2022-04-012023-03-312023-03-31false04651544GLADSTONE ROAD PROPERTIES 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GLADSTONE ROAD PROPERTIES LTD

Registered Number
04651544
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

GLADSTONE ROAD PROPERTIES LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

ADAMS, Susan

Registered Address

74 Candlemas Lane
Beaconsfield
Buckinghamshire
HP9 1AE

Registered Number

04651544 (England and Wales)
GLADSTONE ROAD PROPERTIES LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6926,693926,694
926,693926,694
Current assets
Cash at bank and on hand1,63025,378
1,63025,378
Creditors amounts falling due within one year9(293,067)(329,583)
Net current assets (liabilities)(291,437)(304,205)
Total assets less current liabilities635,256622,489
Provisions for liabilities10(48,454)(48,454)
Net assets586,802574,035
Capital and reserves
Called up share capital100100
Other reserves336,379336,379
Profit and loss account250,323237,556
Shareholders' funds586,802574,035
The financial statements were approved and authorised for issue by the Director on 26 September 2023, and are signed on its behalf by:
ADAMS, Susan
Director
Registered Company No. 04651544
GLADSTONE ROAD PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the company continues to be that of property lettings.
4.Accounting policies
Turnover policy
Turnover represents rental income and service charges receivable.
Property, plant and equipment policy
Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at the fair value at the reporting date. The gain or loss on valuation is recognised in the profit and loss and is subsequently transferred within equity to the 'investment property reserve' together with the deferred taxes. Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of the assets less their residual values over their useful lives on the following basis: Fixtures, Fittings & Equipment: 25% Straight Line
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax has been calculated in relation to the investment properties held using the tax rate applicable to the sale of the assets.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market basis by reference to the market value for similar properties.
5.Employee information

20232022
Average number of employees during the year00
6.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 April 22925,00068,117997994,114
Additions-729-729
At 31 March 23925,00068,846997994,843
Depreciation and impairment
At 01 April 22-66,92149967,420
Charge for year-481249730
At 31 March 23-67,40274868,150
Net book value
At 31 March 23925,0001,444249926,693
At 31 March 22925,0001,196498926,694
7.Revaluation of property, plant and equipment
Property, plant and equipment includes an investment property purchased in 2003 for £433,365. The property has been revalued to the fair value as shown below as required by FRS102.
8.Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Taxation and social security3,946543
Other creditors288,871326,107
Accrued liabilities and deferred income2502,933
Total293,067329,583
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)48,45448,454
Total48,45448,454