Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false2023-06-01falsefalseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12025945 2023-06-01 2024-05-31 12025945 2022-06-01 2023-05-31 12025945 2024-05-31 12025945 2023-05-31 12025945 c:Director1 2023-06-01 2024-05-31 12025945 d:FreeholdInvestmentProperty 2024-05-31 12025945 d:FreeholdInvestmentProperty 2023-05-31 12025945 d:CurrentFinancialInstruments 2024-05-31 12025945 d:CurrentFinancialInstruments 2023-05-31 12025945 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 12025945 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12025945 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 12025945 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 12025945 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 12025945 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 12025945 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 12025945 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 12025945 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 12025945 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 12025945 d:ShareCapital 2024-05-31 12025945 d:ShareCapital 2023-05-31 12025945 d:InvestmentPropertiesRevaluationReserve 2024-05-31 12025945 d:InvestmentPropertiesRevaluationReserve 2023-05-31 12025945 d:RetainedEarningsAccumulatedLosses 2024-05-31 12025945 d:RetainedEarningsAccumulatedLosses 2023-05-31 12025945 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 12025945 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 12025945 c:OrdinaryShareClass1 2023-06-01 2024-05-31 12025945 c:OrdinaryShareClass1 2024-05-31 12025945 c:OrdinaryShareClass1 2023-05-31 12025945 c:FRS102 2023-06-01 2024-05-31 12025945 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12025945 c:FullAccounts 2023-06-01 2024-05-31 12025945 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12025945 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12025945









GUNS INVESTMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
GUNS INVESTMENT LTD
REGISTERED NUMBER: 12025945

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,158,791
2,158,791

  
2,158,791
2,158,791

Current assets
  

Debtors: amounts falling due within one year
 5 
2,241
2,191

Cash at bank and in hand
 6 
199
2,043

  
2,440
4,234

Creditors: amounts falling due within one year
 7 
(965,499)
(920,757)

Net current liabilities
  
 
 
(963,059)
 
 
(916,523)

Total assets less current liabilities
  
1,195,732
1,242,268

Creditors: amounts falling due after more than one year
  
(987,946)
(1,048,547)

Provisions for liabilities
  

Deferred tax
  
(55,478)
(55,478)

  
 
 
(55,478)
 
 
(55,478)

Net assets
  
152,308
138,243


Capital and reserves
  

Called up share capital 
 10 
100
100

Investment property reserve
  
166,433
166,433

Profit and loss account
  
(14,225)
(28,290)

  
152,308
138,243


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.

Page 1

 
GUNS INVESTMENT LTD
REGISTERED NUMBER: 12025945
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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: 




Suat Gun
Director

Date: 10 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

GUNS INVESTMENT LTD is a private company limited by share capital, incorporated in England and Wales, registration number 12025945. The address of the registered office is 291 Green Lanes, Palmers Green, London, N13 4XS

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 comprises of rents received by the company during the year.
Turnover is recognised over the period that the rent relates to.

 
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

Borrowing costs

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

Page 3

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.6

Investment Property

Investment property is 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 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.

 
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.

Page 4

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




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


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
2,158,791



At 31 May 2024
2,158,791


Comprising


Cost
1,936,880

Annual revaluation surplus/(deficit):


2023
221,911

At 31 May 2024
2,158,791

The 2024 valuations were made by the Director, on a fair value basis.







5.


Debtors

2024
2023
£
£

Page 5

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.Debtors (continued)


Trade debtors
-
340

Other debtors
2,241
1,851

2,241
2,191



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
199
2,043

199
2,043



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
60,546
60,490

Trade creditors
856
7,670

Other creditors
902,597
851,247

Accruals and deferred income
1,500
1,350

965,499
920,757


Page 6

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
60,546
60,490

Amounts falling due 1-2 years

Bank loans
499,011
496,879

Amounts falling due 2-5 years

Bank loans
181,637
183,825

Amounts falling due after more than 5 years

Bank loans
307,298
367,844

1,048,492
1,109,038


Bank loans totaling £1,048,492 at the year end are secured by way of charge over the company’s investment properties.


9.


Deferred taxation




2024


£






At beginning of year
(55,478)



At end of year
(55,478)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value gain on investment properties
(55,478)
(55,478)

(55,478)
(55,478)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



Page 7

 
GUNS INVESTMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.Share capital (continued)

100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Included within Other Creditors due within less than one year is a loan amount of £618,252 (2023: £536,501 due to a company under common control. The loan is unsecured, free of interest and repayable on demand.
Included within Other Creditors due in less than one year is a loan amount of £276,604 (2023: £313,764) due to the Director. The loan is unsecured, free of interest and repayable on demand.

Page 8