Registered number
11827931
GTR REAL ESTATE LIMITED
Filleted Accounts
28 February 2023
GTR REAL ESTATE LIMITED
Registered number: 11827931
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 918 1,806
Investments 4 552,751 552,751
553,669 554,557
Current assets
Debtors 5 1,665 2,033
Cash at bank and in hand 1,723 1,236
3,388 3,269
Creditors: amounts falling due within one year 6 (184,533) (189,945)
Net current liabilities (181,145) (186,676)
Total assets less current liabilities 372,524 367,881
Creditors: amounts falling due after more than one year 7 (361,995) (361,995)
Net assets 10,529 5,886
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 9,529 4,886
Shareholders' funds 10,529 5,886
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Kulasingam
Director
Approved by the board on 27 November 2023
GTR REAL ESTATE LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover derives from rental income. Rental income is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The profit or loss on revaluation is recognised in profit or loss and is subsequently transferred within equity to the "investment property reserve" together with the associated deferred tax.
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 4,339
At 28 February 2023 4,339
Depreciation
At 1 March 2022 2,533
Charge for the year 888
At 28 February 2023 3,421
Net book value
At 28 February 2023 918
At 28 February 2022 1,806
4 Investment property
Other
investments
£
Cost
At 1 March 2022 552,751
At 28 February 2023 552,751
The company's investment property was subject to revaluation at open market value at the period end, carried out by the directors.
5 Debtors 2023 2022
£ £
Other debtors 1,665 2,033
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,175 -
Other creditors 183,358 189,945
184,533 189,945
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 361,995 361,995
8 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 361,995 361,995
Secured bank loans 361,995 361,995
The bank loan is secured by a fixed charge over the assets of the company.
9 Related party transactions
Other creditors represent an amount of £183,358 (2022: £189,945) due to the directors of the company and it is repayable on demand.
10 Other information
GTR REAL ESTATE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
428 Yeading Lane
Northolt
Middlesex
UB5 6JR
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