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REGISTERED NUMBER: 04878799 (England and Wales)















GIRTON PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GIRTON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C A Jessup
Mrs N Jessup





SECRETARY: C A Jessup





REGISTERED OFFICE: 1 Station Court
Girton Road
Cannock
Staffordshire
WS11 0EJ





REGISTERED NUMBER: 04878799 (England and Wales)

GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 3,661,000 1,881,439

CURRENT ASSETS
Debtors 5 1,244,782 1,703,514
Cash at bank 1,224,366 2,110,524
2,469,148 3,814,038
CREDITORS
Amounts falling due within one year 6 (37,088 ) (41,583 )
NET CURRENT ASSETS 2,432,060 3,772,455
TOTAL ASSETS LESS CURRENT LIABILITIES 6,093,060 5,653,894

PROVISIONS FOR LIABILITIES (223,925 ) (63,551 )
NET ASSETS 5,869,135 5,590,343

CAPITAL AND RESERVES
Called up share capital 7 102 102
Share premium 3,417,594 3,417,594
Revaluation reserve 810,175 329,053
Retained earnings 1,641,264 1,843,594
SHAREHOLDERS' FUNDS 5,869,135 5,590,343

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

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

GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





C A Jessup - Director


GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

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


1. STATUTORY INFORMATION

Girton Properties 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases net of any incentives given to the lessees is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method.

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 Profit and Loss Account, 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.


GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

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


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,881,439
Additions 1,138,065
Revaluations 641,496
At 31 March 2024 3,661,000
NET BOOK VALUE
At 31 March 2024 3,661,000
At 31 March 2023 1,881,439

GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 105,546
Valuation in 2020 101,696
Valuation in 2023 356,089
Valuation in 2024 649,496
Cost 2,448,173
3,661,000

The properties at Dell Close, Stafford, Oak Drive, Wheaton Aston, Shaw Lane, Albrigton, 9 St Andrews Road. Stafford, Unit 1 The Dell, Weir Gardens, Shrewsbury and Majorca were valued by the director on 31 March 2024 on an open market basis at £3,231,000, against their original cost of £1,600,479.

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 725 -
Amounts owed by group undertakings 418,894 456,130
Directors' current accounts - 34,779
VAT 498 -
Prepayments 19,036 16,057
439,153 506,966

Amounts falling due after more than one year:
Amounts owed by group undertakings 805,629 1,196,548

Aggregate amounts 1,244,782 1,703,514

Amounts owed by associates
Amounts owed by associates refer to other companies that are owned by the directors.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,022 -
Tax 30,141 14,189
VAT - 2,097
Other creditors - 9,265
Directors' current accounts 729 -
Accruals and deferred income 5,196 16,032
37,088 41,583

GIRTON PROPERTIES LIMITED (REGISTERED NUMBER: 04878799)

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


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
102 Ordinary £1 102 102

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
C A Jessup
Balance outstanding at start of year 34,778 -
Amounts advanced 247,493 34,778
Amounts repaid (283,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (729 ) 34,778

The loan has been provided interest free and is repayable on demand.

9. RELATED PARTY DISCLOSURES

The parent company of Girton Properties Limited is Girton Investment Holdings Limited, a company incorporated in the UK, which shares the same registered office address.