Gentle Properties (Selly Oak) Limited |
Registered number: |
10773457 |
Balance Sheet |
as at 30 March 2023 |
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Notes |
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2023 |
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2022 |
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£ |
£ |
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£ |
£ |
Fixed assets |
Tangible assets |
4 |
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11,424,429 |
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11,445,570 |
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Current assets |
Stocks |
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- |
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81,727 |
Debtors |
5 |
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27,800 |
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33,525 |
Cash at bank and in hand |
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264 |
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56,160 |
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28,064 |
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171,412 |
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Creditors: amounts falling due within one year |
6 |
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(2,102,896) |
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(3,292,576) |
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Net current liabilities |
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(2,074,832) |
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(3,121,164) |
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Total assets less current liabilities |
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9,349,597 |
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8,324,406 |
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Creditors: amounts falling due after more than one year |
7 |
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(9,529,959) |
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(8,502,290) |
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Net liabilities |
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(180,362) |
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(177,884) |
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Capital and reserves |
Called up share capital |
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1 |
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1 |
Profit and loss account |
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(180,363) |
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(177,885) |
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Shareholder's funds |
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(180,362) |
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(177,884) |
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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. |
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G Fickert |
Director |
Approved by the board on 14 March 2024 |
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Gentle Properties (Selly Oak) Limited |
Notes to the Accounts |
for the period from 1 April 2022 to 30 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Stocks |
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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. |
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Investment properties |
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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. |
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Debtors |
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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. |
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs. |
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Taxation |
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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. |
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2 |
Going concern |
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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. |
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3 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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4 |
Tangible fixed assets |
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Investment properties |
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Fixtures and fittings |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 April 2022 |
11,094,079 |
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409,907 |
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11,503,986 |
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At 30 March 2023 |
11,094,079 |
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409,907 |
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11,503,986 |
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Depreciation |
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At 1 April 2022 |
- |
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58,416 |
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58,416 |
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Charge for the period |
- |
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21,141 |
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21,141 |
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At 30 March 2023 |
- |
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79,557 |
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79,557 |
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Net book value |
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At 30 March 2023 |
11,094,079 |
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330,350 |
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11,424,429 |
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At 31 March 2022 |
11,094,079 |
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351,491 |
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11,445,570 |
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The investment properties are re-valued each year by the director on an open market basis. |
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5 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Prepayments and accrued income |
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17,185 |
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16,795 |
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VAT receivable |
10,615 |
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16,730 |
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27,800 |
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33,525 |
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6 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Bank loans |
10,000 |
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10,000 |
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Amounts owed to group undertakings |
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1,230,929 |
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1,197,105 |
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Corporation tax |
6,916 |
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2,538 |
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Directors loans |
192,303 |
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1,077,520 |
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Accruals and deferred income |
20,400 |
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- |
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Other creditors |
642,348 |
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1,005,413 |
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2,102,896 |
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3,292,576 |
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7 |
Creditors: amounts falling due after one year |
2023 |
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2022 |
£ |
£ |
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Bank loans |
9,529,959 |
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8,502,290 |
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8 |
Loans |
2023 |
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2022 |
£ |
£ |
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Creditors include: |
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Secured bank loans |
9,506,626 |
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8,468,957 |
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9 |
Controlling party |
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The company is under the control of Dr G Fickert. |
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10 |
Other information |
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Gentle Properties (Selly Oak) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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504 Bristol Road |
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Selly Oak |
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Birmingham |
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B29 6BD |