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REGISTERED NUMBER: 07587094 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GBS Estates Limited

GBS Estates Limited (Registered number: 07587094)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GBS Estates Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr C P Simpson
Mr C Gent
Mr D Bradbury





SECRETARY: Mr C P Simpson





REGISTERED OFFICE: Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS





REGISTERED NUMBER: 07587094 (England and Wales)





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

GBS Estates Limited (Registered number: 07587094)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,352,771 3,352,771

CURRENT ASSETS
Debtors 5 101,412 75,820
Cash at bank and in hand 1,378,920 1,263,508
1,480,332 1,339,328
CREDITORS
Amounts falling due within one year 6 132,010 149,519
NET CURRENT ASSETS 1,348,322 1,189,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,701,093

4,542,580

PROVISIONS FOR LIABILITIES 57,276 57,276
NET ASSETS 4,643,817 4,485,304

CAPITAL AND RESERVES
Called up share capital 7 90 90
Non distributable reserve 244,178 244,178
Retained earnings 4,399,549 4,241,036
SHAREHOLDERS' FUNDS 4,643,817 4,485,304

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

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

GBS Estates Limited (Registered number: 07587094)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





Mr C P Simpson - Director


GBS Estates Limited (Registered number: 07587094)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GBS Estates 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.

Turnover
Turnover represents rent receivable, excluding value added tax.

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 the profit and loss account.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

GBS Estates Limited (Registered number: 07587094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 3,352,771
NET BOOK VALUE
At 31 December 2023 3,352,771
At 31 December 2022 3,352,771

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 3,352,771

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,051,317 3,051,317

The investment property was valued on an open market basis on 31 December 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,500 70,500
Directors' current accounts - 3,001
Prepayments 30,912 2,319
101,412 75,820

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 487 -
Tax 59,821 66,453
VAT 11,459 26,302
Other creditors 433 433
Directors' current accounts 3,329 -
Accruals and deferred income 56,481 56,331
132,010 149,519

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary £1 90 90

GBS Estates Limited (Registered number: 07587094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr C P Simpson
Balance outstanding at start of year 1,649 -
Amounts advanced 30 1,649
Amounts repaid (2,420 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (741 ) 1,649

Mr C Gent
Balance outstanding at start of year 1,352 -
Amounts advanced 30 1,352
Amounts repaid (2,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (618 ) 1,352

Interest was not charged on the overdrawn directors loan accounts as the balances did not exceed £10k in the year.