Company Registration No. 14496489 (England and Wales)
GIBBS PROPERTY COMPANY LIMITED
Unaudited accounts
for the year ended 30 November 2024
GIBBS PROPERTY COMPANY LIMITED
Unaudited accounts
Contents
GIBBS PROPERTY COMPANY LIMITED
Company Information
for the year ended 30 November 2024
Directors
Benjamin John Gibbs
Thomas Alexander Gibbs
Company Number
14496489 (England and Wales)
Registered Office
OLD BROOKHILL HORSHAM ROAD
COWFOLD
HORSHAM
RH13 8AH
ENGLAND
Accountants
Alison Austin FCA BFP
Home Farm House
St. Leonard's Forest
Horsham
West Sussex
RH13 6PH
GIBBS PROPERTY COMPANY LIMITED
Statement of financial position
as at 30 November 2024
Investment property
452,647
452,647
Cash at bank and in hand
15,467
4,914
Creditors: amounts falling due within one year
(476,947)
(458,324)
Net current liabilities
(459,720)
(453,410)
Total assets less current liabilities
(6,622)
(87)
Provisions for liabilities
Net liabilities
(6,707)
(215)
Called up share capital
100
100
Profit and loss account
(6,807)
(315)
Shareholders' funds
(6,707)
(215)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2025 and were signed on its behalf by
Benjamin John Gibbs
Director
Company Registration No. 14496489
GIBBS PROPERTY COMPANY LIMITED
Notes to the Accounts
for the year ended 30 November 2024
GIBBS PROPERTY COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14496489. The registered office is OLD BROOKHILL HORSHAM ROAD, COWFOLD, HORSHAM, RH13 8AH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The turnover shown in the profit and loss account represents rents received and receivable by the company during the period.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
GIBBS PROPERTY COMPANY LIMITED
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 December 2023
452,647
At 30 November 2024
452,647
Amounts falling due within one year
Accrued income and prepayments
60
-
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
476,482
457,859
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).