Registered number
03920350
Gentle Properties Limited
Report and Unaudited Accounts
30 March 2023
Collins
Chartered Accountants
West Midlands
Gentle Properties Limited
Registered number: 03920350
Balance Sheet
as at 30 March 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 27,347,762 26,956,595
Investments 4 2 2
27,347,764 26,956,597
Current assets
Debtors 5 4,234,747 3,419,794
Cash at bank and in hand 5,501 5,932
4,240,248 3,425,726
Creditors: amounts falling due within one year 6 (43,627) (28,685)
Net current assets 4,196,621 3,397,041
Total assets less current liabilities 31,544,385 30,353,638
Creditors: amounts falling due after more than one year 7 (12,795,774) (12,054,061)
Provisions for liabilities (811,836) (421,397)
Net assets 17,936,775 17,878,180
Capital and reserves
Called up share capital 13,281,877 13,281,877
Profit and loss account 4,654,898 4,596,303
Shareholder's funds 17,936,775 17,878,180
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 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, modified to include the revaluation of investment property at fair value, and in accordance with the provisions of section 1a 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 rent of properties and is recognised by reference to the rents receivable.
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 10 years
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. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Investment properties Fixtures and fittings Total
£ £ £
Cost / valuation
At 1 April 2022 26,845,013 342,700 27,187,713
Additions 230,000 36,824 266,824
Surplus on revaluation 1,125,116 - 1,125,116
Disposals (978,494) - (978,494)
At 30 March 2023 27,221,635 379,524 27,601,159
Depreciation
At 1 April 2022 - 231,118 231,118
Charge for the period - 22,279 22,279
At 30 March 2023 - 253,397 253,397
Net book value
At 30 March 2023 27,221,635 126,127 27,347,762
At 31 March 2022 26,845,013 111,582 26,956,595
Investment properties: 2023 2022
£ £
Historical cost 21,923,808 22,440,963
Cumulative depreciation based on historical cost - -
21,923,808 22,440,963
The investment properties are re-valued each year by the director on an open market basis.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2022 2
At 30 March 2023 2
The company owns 100% of the share capital of Gentle Properties (Selly Oak) Limited and of Harrowbrook Ltd
5 Debtors 2023 2022
£ £
Amounts owed by subsidiaries 2,771,691 2,746,619
Prepayments and accrued income 22,738 13,450
Other debtors 1,440,318 659,725
4,234,747 3,419,794
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan 10,000 10,000
Trade creditors - 3,950
Corporation tax 7,191 4,699
Other taxes and social security costs 36 36
Accruals and deferred income 26,400 10,000
43,627 28,685
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,565,688 8,719,864
Other loans 2,000,000 -
Directors loans 2,230,086 3,334,197
12,795,774 12,054,061
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 8,455,188 8,686,531
The secured bank loans represent loans and mortgages which are secured against properties.
9 Controlling party
The company is under the control of Dr G Fickert.
10 Other information
Gentle Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
504 Bristol Road
Selly Oak
Birmingham
West Midlands
B29 6BD
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