IRIS Accounts Production v24.1.9.2 04821136 Board of Directors 1.8.23 31.7.24 31.7.24 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh048211362023-07-31048211362024-07-31048211362023-08-012024-07-31048211362022-07-31048211362022-08-012023-07-31048211362023-07-3104821136ns15:EnglandWales2023-08-012024-07-3104821136ns14:PoundSterling2023-08-012024-07-3104821136ns10:Director12023-08-012024-07-3104821136ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3104821136ns10:SmallEntities2023-08-012024-07-3104821136ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3104821136ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3104821136ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3104821136ns10:AbridgedAccounts2023-08-012024-07-3104821136ns10:Director22023-08-012024-07-3104821136ns10:Director32023-08-012024-07-3104821136ns10:Director42023-08-012024-07-3104821136ns10:CompanySecretary12023-08-012024-07-3104821136ns10:RegisteredOffice2023-08-012024-07-3104821136ns5:CurrentFinancialInstruments2024-07-3104821136ns5:CurrentFinancialInstruments2023-07-3104821136ns5:ShareCapital2024-07-3104821136ns5:ShareCapital2023-07-3104821136ns5:RetainedEarningsAccumulatedLosses2024-07-3104821136ns5:RetainedEarningsAccumulatedLosses2023-07-3104821136ns5:PlantMachinery2023-08-012024-07-3104821136ns5:DeferredTaxation2023-07-3104821136ns5:DeferredTaxation2023-08-012024-07-3104821136ns5:DeferredTaxation2024-07-31
REGISTERED NUMBER: 04821136 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

G & B PROPERTY SALES LIMITED

G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G & B PROPERTY SALES LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTORS: B W Bennett
D Bennett
M Bennett





SECRETARY: B W Bennett





REGISTERED OFFICE: 3 Mellor Road
Cheadle Hulme
Cheadle
Cheshire
SK8 5AT





REGISTERED NUMBER: 04821136 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Chartered Accountants
3 Mellor Road
Cheadle Hulme
Cheadle
Cheshire
SK8 5AT

G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)

ABRIDGED BALANCE SHEET
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 - -
Investments 6 - -
Investment property 7 826,000 795,000
826,000 795,000

CURRENT ASSETS
Debtors 1,679,024 1,709,524
Cash at bank 23,039 24,908
1,702,063 1,734,432
CREDITORS
Amounts falling due within one year (3,857,911 ) (3,707,994 )
NET CURRENT LIABILITIES (2,155,848 ) (1,973,562 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,329,848

)

(1,178,562

)

PROVISIONS FOR LIABILITIES 8 (63,238 ) (42,171 )
NET LIABILITIES (1,393,086 ) (1,220,733 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (1,393,088 ) (1,220,735 )
SHAREHOLDERS' FUNDS (1,393,086 ) (1,220,733 )

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

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

G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)

ABRIDGED BALANCE SHEET - continued
31 July 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





B Bennett - Director


G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

G & B Property Sales 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared on the basis that the directors will continue to provide financial support to the business.

The company is the parent undertaking of a small group and as such is not required by Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The principal accounting policies of the company have remained unchanged from the previous year and are set out below.

Preparation of consolidated financial statements
The financial statements contain information about G & B Property Sales Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 etc - 15% on cost

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.


G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 2,241
DEPRECIATION
At 1 August 2023
and 31 July 2024 2,241
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

6. FIXED ASSET INVESTMENTS

The cost and net book value of the investment in subsidiary undertakings at 31 July 2023 was £Nil (2022 - £Nil).

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 795,000
Revaluations 31,000
At 31 July 2024 826,000
NET BOOK VALUE
At 31 July 2024 826,000
At 31 July 2023 795,000

G & B PROPERTY SALES LIMITED (REGISTERED NUMBER: 04821136)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

7. INVESTMENT PROPERTY - continued

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2014 41,953
Valuation in 2016 105,000
Valuation in 2018 125,000
Valuation in 2022 49,897
Valuation in 2023 (99,897 )
Valuation in 2024 31,000
Cost 573,047
826,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 573,047 573,047

investment property was valued on an open market basis on 31 July 2023 by Thornley Groves Estate Agents .

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 63,238 42,171

Deferred
tax
£   
Balance at 1 August 2023 42,171
Provided during year 21,067
Balance at 31 July 2024 63,238