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REGISTERED NUMBER: 04270463 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

G.A.K. PROPERTIES LIMITED

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.A.K. PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr K Mawby (Jnr)
Mr G Lockwood





SECRETARY: Mr G Lockwood





REGISTERED OFFICE: The Warehouse
Beevor Street Industrial Estate
Barnsley
South Yorkshire
S71 1HN





REGISTERED NUMBER: 04270463 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,349,682 1,349,775

CURRENT ASSETS
Debtors 5 266,627 268,736
Cash at bank 39,927 44,546
306,554 313,282
CREDITORS
Amounts falling due within one year 6 91,883 102,252
NET CURRENT ASSETS 214,671 211,030
TOTAL ASSETS LESS CURRENT LIABILITIES 1,564,353 1,560,805

CREDITORS
Amounts falling due after more than
one year

7

1,175,538

1,177,189
NET ASSETS 388,815 383,616

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 247,750 247,750
Retained earnings 140,965 135,766
SHAREHOLDERS' FUNDS 388,815 383,616

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

BALANCE SHEET - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 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 14 August 2023 and were signed on its behalf by:





Mr K Mawby (Jnr) - Director


G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

G.A.K. Properties 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The significant judgement and estimate used in the preparation of the financial statements is:

The investment properties are included in the financial statements at the year end at their fair value. This value has been determined by the directors.

There are no other key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have had a significant risk of causing material misstatements to the carrying amount of assets and liabilities within the next financial year.

Turnover
Turnover represents amounts in respect of rents received during the year.

Gross rental income is recognised in the income statement on a straight-line basis over the term of the lease.

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, fittings and equipment - 20% on reducing balance

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


G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gains / (losses) on investments' in the income statement.

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. Market valuation has been determined by the directors.

Investments
Fixed and current asset investments are stated at cost less provision for any permanent diminution in value. Listed investments are included at fair value at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Long Fixtures,
Freehold leasehold fittings
investment investment and
property property equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2022
and 31 January 2023 583,508 765,804 23,999 1,373,311
DEPRECIATION
At 1 February 2022 - - 23,536 23,536
Charge for year - - 93 93
At 31 January 2023 - - 23,629 23,629
NET BOOK VALUE
At 31 January 2023 583,508 765,804 370 1,349,682
At 31 January 2022 583,508 765,804 463 1,349,775

Cost or valuation at 31 January 2023 is represented by:

Long Fixtures,
Freehold leasehold fittings
investment investment and
property property equipment Totals
£    £    £    £   
Valuation in 2023 583,508 765,804 23,999 1,373,311

If tangible fixed assets had not been revalued they would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 1,101,562 1,101,562

Freehold & leasehold property was valued on an open market basis on 31 January 2022 by the directors .

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. DEBTORS
31.1.23 31.1.22
£    £   
Amounts falling due within one year:
Other debtors 100,000 100,000
Directors' current accounts 41,130 42,453
Prepayments and accrued income - 786
141,130 143,239

Amounts falling due after more than one year:
Other debtors 125,497 125,497

Aggregate amounts 266,627 268,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 1,650 1,649
Corporation tax 11,361 24,987
Other creditors 31,472 33,666
Accruals and deferred income 47,400 41,950
91,883 102,252

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 1,650 1,691
Bank loans - 2-5 years 4,950 5,333
Bank loans 5,155 6,382
Bank loans 1,163,783 1,163,783
1,175,538 1,177,189

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.23 31.1.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,163,783 1,163,783

Repayable by instalments
Bank loans 5,155 6,382

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 1,163,783 1,163,783

The loans are secured on the properties to which the debts relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Revaluation
reserve
£   
At 1 February 2022
and 31 January 2023 247,750

G.A.K. PROPERTIES LIMITED (REGISTERED NUMBER: 04270463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Mr K Mawby (Jnr)
Balance outstanding at start of year 5,987 5,789
Amounts advanced - 198
Amounts repaid (1,323 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,664 5,987

Mr G Lockwood
Balance outstanding at start of year 36,466 36,466
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,466 36,466

12. RELATED PARTY DISCLOSURES

Other related parties.

31.1.23 31.1.22
£    £
Amounts due from related party 211,080 111,080
Amounts received from related party - 45,480
Amounts due to related party (23,682 ) (23,682 )

There is no interest receivable on the above loan.

Borrowings

The company's borrowings are secured personally by the directors.