Registered number
14647460
GELYSE PROPERTIES LTD
Filleted Accounts
28 February 2024
GELYSE PROPERTIES LTD
Registered number: 14647460
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Tangible assets 3 277,500
Current assets
Cash at bank and in hand 694
Creditors: amounts falling due within one year 4 (292,301)
Net current liabilities (291,607)
Net liabilities (14,107)
Capital and reserves
Called up share capital 100
Profit and loss account (14,207)
Shareholders' funds (14,107)
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 and delivered 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.
G Gjeli
Director
Approved by the board on 7 November 2024
GELYSE PROPERTIES LTD
Notes to the Accounts
for the period from 8 February 2023 to 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) 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 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 277,500
At 28 February 2024 277,500
Depreciation
At 28 February 2024 -
Net book value
At 28 February 2024 277,500
4 Creditors: amounts falling due within one year 2024
£
Loans 50,000
Directors Loan Account 242,301
292,301
5 Other information
GELYSE PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/O Connect Accounting Llp, Rear Of Raydean House
15 Western Parade
Barnet
Herts
EN5 1AH
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