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REGISTERED NUMBER: 12725356 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

GELSHA PROPERTIES LIMITED

GELSHA PROPERTIES LIMITED (Registered number: 12725356)






Contents of the Financial Statements
for the Year Ended 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GELSHA PROPERTIES LIMITED

Company Information
for the Year Ended 31 JULY 2023







DIRECTORS: Mrs C K Gutowski
Mrs J Horrigan





REGISTERED OFFICE: Suite 2C, Brosnan House
175 Darkes Lane
Potters bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 12725356 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

GELSHA PROPERTIES LIMITED (Registered number: 12725356)

Balance Sheet
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 419,722 448,317

CURRENT ASSETS
Debtors 5 19,532 11,349
Cash at bank and in hand 74,996 59,685
94,528 71,034
CREDITORS
Amounts falling due within one year 6 10,404 14,143
NET CURRENT ASSETS 84,124 56,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

503,846

505,208

CREDITORS
Amounts falling due after more than one year 7 451,865 451,865
NET ASSETS 51,981 53,343

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 51,881 53,243
SHAREHOLDERS' FUNDS 51,981 53,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GELSHA PROPERTIES LIMITED (Registered number: 12725356)

Balance Sheet - continued
31 JULY 2023


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 Board of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by:




Mrs C K Gutowski - Director



Mrs J Horrigan - Director


GELSHA PROPERTIES LIMITED (Registered number: 12725356)

Notes to the Financial Statements
for the Year Ended 31 JULY 2023

1. STATUTORY INFORMATION

GELSHA PROPERTIES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

The company's leasehold property has a remaining life in excess of 50 years and the properties are regularly maintained to a high standard. On this basis, the directors believe that the property does not need to be depreciated as the property value is being maintained and is fairly reflected in the financial statements.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GELSHA PROPERTIES LIMITED (Registered number: 12725356)

Notes to the Financial Statements - continued
for the Year Ended 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 August 2022 448,317 - 448,317
Reclassification/transfer (193,033 ) 193,033 -
At 31 July 2023 255,284 193,033 448,317
DEPRECIATION
Charge for year - 28,595 28,595
At 31 July 2023 - 28,595 28,595
NET BOOK VALUE
At 31 July 2023 255,284 164,438 419,722
At 31 July 2022 448,317 - 448,317

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 19,272 10,824
Prepayments 260 525
19,532 11,349

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Creditors and accruals 9,737 7,046
Tax 667 7,097
10,404 14,143

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Sundry loans 451,865 451,865

8. SECURED DEBTS

Included within sundry loans is an amount of £146,865 that is secured by way of a charge over the company's long leasehold property.

GELSHA PROPERTIES LIMITED (Registered number: 12725356)

Notes to the Financial Statements - continued
for the Year Ended 31 JULY 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
50 Ordinary A Shares £1 50 50
50 Ordinary B Shares £1 50 50
100 100

Each Ordinary A share is entitled to one vote in any circumstances and has equal rights to dividends. The Ordinary A shareholders have control of the company.

The Ordinary B shares have no voting rights but have equal rights to dividends.

10. RELATED PARTY DISCLOSURES

At 31 July 2023 there was an amount totalling £305,000 (2022: £305,000) included within sundry loans due to Environmental & Technical Services Limited, a company in which the directors' father is a company director.

11. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the period by virtue of their combined controlling shareholdings.