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REGISTERED NUMBER: 09425383 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Gibson Investment Properties Limited

Gibson Investment Properties Limited (Registered number: 09425383)

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


Gibson Investment Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: A C Gibson





REGISTERED OFFICE: 13 Pack Lane
Oakley
Basingstoke
Hampshire
RG23 7BD





REGISTERED NUMBER: 09425383 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Gibson Investment Properties Limited (Registered number: 09425383)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,108,043 1,897,500

CURRENT ASSETS
Debtors 5 868 1,688
Cash at bank 28,351 15,217
29,219 16,905
CREDITORS
Amounts falling due within one year 6 1,228,119 1,056,278
NET CURRENT LIABILITIES (1,198,900 ) (1,039,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,143

858,127

PROVISIONS FOR LIABILITIES 8 120,912 120,912
NET ASSETS 788,231 737,215

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 458,543 458,543
Retained earnings 329,588 278,572
SHAREHOLDERS' FUNDS 788,231 737,215

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 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.

Gibson Investment Properties Limited (Registered number: 09425383)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:





A C Gibson - Director


Gibson Investment Properties Limited (Registered number: 09425383)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Gibson Investment 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.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Financial instruments
Debtors and creditors payable/receivable 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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.


Gibson Investment Properties Limited (Registered number: 09425383)

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, adjusted for indexation where applicable.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,897,500
Additions 210,543
At 31 March 2024 2,108,043
NET BOOK VALUE
At 31 March 2024 2,108,043
At 31 March 2023 1,897,500


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 868 1,688

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 13,291 9,034
Other creditors 1,214,828 1,047,244
1,228,119 1,056,278

Gibson Investment Properties Limited (Registered number: 09425383)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Shareholder loans 889,150 708,150
Director's loan 323,158 336,754
1,212,308 1,044,904

The director and shareholder loans are secured by a legal charge over the investment properties.

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 120,912 120,912

Deferred
tax
£   
Balance at 1 April 2023 120,912
Revalue investment properties
Balance at 31 March 2024 120,912

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 458,543

11. RELATED PARTY DISCLOSURES

At the year end the total amount due to the director was £323,158 (2023: £336,754).

At the year end the total amount due to shareholders was £889,150 (2023: £708,150).