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REGISTERED NUMBER: 07302993 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

GAP PROPERTY SERVICES (LEICESTER)
LIMITED

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GAP PROPERTY SERVICES (LEICESTER)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr B Hagger
Mr R Hagger





REGISTERED OFFICE: Unit D, Sandown Court
Station Road
Glenfield
Leicester
Leicestershire
LE3 8BT





REGISTERED NUMBER: 07302993 (England and Wales)

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 506,756 602,219

CURRENT ASSETS
Stocks 318,151 223,234
Debtors 5 1,953,876 3,246,954
Cash at bank and in hand 1,101,976 1,303,315
3,374,003 4,773,503
CREDITORS
Amounts falling due within one year 6 1,526,131 4,028,111
NET CURRENT ASSETS 1,847,872 745,392
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,354,628

1,347,611

CREDITORS
Amounts falling due after more than one year 7 (146,294 ) (256,597 )

PROVISIONS FOR LIABILITIES (84,840 ) (106,034 )
NET ASSETS 2,123,494 984,980

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,123,394 984,880
SHAREHOLDERS' FUNDS 2,123,494 984,980

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.

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

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.

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 20 November 2024 and were signed on its behalf by:




Mr B Hagger - Director



Mr R Hagger - Director


GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

GAP Property Services (Leicester) 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.

Turnover
Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 19 ) .

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023 15,545 66,566 855,100 937,211
Additions - 1,421 62,734 64,155
Disposals - - (30,028 ) (30,028 )
At 31 July 2024 15,545 67,987 887,806 971,338
DEPRECIATION
At 1 August 2023 13,276 31,650 290,066 334,992
Charge for year 454 7,007 143,762 151,223
Eliminated on disposal - - (21,633 ) (21,633 )
At 31 July 2024 13,730 38,657 412,195 464,582
NET BOOK VALUE
At 31 July 2024 1,815 29,330 475,611 506,756
At 31 July 2023 2,269 34,916 565,034 602,219

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 147,311
DEPRECIATION
At 1 August 2023 40,683
Charge for year 26,657
At 31 July 2024 67,340
NET BOOK VALUE
At 31 July 2024 79,971
At 31 July 2023 106,628

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,515,752 1,344,630
Amounts owed by group undertakings 123,841 -
Amounts recoverable on contract 68,606 -
Other debtors 245,677 1,902,324
1,953,876 3,246,954

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 90,000 90,000
Hire purchase contracts 20,304 22,595
Trade creditors 713,458 463,052
Amounts owed to group undertakings - 2,513,554
Taxation and social security 483,592 375,876
Other creditors 218,777 563,034
1,526,131 4,028,111

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 131,667 221,667
Hire purchase contracts 14,627 34,930
146,294 256,597

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr B Hagger
Balance outstanding at start of year 4,099 164,061
Amounts advanced 498,821 369,112
Amounts repaid (502,703 ) (529,074 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 217 4,099

GAP PROPERTY SERVICES (LEICESTER)
LIMITED (REGISTERED NUMBER: 07302993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr R Hagger
Balance outstanding at start of year 702 154,762
Amounts advanced 542,983 387,348
Amounts repaid (543,468 ) (541,408 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 217 702

The loans are repayable on demand and interest is charged at HMRC's official rate.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Hagger Group Holdings Limited.