Registered number
10773457
Gentle Properties (Selly Oak) Limited
Report and Unaudited Accounts
30 March 2023
Collins
Chartered Accountants
West Midlands
Gentle Properties (Selly Oak) Limited
Registered number: 10773457
Balance Sheet
as at 30 March 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 4 11,424,429 11,445,570
Current assets
Stocks - 81,727
Debtors 5 27,800 33,525
Cash at bank and in hand 264 56,160
28,064 171,412
Creditors: amounts falling due within one year 6 (2,102,896) (3,292,576)
Net current liabilities (2,074,832) (3,121,164)
Total assets less current liabilities 9,349,597 8,324,406
Creditors: amounts falling due after more than one year 7 (9,529,959) (8,502,290)
Net liabilities (180,362) (177,884)
Capital and reserves
Called up share capital 1 1
Profit and loss account (180,363) (177,885)
Shareholder's funds (180,362) (177,884)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Fickert
Director
Approved by the board on 14 March 2024
Gentle Properties (Selly Oak) Limited
Notes to the Accounts
for the period from 1 April 2022 to 30 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover comprises revenue earned from the rents received and property maintenance charges and is recognised by reference to sales completed.
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 investment properties, 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
Stocks
Stocks are measured at the lower of cost and estimated selling price. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Investment properties
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 profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
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.
2 Going concern
The Balance Sheet at 30 March 2023 shows that liabilities exceed assets by £180,362. There is a balance due to the director amounting to £192,303 which will only be repaid as funds are available. In preparing the financial statements he has taken into account all information that could reasonably be expected to be available and consider it is appropriate to prepare the financial statements on a going concern basis.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Investment properties Fixtures and fittings Total
£ £ £
Cost
At 1 April 2022 11,094,079 409,907 11,503,986
At 30 March 2023 11,094,079 409,907 11,503,986
Depreciation
At 1 April 2022 - 58,416 58,416
Charge for the period - 21,141 21,141
At 30 March 2023 - 79,557 79,557
Net book value
At 30 March 2023 11,094,079 330,350 11,424,429
At 31 March 2022 11,094,079 351,491 11,445,570
The investment properties are re-valued each year by the director on an open market basis.
5 Debtors 2023 2022
£ £
Prepayments and accrued income 17,185 16,795
VAT receivable 10,615 16,730
27,800 33,525
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 10,000 10,000
Amounts owed to group undertakings 1,230,929 1,197,105
Corporation tax 6,916 2,538
Directors loans 192,303 1,077,520
Accruals and deferred income 20,400 -
Other creditors 642,348 1,005,413
2,102,896 3,292,576
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,529,959 8,502,290
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 9,506,626 8,468,957
9 Controlling party
The company is under the control of Dr G Fickert.
10 Other information
Gentle Properties (Selly Oak) Limited is a private company limited by shares and incorporated in England. Its registered office is:
504 Bristol Road
Selly Oak
Birmingham
B29 6BD
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