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Registered Number: 04558397
England and Wales

 

 

 

GW PROPERTY SERVICES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Graham Weeks
Registered Number 04558397
Registered Office 53 Orchard Avenue
Shirley
Croydon
Surrey
CR0 7NE
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
Secretary Graham Weeks
1
Report to the director on the preparation of the unaudited statutory accounts of GW Property Services Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GW Property Services Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of GW Property Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of GW Property Services Ltd and state those matters that we have agreed to state to the Board of Directors of GW Property Services Ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GW Property Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that GW Property Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of GW Property Services Ltd.You consider that GW Property Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of GW Property Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 December 2023.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
28 March 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 30,000    30,000 
Tangible fixed assets 4 4,784    6,379 
34,784    36,379 
Current assets      
Debtors 5   590 
Cash at bank and in hand 4,475    16,129 
4,475    16,719 
Creditors: amount falling due within one year 6 (94,858)   (103,565)
Net current assets (90,383)   (86,846)
 
Total assets less current liabilities (55,599)   (50,467)
Net assets (55,599)   (50,467)
 

Capital and reserves
     
Called up share capital 7 2    2 
Profit and loss account (55,601)   (50,469)
Shareholder's funds (55,599)   (50,467)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 March 2024 and were signed by:


-------------------------------
Graham Weeks
Director
3
General Information
GW Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 04558397, registration address 53 Orchard Avenue, Shirley, Croydon, Surrey, CR0 7NE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the profit and loss account.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 30,000    30,000 
Additions  
Disposals  
At 31 December 2023 30,000    30,000 
Amortisation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
At 31 December 2023 30,000    30,000 
At 31 December 2022 30,000    30,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 January 2023 2,069    26,457    28,526 
Additions    
Disposals    
At 31 December 2023 2,069    26,457    28,526 
Depreciation
At 01 January 2023 2,026    20,121    22,147 
Charge for year 11    1,584    1,595 
On disposals    
At 31 December 2023 2,037    21,705    23,742 
Net book values
Closing balance as at 31 December 2023 32    4,752    4,784 
Opening balance as at 01 January 2023 43    6,336    6,379 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income   590 
  590 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
PAYE & NIC Creditor 1,765   
Obligations under HP/Financial Leases   1,246 
Directors Current Account 89,845    88,957 
VAT Control Account 3,248    13,362 
94,858    103,565 

7.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

4