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REGISTERED NUMBER: 01232043 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Gaskin Properties Limited

Gaskin Properties Limited (Registered number: 01232043)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gaskin Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J B Gaskin
Miss A P Gaskin





SECRETARY: Mrs P A Gaskin





REGISTERED OFFICE: The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: 01232043 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Gaskin Properties Limited (Registered number: 01232043)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,855 494
Investment property 5 2,968,423 2,968,423
2,971,278 2,968,917

CURRENT ASSETS
Debtors 6 3,935 3,938
Cash at bank 87,717 105,685
91,652 109,623
CREDITORS
Amounts falling due within one year 7 16,408 25,950
NET CURRENT ASSETS 75,244 83,673
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,046,522

3,052,590

CREDITORS
Amounts falling due after more than one
year

8

(7,394

)

(17,958

)

PROVISIONS FOR LIABILITIES (526,300 ) (526,300 )
NET ASSETS 2,512,828 2,508,332

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 1,888,407 1,888,407
Retained earnings 624,321 619,825
SHAREHOLDERS' FUNDS 2,512,828 2,508,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Gaskin Properties Limited (Registered number: 01232043)

Balance Sheet - continued
30 April 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 27 January 2025 and were signed on its behalf by:





Miss A P Gaskin - Director


Gaskin Properties Limited (Registered number: 01232043)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Gaskin Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The company is not part of a group.

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 as modified by the revaluation of certain assets.

Revenue
Revenue represents gross rents received. 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost, less any accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Plant & machinery etc - 33% straight line

Investment property
The investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

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.


Gaskin Properties Limited (Registered number: 01232043)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 605
Additions 3,476
At 30 April 2024 4,081
DEPRECIATION
At 1 May 2023 111
Charge for year 1,115
At 30 April 2024 1,226
NET BOOK VALUE
At 30 April 2024 2,855
At 30 April 2023 494

Gaskin Properties Limited (Registered number: 01232043)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,968,423
NET BOOK VALUE
At 30 April 2024 2,968,423
At 30 April 2023 2,968,423

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2009 1,120,401
Valuation in 2022 1,294,307
Cost 553,715
2,968,423

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 431 -
Other debtors 3,504 3,938
3,935 3,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,346 9,152
Taxation and social security 1,588 10,487
Other creditors 5,474 6,311
16,408 25,950

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,394 17,958

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,806 8,236

The loan is secured by way of a fixed charge over one of the company's investment properties plus a fixed and floating charge over all the property or undertaking of the company.