSETS

Tangible assets

4

28

40

Investment property

5

1,644,000

1,644,000

1,644,028

1,644,040

CURRENT ASSETS

Debtors

6

234

312

Cash at bank

652,584

557,146

652,818

557,458

CREDITORS

Amounts falling due within one year

7

75,334

70,035

NET CURRENT ASSETS

577,484

487,423

TOTAL ASSETS LESS CURRENT LIABILITIES

2,221,512

2,131,463

PROVISIONS FOR LIABILITIES

287,231

287,231

NET ASSETS

1,934,281

1,844,232

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

28,001

28,001

Fair value reserve

8

1,315,602

1,315,602

Retained earnings

590,578

500,529

SHAREHOLDERS' FUNDS

1,934,281

1,844,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22nd July 2020 and were signed on its behalf by:

Dr. M C Riches - Director

1.	STATUTORY INFORMATION

Gordon Greatorex 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.

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.

The financial statements are prepared in Pound Sterling which is the functional currency of the company and

rounded to nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover comprises revenue recognised by the company in respect of rental income and is recognised in the

period to which it relates.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment properties are shown at their fair value. Any adjustment to the fair value of the investment

properties is recognised in the profit and loss account for the year.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as

investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties

to be depreciated. Such properties are held for investment and not for consumption and the directors consider

that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements

reflected in the annual valuation of properties and accordingly the amount of depreciation which might

otherwise have been charged cannot be separately identified or quantified. The directors consider that this

policy results in the financial statements giving a true and fair view.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

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

balance sheet 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 period 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 & creditors

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 period was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st October 2018

and 31st December 2019

4,949

DEPRECIATION

At 1st October 2018

4,909

Charge for period

12

At 31st December 2019

4,921

NET BOOK VALUE

At 31st December 2019

28

At 30th September 2018

40

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2018

and 31st December 2019

1,644,000

NET BOOK VALUE

At 31st December 2019

1,644,000

At 30th September 2018

1,644,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

234

312

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

312

-

Taxation and social security

26,681

21,519

Other creditors

48,341

48,516

75,334

70,035

8.

RESERVES

Fair

value

reserve

£

At 1st October 2018

and 31st December 2019

1,315,602