Registered number
SC648700
GS PROPERTIES (FIFE) LTD
Filleted Accounts
31 December 2023
GS PROPERTIES (FIFE) LTD
Registered number: SC648700
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 65,000 65,000
Current assets
Cash at bank and in hand 2,780 5,318
Creditors: amounts falling due within one year 4 (599) (970)
Net current assets 2,181 4,348
Total assets less current liabilities 67,181 69,348
Creditors: amounts falling due after more than one year 5 (63,562) (67,670)
Net assets 3,619 1,678
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,519 1,578
Shareholders' funds 3,619 1,678
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Swan
Director
Approved by the board on 19 July 2024
GS PROPERTIES (FIFE) LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rental income.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 65,000
At 31 December 2023 65,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 65,000
At 31 December 2022 65,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 370
Other creditors 599 600
599 970
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 63,562 67,670
6 Other information
GS PROPERTIES (FIFE) LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
26 The Beeches
Lochgelly
Fife
KY5 9QB
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