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REGISTERED NUMBER: 10563898 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

GOLDSMITH PROPERTIES MANAGEMENT LTD

GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 JANUARY 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 38,827 51,769
Investment property 5 1,415,100 1,415,100
1,453,927 1,466,869

CURRENT ASSETS
Debtors 6 3,008 28,000
Cash at bank and in hand 124,617 69,286
127,625 97,286
CREDITORS
Amounts falling due within one year 7 618,256 633,469
NET CURRENT LIABILITIES (490,631 ) (536,183 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

963,296

930,686

CREDITORS
Amounts falling due after more than one
year

8

(883,048

)

(883,001

)

PROVISIONS FOR LIABILITIES 10 (15,325 ) (15,325 )
NET ASSETS 64,923 32,360

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 45,976 45,976
Retained earnings 18,847 (13,716 )
SHAREHOLDERS' FUNDS 64,923 32,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 14 March 2024 and were signed by:




Mrs N I Goldsmith - Director


GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 JANUARY 2024

1. STATUTORY INFORMATION

Goldsmith Properties Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10563898

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, 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 date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 statement of financial position date.


GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 53,253 8,236 61,489
DEPRECIATION
At 1 February 2023 7,661 2,059 9,720
Charge for year 11,398 1,544 12,942
At 31 January 2024 19,059 3,603 22,662
NET BOOK VALUE
At 31 January 2024 34,194 4,633 38,827
At 31 January 2023 45,592 6,177 51,769

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 1,415,100
NET BOOK VALUE
At 31 January 2024 1,415,100
At 31 January 2023 1,415,100

GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JANUARY 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£
Valuation in 2023 61,301
Cost 1,353,799
1,415,100

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

2024 2023
£ £
Cost 1,353,799 1,353,799

The director consider that the market value of the properties as at the year-end to be as stated in the financial statements

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,008 28,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,069 6,747
Taxation and social security 1,843 -
Other creditors 614,344 626,722
618,256 633,469

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 883,048 883,001

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 494,646 494,812

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 883,048 883,001

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 15,325 15,325

GOLDSMITH PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 10563898)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JANUARY 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 15,325
Balance at 31 January 2024 15,325

11. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 45,976

12. RELATED PARTY DISCLOSURES

Included in the other creditors less than one year is an amount of £611,043 (2022: £623,722) due to a connected company under common shareholding and directorship.The loan is interest free and repayable on demand.