Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3121382621579534trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company during the year was that of the provision of temporary staff and subcontractors.2023-02-01false11falsefalse 13868883 2023-02-01 2024-01-31 13868883 2022-01-24 2023-01-31 13868883 2024-01-31 13868883 2023-01-31 13868883 2 2023-02-01 2024-01-31 13868883 d:Director1 2023-02-01 2024-01-31 13868883 e:FreeholdInvestmentProperty 2023-02-01 2024-01-31 13868883 e:FreeholdInvestmentProperty 2024-01-31 13868883 e:FreeholdInvestmentProperty 2023-01-31 13868883 e:FreeholdInvestmentProperty 2 2023-02-01 2024-01-31 13868883 e:LeaseholdInvestmentProperty 2023-02-01 2024-01-31 13868883 e:LeaseholdInvestmentProperty 2024-01-31 13868883 e:LeaseholdInvestmentProperty 2023-01-31 13868883 e:LeaseholdInvestmentProperty 2 2023-02-01 2024-01-31 13868883 e:CurrentFinancialInstruments 2024-01-31 13868883 e:CurrentFinancialInstruments 2023-01-31 13868883 e:Non-currentFinancialInstruments 2024-01-31 13868883 e:Non-currentFinancialInstruments 2023-01-31 13868883 e:CurrentFinancialInstruments e:WithinOneYear 2024-01-31 13868883 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 13868883 e:Non-currentFinancialInstruments e:AfterOneYear 2024-01-31 13868883 e:Non-currentFinancialInstruments e:AfterOneYear 2023-01-31 13868883 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-01-31 13868883 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-01-31 13868883 e:ShareCapital 2024-01-31 13868883 e:ShareCapital 2023-01-31 13868883 e:RetainedEarningsAccumulatedLosses 2024-01-31 13868883 e:RetainedEarningsAccumulatedLosses 2023-01-31 13868883 d:OrdinaryShareClass1 2023-02-01 2024-01-31 13868883 d:OrdinaryShareClass1 2024-01-31 13868883 d:OrdinaryShareClass1 2023-01-31 13868883 d:FRS102 2023-02-01 2024-01-31 13868883 d:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13868883 d:FullAccounts 2023-02-01 2024-01-31 13868883 d:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13868883 6 2023-02-01 2024-01-31 13868883 e:Right-of-useInvestmentProperty 2023-02-01 2024-01-31 13868883 e:Right-of-useInvestmentProperty 2024-01-31 13868883 e:Right-of-useInvestmentProperty 2023-01-31 13868883 e:Right-of-useInvestmentProperty 2 2023-02-01 2024-01-31 13868883 f:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13868883










GTS PROPERTY SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
GTS PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 13868883

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
-
10,000

Investment property
 5 
1,069,131
789,767

  
1,069,131
799,767

Current assets
  

Debtors: amounts falling due within one year
 6 
1
89,440

Cash at bank and in hand
  
19,460
8,490

  
19,461
97,930

Creditors: amounts falling due within one year
 7 
(567,652)
(349,668)

Net current liabilities
  
 
 
(548,191)
 
 
(251,738)

Total assets less current liabilities
  
520,940
548,029

Creditors: amounts falling due after more than one year
 8 
(552,215)
(552,215)

  

Net liabilities
  
(31,275)
(4,186)


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
(31,276)
(4,187)

  
(31,275)
(4,186)


Page 1

 
GTS PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 13868883
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared 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 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 statement of comprehensive income 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 by: 



R Madlani
Director

Date: 31 January 2025

The notes on pages 3 to 7 form part of these financial statements.
 

Page 2

 
GTS PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

GTS Property Services Ltd is a company limited by shares incorporated in England and Wales. The address of the registered office is given in the company's information page of these financial statements.
The company's functional and presentational currency is GBP and the financial statements are rounded to the nearest £.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover represents the fair value of the rent receivable measured on an accruals basis and in accordance with the substance of the relevant tenancy agreements.

 
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.

 
2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.5

Investment properties

Investment properties are carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in Statement of comprehensive income.

Page 3

 
GTS PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
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.

 
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.

 
2.10

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, loans to related parties and investments in ordinary shares.

  
2.11

Comparative

The comparatives are for the period 22 January 2022 to 31 January 2023.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
GTS PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Fixed asset investments





Investments

£



Valuation


At 1 February 2023
10,000


Amounts written off
(10,000)



At 31 January 2024
-





5.


Investment properties


Freehold investment property
Long term leasehold investment property
Assets under construction
Total

£
£
£
£



Valuation


At 1 February 2023
-
789,767
-
789,767


Additions at cost
154,161
-
153,521
307,682


Deficit on revaluation 
(4,625)
(23,693)
-
(28,318)



At 31 January 2024
149,536
766,074
153,521
1,069,131

The investment properties are valued by the director on an open market value for existing use basis.







6.


Debtors

2024
2023
£
£


Other debtors
-
89,439

Called up share capital not paid
1
1

1
89,440


Page 5

 
GTS PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
565,552
347,668

Accruals and deferred income
2,100
2,000

567,652
349,668





8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Non - bank loan
552,215
552,215

552,215
552,215


The loan is secured over the leasehold property that the company owns.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Non - bank loan
552,215
552,215

552,215
552,215


The loan is secured over the leasehold property that the company owns. 
The loan is for 25 years and bears fixed interests of 2.69% for the first two years, then a variable rate of 5.40% above the Bank of England base rate thereafter. 

Page 6

 
GTS PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Deferred taxation


There is a deferred tax asset of £5,923 which has not been recognised in the accounts.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



12.


Related party transactions

At the 31 January 2024, the company owed GTS Labour Hire And Construction Limited £547,167 (2023: £332,592) a company in which R Madlani is a shareholder and director. This amount is interest free and repayable on demand. 


13.


Controlling party

R Madlani is the controlling party.

 
Page 7