Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetruefalse02023-04-01falseThe company traded as investment property company.0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13987177 2023-04-01 2024-03-31 13987177 2022-03-18 2023-03-31 13987177 2024-03-31 13987177 2023-03-31 13987177 c:Director1 2023-04-01 2024-03-31 13987177 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 13987177 d:Buildings d:LongLeaseholdAssets 2024-03-31 13987177 d:Buildings d:LongLeaseholdAssets 2023-03-31 13987177 d:LandBuildings 2024-03-31 13987177 d:LandBuildings 2023-03-31 13987177 d:CurrentFinancialInstruments 2024-03-31 13987177 d:CurrentFinancialInstruments 2023-03-31 13987177 d:Non-currentFinancialInstruments 2024-03-31 13987177 d:Non-currentFinancialInstruments 2023-03-31 13987177 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13987177 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13987177 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13987177 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13987177 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 13987177 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13987177 d:ShareCapital 2023-04-01 2024-03-31 13987177 d:ShareCapital 2024-03-31 13987177 d:ShareCapital 2022-03-18 2023-03-31 13987177 d:ShareCapital 2023-03-31 13987177 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 13987177 d:RetainedEarningsAccumulatedLosses 2024-03-31 13987177 d:RetainedEarningsAccumulatedLosses 2022-03-18 2023-03-31 13987177 d:RetainedEarningsAccumulatedLosses 2023-03-31 13987177 c:FRS102 2023-04-01 2024-03-31 13987177 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13987177 c:AbridgedAccounts 2023-04-01 2024-03-31 13987177 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13987177 5 2023-04-01 2024-03-31 13987177 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 13987177









GS SPV 1 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
GS SPV 1 LIMITED
REGISTERED NUMBER: 13987177

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,595,055
10,388,520

  
10,595,055
10,388,520

Current assets
  

Debtors: amounts falling due after more than one year
 5 
36,595
36,593

Debtors: amounts falling due within one year
 5 
238,932
90,295

Cash at bank and in hand
 6 
616
1,426

  
276,143
128,314

Creditors: amounts falling due within one year
 7 
(282,058)
(105,564)

Net current (liabilities)/assets
  
 
 
(5,915)
 
 
22,750

Total assets less current liabilities
  
10,589,140
10,411,270

Creditors: amounts falling due after more than one year
 8 
(11,728,863)
(10,957,266)

  

Net liabilities
  
(1,139,723)
(545,996)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(1,140,723)
(546,996)

  
(1,139,723)
(545,996)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
Page 1

 
GS SPV 1 LIMITED
REGISTERED NUMBER: 13987177
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

3 January 2025.


Nadia Momin Imam
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
GS SPV 1 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
1,000
(546,996)
(545,996)


Comprehensive income for the Period

Loss for the Period

-
(593,727)
(593,727)


Other comprehensive income for the Period
-
-
-


Total comprehensive income for the Period
-
(593,727)
(593,727)


Total transactions with owners
-
-
-


At 31 March 2024
1,000
(1,140,723)
(1,139,723)


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
GS SPV 1 LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(546,996)
(546,996)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(546,996)
(546,996)


Contributions by and distributions to owners

Shares issued during the period
1,000
-
1,000


Total transactions with owners
1,000
-
1,000


At 31 March 2023
1,000
(546,996)
(545,996)


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The company is a limited liability company. The registered address is:
2nd Floor,
22 Gilbert Street, 
London, 
England,
W1K 5HD

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term 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.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

The average monthly number of employees, including the director, during the Period was as follows:


       31 March
     Period ended
        31 March
        2024
        2023
            No.
            No.





0
0

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)
Page 7

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


At 1 April 2023
10,388,520


Additions
206,535



At 31 March 2024

10,595,055






Net book value



At 31 March 2024
10,595,055



At 31 March 2023
10,388,520




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Long leasehold
10,595,055
10,388,520

10,595,055
10,388,520



5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
36,595
36,593

36,595
36,593


2024
2023
£
£

Due within one year

Trade debtors
(5,876)
-

Other debtors
244,808
90,295
Page 8

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.Debtors (continued)


238,932
90,295



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
616
1,426

616
1,426



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
(30,434)
63,673

Other taxation and social security
22,447
-

Other creditors
182,045
41,891

Accruals and deferred income
108,000
-

282,058
105,564


Page 9

 
GS SPV 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,595,584
6,615,000

Other creditors
5,133,279
4,342,266

11,728,863
10,957,266


The following liabilities were secured:

2024
2023
£
£



Bank Loans
6,595,584
6,615,000

6,595,584
6,615,000

Details of security provided:

The bank loan of £6,595,584 (FY2023 it was £6,615,000) has been secured on the fixed assets of the company via a fixed and floating charge,


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
6,595,584
6,615,000


6,595,584
6,615,000


6,595,584
6,615,000



10.


Related party transactions

As at the year end NMI Property Holdings Ltd, the parent company was owed £2,548,676 (FY 2023, it was £2,164.364) and IPE Group Holding Limited owed £816,926 (FY 2023 it was £410,226). 

 
Page 10