GSH Residential Limited
Registered number: 10576578
Statement of Financial Position
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 455,000 340,000
Current assets
Debtors 5 39 1,511
Cash at bank and in hand 388 462
427 1,973
Creditors: amounts falling due within one year 6 (1,099) (1,329)
Net current (liabilities)/assets (672) 644
Total assets less current liabilities 454,328 340,644
Creditors: amounts falling due after more than one year 7 (412,100) (301,710)
Provisions for liabilities (10,944) (10,593)
Net assets 31,284 28,341
Capital and reserves
Called up share capital 100 100
Fair value reserve 8 46,654 45,157
Profit and loss account (15,470) (16,916)
Shareholders' funds 31,284 28,341
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms A M Stiell
Director
Approved by the board on 28 October 2024
GSH Residential Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the charging of rents. Turnover from the charging of rents is recognised on the accruals basis.
Investments
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Exceptional items 2024 2023
£ £
Value adjustments on fixed assets and current asset investments (1,848) -
(1,848) -
3 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
4 Tangible fixed assets
Investment properties
£
Cost
At 1 February 2023 340,000
Additions 113,152
Fair value movements 1,848
At 31 January 2024 455,000
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 455,000
At 31 January 2023 340,000
5 Debtors 2024 2023
£ £
Prepayments 39 41
Other debtors - 1,470
39 1,511
6 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 882 1,207
Corporation tax 209 -
Other taxes and social security costs - 122
Other creditors 8 -
1,099 1,329
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 412,100 301,710
8 Fair value reserve 2024 2023
£ £
At 1 February 2023 45,157 45,157
Gain on revaluation of Investment properties 1,848 -
Deferred taxation arising on the revaluation of Investment properties (351) -
At 31 January 2024 46,654 45,157
9 Other information
GSH Residential Limited is a private company limited by shares and incorporated in England. Its registered office is:
Meadowview Cottage
Thornton Hough
Wirral
Merseyside
CH63 4JX
GSH Residential Limited 10576578 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Ms A M Stiell No description of principal activity 10576578 2022-02-01 2023-01-31 10576578 core:RevaluationReserve core:LandBuildings 2022-02-01 2023-01-31 10576578 core:RevaluationReserve 2022-02-01 2023-01-31 10576578 core:WithinOneYear 2023-01-31 10576578 core:AfterOneYear 2023-01-31 10576578 core:ShareCapital 2023-01-31 10576578 core:OtherReservesSubtotal 2023-01-31 10576578 core:RetainedEarningsAccumulatedLosses 2023-01-31 10576578 core:RevaluationReserve 2022-01-31 10576578 2023-02-01 2024-01-31 10576578 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10576578 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10576578 bus:Director40 2023-02-01 2024-01-31 10576578 1 2023-02-01 2024-01-31 10576578 2 2023-02-01 2024-01-31 10576578 core:LandBuildings 2023-02-01 2024-01-31 10576578 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 10576578 core:RevaluationReserve 2023-02-01 2024-01-31 10576578 countries:England 2023-02-01 2024-01-31 10576578 bus:FRS102 2023-02-01 2024-01-31 10576578 bus:FilletedAccounts 2023-02-01 2024-01-31 10576578 2024-01-31 10576578 core:WithinOneYear 2024-01-31 10576578 core:AfterOneYear 2024-01-31 10576578 core:ShareCapital 2024-01-31 10576578 core:OtherReservesSubtotal 2024-01-31 10576578 core:RetainedEarningsAccumulatedLosses 2024-01-31 10576578 core:LandBuildings 2024-01-31 10576578 core:RevaluationReserve 2024-01-31 10576578 2023-01-31 10576578 core:LandBuildings 2023-01-31 10576578 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure