IRIS Accounts Production v24.2.0.383 06908433 director 1.6.23 31.5.24 31.5.24 0 0 false true false false true false Fair value model Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069084332023-05-31069084332024-05-31069084332023-06-012024-05-31069084332022-05-31069084332022-06-012023-05-31069084332023-05-3106908433ns15:EnglandWales2023-06-012024-05-3106908433ns14:PoundSterling2023-06-012024-05-3106908433ns10:Director12023-06-012024-05-3106908433ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3106908433ns10:SmallEntities2023-06-012024-05-3106908433ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3106908433ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3106908433ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3106908433ns10:FullAccounts2023-06-012024-05-3106908433ns10:OrdinaryShareClass12023-06-012024-05-3106908433ns10:RegisteredOffice2023-06-012024-05-3106908433ns5:CurrentFinancialInstruments2024-05-3106908433ns5:CurrentFinancialInstruments2023-05-3106908433ns5:Non-currentFinancialInstruments2024-05-3106908433ns5:Non-currentFinancialInstruments2023-05-3106908433ns5:ShareCapital2024-05-3106908433ns5:ShareCapital2023-05-3106908433ns5:RetainedEarningsAccumulatedLosses2024-05-3106908433ns5:RetainedEarningsAccumulatedLosses2023-05-3106908433ns5:PlantMachinery2023-06-012024-05-3106908433ns5:PlantMachinery2023-05-3106908433ns5:FurnitureFittings2023-05-3106908433ns5:FurnitureFittings2023-06-012024-05-3106908433ns5:PlantMachinery2024-05-3106908433ns5:FurnitureFittings2024-05-3106908433ns5:PlantMachinery2023-05-3106908433ns5:FurnitureFittings2023-05-3106908433ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3106908433ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3106908433ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3106908433ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3106908433ns5:Secured2024-05-3106908433ns5:Secured2023-05-3106908433ns5:DeferredTaxation2023-05-3106908433ns5:DeferredTaxation2024-05-3106908433ns10:OrdinaryShareClass12024-05-3106908433ns5:RetainedEarningsAccumulatedLosses2023-05-3106908433ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: 06908433 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

GFS PROPERTY INVESTMENTS LIMITED

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GFS PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: B S Binning



REGISTERED OFFICE: 2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



REGISTERED NUMBER: 06908433 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds TSB Bank plc
116 High Street
Smethwick
West Midlands
B66 1AE

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 852 2,356
Investment property 5 399,000 399,000
399,852 401,356

CURRENT ASSETS
Debtors 6 191 516
Cash at bank 22,081 14,922
22,272 15,438
CREDITORS
Amounts falling due within one year 7 (228,806 ) (228,470 )
NET CURRENT LIABILITIES (206,534 ) (213,032 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,318

188,324

CREDITORS
Amounts falling due after more than one
year

8

(228,374

)

(228,360

)

PROVISIONS FOR LIABILITIES 10 - (17 )
NET LIABILITIES (35,056 ) (40,053 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (35,156 ) (40,153 )
SHAREHOLDERS' FUNDS (35,056 ) (40,053 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

BALANCE SHEET - continued
31 MAY 2024


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 12 September 2024 and were signed by:





B S Binning - Director


GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

GFS Property Investments 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.

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 - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

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


4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings
machinery & equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 52,150 4,010 56,160
DEPRECIATION
At 1 June 2023 50,931 2,873 53,804
Charge for year 1,219 285 1,504
At 31 May 2024 52,150 3,158 55,308
NET BOOK VALUE
At 31 May 2024 - 852 852
At 31 May 2023 1,219 1,137 2,356

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 399,000
NET BOOK VALUE
At 31 May 2024 399,000
At 31 May 2023 399,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 3
Deferred tax asset 191 -
Prepayments - 513
191 516

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 1,380 529
Other creditors 223,673 224,188
Directors' loan accounts 2,881 2,881
Accruals and deferred income 872 872
228,806 228,470

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 228,374 228,360

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 228,374 228,360

10. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 17

Deferred
tax
£   
Balance at 1 June 2023 17
Credited during the year (208 )
Balance at 31 May 2024 (191 )

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 June 2023 (40,153 )
Profit for the year 4,997
At 31 May 2024 (35,156 )

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 May 2024 there was a loan from Mr B S Binning of £2,881 (2023: £2,881). This unsecured loan is interest free and repayable on demand.

GFS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 06908433)

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


14. RELATED PARTY DISCLOSURES

At 31 May 2024 there was a loan from Global Framing and Supplies Limited of £223,673 (2023: £224,188). A company in which Mr B S Binning is a director. This unsecured loan is interest free and repayable on demand.