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REGISTERED NUMBER: 06403978 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Gatehall Services Limited

Gatehall Services Limited (Registered number: 06403978)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gatehall Services Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr P S Millan
Mr J S Midha



SECRETARY: Mr P S Millan



REGISTERED OFFICE: 34 Carpenders Close
Harpenden
AL5 3HN



REGISTERED NUMBER: 06403978 (England and Wales)



ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS



BANKERS: Lloyds Bank PLC
1 Legg Street
Chelmsford
Esses
CM1 1JS

Gatehall Services Limited (Registered number: 06403978)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,057 2,580
Investments 5 100 100
Investment property 6 16,395,629 15,933,625
16,397,786 15,936,305

CURRENT ASSETS
Debtors 7 8,907 20,025
Cash at bank - 9,594
8,907 29,619
CREDITORS
Amounts falling due within one year 8 1,295,327 1,343,574
NET CURRENT LIABILITIES (1,286,420 ) (1,313,955 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,111,366

14,622,350

CREDITORS
Amounts falling due after more than one
year

9

(8,287,833

)

(8,241,755

)

PROVISIONS FOR LIABILITIES (1,210,243 ) (914,491 )
NET ASSETS 5,613,290 5,466,104

CAPITAL AND RESERVES
Called up share capital 11 2 2
Non distributable reserve 12 3,629,186 3,896,529
Retained earnings 1,984,102 1,569,573
SHAREHOLDERS' FUNDS 5,613,290 5,466,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Gatehall Services Limited (Registered number: 06403978)

Balance Sheet - continued
28 February 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mr P S Millan - Director


Gatehall Services Limited (Registered number: 06403978)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Gatehall Services 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Gatehall Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

A transfer is made from retained earnings to the non distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided.

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.

Gatehall Services Limited (Registered number: 06403978)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 21,899 1,500 650 24,049
DEPRECIATION
At 1 March 2022 19,444 1,387 638 21,469
Charge for year 491 29 3 523
At 28 February 2023 19,935 1,416 641 21,992
NET BOOK VALUE
At 28 February 2023 1,964 84 9 2,057
At 28 February 2022 2,455 113 12 2,580

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 100
NET BOOK VALUE
At 28 February 2023 100
At 28 February 2022 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 15,933,625
Additions 920,630
Disposals (569,532 )
Revaluations 110,906
At 28 February 2023 16,395,629
NET BOOK VALUE
At 28 February 2023 16,395,629
At 28 February 2022 15,933,625

Gatehall Services Limited (Registered number: 06403978)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. INVESTMENT PROPERTY - continued

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2022 4,838,915
Cost 11,556,714
16,395,629

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 11,556,714 11,123,094

The investment properties were valued on an open market basis on 28 February 2023 by the director, Mr P S Millan .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 3,411
Prepayments and accrued income 8,907 16,614
8,907 20,025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 178,824 173,356
Trade creditors 100,505 2,151
Amounts owed to group undertakings 8,058 44,358
Tax 89,589 24,420
Other creditors 625 625
Other loans 355,149 345,905
Amounts owed to related
parties 131,017 324,706
Directors' current accounts 396,504 401,624
Accruals and deferred income 35,056 26,429
1,295,327 1,343,574

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1-2 years 178,688 180,167
Bank loans 2-5 years 8,109,145 6,780,974
Bank loans > 5 years - 1,280,614
8,287,833 8,241,755

Gatehall Services Limited (Registered number: 06403978)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years - 1,280,614

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 8,458,809 8,415,111

The bank loans are secured by a charge on the investment properties.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Non
distributable
reserve
£   
At 1 March 2022 3,896,529
Transfer between reserves (267,343 )

At 28 February 2023 3,629,186

13. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from group undertakings amounted to £8,058 (2022 £44,358).