IRIS Accounts Production v22.2.0.402 04981351 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Fair value model 82474 82924 1865 2915 465 2465 81074 82474 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure049813512020-12-31049813512021-12-31049813512021-01-012021-12-31049813512019-12-31049813512020-01-012020-12-31049813512020-12-3104981351ns16:EnglandWales2021-01-012021-12-3104981351ns15:PoundSterling2021-01-012021-12-3104981351ns11:Director12021-01-012021-12-3104981351ns11:Director22021-01-012021-12-3104981351ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3104981351ns11:SmallEntities2021-01-012021-12-3104981351ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3104981351ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3104981351ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104981351ns11:FullAccounts2021-01-012021-12-310498135142ns11:Director22020-12-310498135142ns11:Director22019-12-310498135142ns11:Director22021-01-012021-12-310498135142ns11:Director22020-01-012020-12-310498135142ns11:Director22021-12-310498135142ns11:Director22020-12-3104981351ns11:CompanySecretary12021-01-012021-12-3104981351ns11:RegisteredOffice2021-01-012021-12-3104981351ns6:CurrentFinancialInstruments2021-12-3104981351ns6:CurrentFinancialInstruments2020-12-3104981351ns6:Non-currentFinancialInstruments2021-12-3104981351ns6:Non-currentFinancialInstruments2020-12-3104981351ns6:ShareCapital2021-12-3104981351ns6:ShareCapital2020-12-3104981351ns6:RetainedEarningsAccumulatedLosses2021-12-3104981351ns6:RetainedEarningsAccumulatedLosses2020-12-3104981351ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3104981351ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3104981351ns6:Non-currentFinancialInstruments2021-01-012021-12-3104981351ns11:Director112020-12-3104981351ns11:Director112019-12-3104981351ns11:Director112021-01-012021-12-3104981351ns11:Director112020-01-012020-12-3104981351ns11:Director112021-12-3104981351ns11:Director112020-12-31
REGISTERED NUMBER: 04981351 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

GAIRLOCH PROPERTY LIMITED

GAIRLOCH PROPERTY LIMITED (REGISTERED NUMBER: 04981351)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAIRLOCH PROPERTY LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2021







DIRECTORS: Mr R P Atkins
Mrs K L Atkins





SECRETARY: Mrs K L Atkins





REGISTERED OFFICE: Equinox House
Clifton Park
Shipton Road
York
YO30 5PA





REGISTERED NUMBER: 04981351 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Equinox House
Clifton Park
Shipton Road
York
Yorkshire
YO30 5PA

GAIRLOCH PROPERTY LIMITED (REGISTERED NUMBER: 04981351)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 135,963 135,963

CURRENT ASSETS
Debtors 5 4,275 -
Cash at bank 44,407 54,503
48,682 54,503
CREDITORS
Amounts falling due within one year 6 92,493 94,516
NET CURRENT LIABILITIES (43,811 ) (40,013 )
TOTAL ASSETS LESS CURRENT LIABILITIES 92,152 95,950

CREDITORS
Amounts falling due after more than one
year

7

9,743

19,684
NET ASSETS 82,409 76,266

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 81,409 75,266
82,409 76,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

GAIRLOCH PROPERTY LIMITED (REGISTERED NUMBER: 04981351)

BALANCE SHEET - continued
31 December 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:




Mrs K L Atkins - Director



Mr R P Atkins - Director


GAIRLOCH PROPERTY LIMITED (REGISTERED NUMBER: 04981351)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2021


1. STATUTORY INFORMATION

Gairloch Property 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

At 31 December 2020 the investment property is Unit 7, Pyramid Court, Ouseacres, York, Y026 5NB. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Taxation
Taxation for the year 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 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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

GAIRLOCH PROPERTY LIMITED (REGISTERED NUMBER: 04981351)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2021


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 135,963
NET BOOK VALUE
At 31 December 2021 135,963
At 31 December 2020 135,963

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 4,275 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,482 9,482
Taxation and social security 1,002 1,060
Other creditors 82,009 83,974
92,493 94,516

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 9,743 19,684

The bank loan is secured by a fixed charge on the freehold property at 7 Pyramid court, Ouseacres, Boroughbridge road, York.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Mrs K L Atkins and Mr R P Atkins
Balance outstanding at start of year (82,474 ) (82,924 )
Amounts advanced 1,865 2,915
Amounts repaid (465 ) (2,465 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (81,074 ) (82,474 )

Included in other creditors falling due within one year is an amount of £81,074 (2020 - £82,474) due to the directors of the company.
During the year, dividend payments amounting to £Nil (2020 - £2,000) were paid to the directors of the company.