Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3112023-03-17falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14738004 2023-03-16 14738004 2023-03-17 2024-03-31 14738004 2022-04-01 2023-03-16 14738004 2024-03-31 14738004 c:CompanySecretary1 2023-03-17 2024-03-31 14738004 c:Director1 2023-03-17 2024-03-31 14738004 c:Director1 2024-03-31 14738004 c:RegisteredOffice 2023-03-17 2024-03-31 14738004 d:ComputerEquipment 2023-03-17 2024-03-31 14738004 d:ComputerEquipment 2024-03-31 14738004 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-17 2024-03-31 14738004 d:FreeholdInvestmentProperty 2023-03-17 2024-03-31 14738004 d:FreeholdInvestmentProperty 2024-03-31 14738004 d:FreeholdInvestmentProperty 2 2023-03-17 2024-03-31 14738004 d:CurrentFinancialInstruments 2024-03-31 14738004 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14738004 d:ShareCapital 2024-03-31 14738004 d:InvestmentPropertiesRevaluationReserve 2024-03-31 14738004 d:OtherMiscellaneousReserve 2023-03-17 2024-03-31 14738004 d:RetainedEarningsAccumulatedLosses 2023-03-17 2024-03-31 14738004 d:RetainedEarningsAccumulatedLosses 2024-03-31 14738004 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 14738004 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 14738004 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 14738004 d:OtherDeferredTax 2024-03-31 14738004 c:OrdinaryShareClass1 2023-03-17 2024-03-31 14738004 c:OrdinaryShareClass1 2024-03-31 14738004 c:OrdinaryShareClass2 2023-03-17 2024-03-31 14738004 c:OrdinaryShareClass2 2024-03-31 14738004 c:FRS102 2023-03-17 2024-03-31 14738004 c:AuditExempt-NoAccountantsReport 2023-03-17 2024-03-31 14738004 c:FullAccounts 2023-03-17 2024-03-31 14738004 c:PrivateLimitedCompanyLtd 2023-03-17 2024-03-31 14738004 f:PoundSterling 2023-03-17 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14738004










GK RESIDENTIAL LIMITED








UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
GK RESIDENTIAL LIMITED
 

COMPANY INFORMATION


Director
A K Khan (appointed 17 March 2023)




Company secretary
Auker Hutton Secretaries Limited



Registered number
14738004



Registered office
The Stables
Little Coldharbour Farm

Tong Lane, Lamberhurst

Tunbridge Wells

Kent

TN3 8AD




Accountants
Auker Hutton Accountancy Limited
Chartered Certified Accountants

The Stables

Little Coldharbour Farm

Tong Lane, Lamberhurst

Tunbridge Wells

Kent

TN3 8AD





 
GK RESIDENTIAL LIMITED
 

CONTENTS



Page
Director's report
 
 
1
Statement of income and retained earnings
 
 
2
Balance sheet
 
 
3 - 4
Notes to the financial statements
 
 
5 - 10


 
GK RESIDENTIAL LIMITED
 

 
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 MARCH 2024

The director presents his report and the financial statements for the period ended 31 March 2024.

Director

The director who served during the period was:

A K Khan (appointed 17 March 2023)

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





A K Khan
Director

Date: 6 September 2024

Page 1

 
GK RESIDENTIAL LIMITED
 

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE PERIOD ENDED 31 MARCH 2024

2024
Note
£

  

Turnover
  
13,500

Cost of sales
  
(29,092)

Gross (loss)/profit
  
(15,592)

Administrative expenses
  
(18,797)

Gain from changes in fair value of investment property
  
17,807

Operating (loss)/profit
  
(16,582)

Tax on (loss)/profit
  
3,151

(Loss)/profit after tax
  
(13,431)

  

  

Loss for the period
  
(13,431)

Retained earnings at the end of the period
  
(13,431)
The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
GK RESIDENTIAL LIMITED
REGISTERED NUMBER: 14738004

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
1,146

Investment property
 5 
275,000

  
276,146

Current assets
  

Debtors: amounts falling due within one year
 6 
5,620

Cash at bank and in hand
 7 
1,229

  
6,849

Creditors: amounts falling due within one year
 8 
(296,126)

Net current (liabilities)/assets
  
 
 
(289,277)

Total assets less current liabilities
  
(13,131)

  

Net (liabilities)/assets
  
(13,131)


Capital and reserves
  

Called up share capital 
 11 
300

Investment property reserve
  
14,424

Profit and loss account
  
(27,855)

  
(13,131)


Page 3

 
GK RESIDENTIAL LIMITED
REGISTERED NUMBER: 14738004

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A K Khan
Director

Date: 6 September 2024

The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


2.


General information

GK Residential Limited is a limited company incorporated in England and Wales. The Company's registered office address is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.

Page 7

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
1,279



At 31 March 2024

1,279



Depreciation


Charge for the period
133



At 31 March 2024

133



Net book value



At 31 March 2024
1,146


5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
257,193


Surplus on revaluation
17,807



At 31 March 2024
275,000

The 2024 valuations were made by Connells Survey and Valuation Limited, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
257,193

Page 8

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

2024
£


Other debtors
2,469

Deferred taxation
3,151

5,620



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
1,229



8.


Creditors: Amounts falling due within one year

2024
£

Director's loan account
293,752

Other creditors
2,374

296,126



9.


Financial instruments

2024
£

Financial assets


Financial assets measured at fair value through profit or loss
1,229




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand

Page 9

 
GK RESIDENTIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Deferred taxation



2024


£






Charged to profit or loss
3,151



At end of year
3,151

The deferred tax asset is made up as follows:

2024
£


Accelerated capital allowances
(218)

Tax losses carried forward
6,752

Gains from changes in fair value
(3,383)

3,151


11.


Share capital

2024
£
Allotted, called up and fully paid


150 A Ordinary shares of £1.00 each
150
150 B ordinary shares of £1.00 each
150

300


During the period 150 A Ordinary shares of £1.00 each and 150 B Ordinary shares of £1.00 each were allotted and fully paid at par.


12.


Reserves

Other reserves

Undistributable reserves include the movement in the fair value of the investment property.

Profit and loss account

Includes all retained profits and losses from trading.


Page 10