Registered number
SC473662
GSS REAL ESTATE LTD
Filleted Accounts
31 March 2024
GSS REAL ESTATE LTD
Registered number: SC473662
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 588,114 588,114
Current assets
Debtors 4 4,100 4,100
Cash at bank and in hand 135,657 98,410
139,757 102,510
Creditors: amounts falling due within one year 5 (7,189) (5,209)
Net current assets 132,568 97,301
Total assets less current liabilities 720,682 685,415
Creditors: amounts falling due after more than one year 6 (516,951) (507,604)
Net assets 203,731 177,811
Capital and reserves
Called up share capital 100 100
Profit and loss account 203,631 177,711
Shareholder's funds 203,731 177,811
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Gurnek Singh
Director
Approved by the board on 16 September 2024
GSS REAL ESTATE LTD
Notes to the Accounts
for the year ended 31 March 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).
Turnover
Turnover represents the value, gross of value added tax and discounts, of rental income.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 588,114
At 31 March 2024 588,114
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 588,114
At 31 March 2023 588,114
4 Debtors 2024 2023
£ £
Trade debtors 4,100 4,100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,500 530
Corporation tax 5,689 4,679
7,189 5,209
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 366,951 357,604
Other creditors 150,000 150,000
516,951 507,604
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