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REGISTERED NUMBER: 12737287 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

GILBERT INVESTMENTS RENTALS LIMITED

GILBERT INVESTMENTS RENTALS LIMITED (REGISTERED NUMBER: 12737287)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GILBERT INVESTMENTS RENTALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Gilbert
Ms L V Gilbert





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 12737287 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

GILBERT INVESTMENTS RENTALS LIMITED (REGISTERED NUMBER: 12737287)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 39,355 48,552
Investment property 4 2,750,000 2,589,955
2,789,355 2,638,507

CURRENT ASSETS
Debtors 5 54,646 58,704
Cash at bank 1,364 10,870
56,010 69,574
CREDITORS
Amounts falling due within one year 6 2,466,421 2,461,239
NET CURRENT LIABILITIES (2,410,411 ) (2,391,665 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,944

246,842

PROVISIONS FOR LIABILITIES 102,158 71,871
NET ASSETS 276,786 174,971

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 7 276,956 179,197
Retained earnings (171 ) (4,227 )
276,786 174,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 30 July 2024 and were signed on its behalf by:





R Gilbert - Director


GILBERT INVESTMENTS RENTALS LIMITED (REGISTERED NUMBER: 12737287)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. 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.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

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 - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

2. EMPLOYEES AND DIRECTORS

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

GILBERT INVESTMENTS RENTALS LIMITED (REGISTERED NUMBER: 12737287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023 75,649
Additions 7,132
At 30 April 2024 82,781
DEPRECIATION
At 1 May 2023 27,097
Charge for year 16,329
At 30 April 2024 43,426
NET BOOK VALUE
At 30 April 2024 39,355
At 30 April 2023 48,552

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,589,955
Additions 29,700
Revaluations 130,345
At 30 April 2024 2,750,000
NET BOOK VALUE
At 30 April 2024 2,750,000
At 30 April 2023 2,589,955

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 238,930
Valuation in 2024 130,345
Cost 2,380,725
2,750,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 53,016 53,016
Prepayments 1,630 5,688
54,646 58,704

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,830 41
Amounts owed to group undertakings 2,379,491 2,378,359
Directors' current accounts 83,060 80,859
Accrued expenses 2,040 1,980
2,466,421 2,461,239

GILBERT INVESTMENTS RENTALS LIMITED (REGISTERED NUMBER: 12737287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. RESERVES
Revaluation
reserve
£   
At 1 May 2023 179,197
Revaluation reserve 97,759

At 30 April 2024 276,956

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year. R Gilbert & Ms L V Gilbert increased their loan to the company. As at 30 April 2024, the company owed them £83,060 (2023: £80,859). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

As there is no majority shareholder the company is controlled by the Board.