IRIS Accounts Production v24.1.9.2 04266348 director 1.2.23 31.1.24 31.1.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042663482023-01-31042663482024-01-31042663482023-02-012024-01-31042663482022-01-31042663482022-02-012023-01-31042663482023-01-3104266348ns15:EnglandWales2023-02-012024-01-3104266348ns14:PoundSterling2023-02-012024-01-3104266348ns10:Director12023-02-012024-01-3104266348ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3104266348ns10:SmallEntities2023-02-012024-01-3104266348ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3104266348ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3104266348ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104266348ns10:FullAccounts2023-02-012024-01-3104266348ns10:CompanySecretary12023-02-012024-01-3104266348ns10:RegisteredOffice2023-02-012024-01-3104266348ns5:CurrentFinancialInstruments2024-01-3104266348ns5:CurrentFinancialInstruments2023-01-3104266348ns5:Non-currentFinancialInstruments2024-01-3104266348ns5:Non-currentFinancialInstruments2023-01-3104266348ns5:ShareCapital2024-01-3104266348ns5:ShareCapital2023-01-3104266348ns5:FurtherSpecificReserve3ComponentTotalEquity2024-01-3104266348ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3104266348ns5:RetainedEarningsAccumulatedLosses2024-01-3104266348ns5:RetainedEarningsAccumulatedLosses2023-01-3104266348ns5:PlantMachinery2023-02-012024-01-3104266348ns5:FurnitureFittings2023-02-012024-01-3104266348ns5:MotorVehicles2023-02-012024-01-3104266348ns5:ComputerEquipment2023-02-012024-01-3104266348ns5:LandBuildings2023-01-3104266348ns5:PlantMachinery2023-01-3104266348ns5:FurnitureFittings2023-01-3104266348ns5:LandBuildings2023-02-012024-01-3104266348ns5:LandBuildings2024-01-3104266348ns5:PlantMachinery2024-01-3104266348ns5:FurnitureFittings2024-01-3104266348ns5:LandBuildings2023-01-3104266348ns5:PlantMachinery2023-01-3104266348ns5:FurnitureFittings2023-01-3104266348ns5:MotorVehicles2023-01-3104266348ns5:ComputerEquipment2023-01-3104266348ns5:MotorVehicles2024-01-3104266348ns5:ComputerEquipment2024-01-3104266348ns5:MotorVehicles2023-01-3104266348ns5:ComputerEquipment2023-01-3104266348ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3104266348ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3104266348ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3104266348ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3104266348ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-01-3104266348ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-01-3104266348ns5:Secured2024-01-3104266348ns5:Secured2023-01-31
REGISTERED NUMBER: 04266348 (England and Wales)















GAP PROPERTY SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






GAP PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04266348)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


GAP PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: G A Piggott





SECRETARY: L A Piggott





REGISTERED OFFICE: 1 Town Hall Street
Grimsby
N E Lincolnshire
DN31 1HN





REGISTERED NUMBER: 04266348 (England and Wales)





ACCOUNTANTS: Xeinadin Grimsby
28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB

GAP PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04266348)

BALANCE SHEET
31ST JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,209,070 3,384,341

CURRENT ASSETS
Cash at bank 144,732 130,000

CREDITORS
Amounts falling due within one year 5 187,961 174,330
NET CURRENT LIABILITIES (43,229 ) (44,330 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,165,841

3,340,011

CREDITORS
Amounts falling due after more than one
year

6

(678,769

)

(784,193

)

PROVISIONS FOR LIABILITIES (320,682 ) (291,197 )
NET ASSETS 2,166,390 2,264,621

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 962,044 1,152,041
Retained earnings 1,204,246 1,112,480
SHAREHOLDERS' FUNDS 2,166,390 2,264,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8th August 2024 and were signed by:





G A Piggott - Director


GAP PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04266348)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

GAP Property Services 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents income generated from the companies principal activity on continuing operations.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - at varying rates on cost

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 NIL (2023 - NIL).

GAP PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04266348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1st February 2023 3,344,000 2,000 16,152
Revaluations (160,512 ) - -
At 31st January 2024 3,183,488 2,000 16,152
DEPRECIATION
At 1st February 2023 - 500 16,152
Charge for year - 500 -
At 31st January 2024 - 1,000 16,152
NET BOOK VALUE
At 31st January 2024 3,183,488 1,000 -
At 31st January 2023 3,344,000 1,500 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1st February 2023 69,614 12,427 3,444,193
Revaluations - - (160,512 )
At 31st January 2024 69,614 12,427 3,283,681
DEPRECIATION
At 1st February 2023 31,604 11,596 59,852
Charge for year 13,430 829 14,759
At 31st January 2024 45,034 12,425 74,611
NET BOOK VALUE
At 31st January 2024 24,580 2 3,209,070
At 31st January 2023 38,010 831 3,384,341

Cost or valuation at 31st January 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2023 1,282,726 - -
Cost 1,900,762 2,000 16,152
3,183,488 2,000 16,152

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 1,282,726
Cost 69,614 12,427 2,000,955
69,614 12,427 3,283,681

GAP PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04266348)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 89,463 89,464
Loan account 1,786 2,786
Tax 40,387 29,275
Social security and other taxes - (2,089 )
Other creditors 51,512 57,733
Accrued expenses 4,813 (2,839 )
187,961 174,330

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 89,463 89,463
Bank loans - 2-5 years 235,742 246,060
Bank loans more 5 yr by instal 335,119 410,703
Directors' loan accounts 18,445 37,967
678,769 784,193

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 335,119 410,703

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 749,787 835,690

The bank loans and mortgages are secured on the company's freehold properties.

8. ULTIMATE CONTROLLING PARTY

The controlling party is G A Piggott.