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REGISTERED NUMBER: 13744274 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Gn Property Group Ltd

Gn Property Group Ltd (Registered number: 13744274)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gn Property Group Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: G R Nourse





REGISTERED OFFICE: Suite 43-45
Airport House
Purley Way
Croydon
CR0 0XZ





REGISTERED NUMBER: 13744274 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Gn Property Group Ltd (Registered number: 13744274)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 389,619 389,619

CURRENT ASSETS
Debtors 5 2,290 1,620
Cash at bank 33,691 27,201
35,981 28,821
CREDITORS
Amounts falling due within one year 6 (140,011 ) (138,672 )
NET CURRENT LIABILITIES (104,030 ) (109,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,589

279,768

CREDITORS
Amounts falling due after more than one year 7 (277,670 ) (277,670 )
NET ASSETS 7,919 2,098

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 7,819 1,998
7,919 2,098

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gn Property Group Ltd (Registered number: 13744274)

Balance Sheet - continued
30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





G R Nourse - Director


Gn Property Group Ltd (Registered number: 13744274)

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

1. STATUTORY INFORMATION

Gn Property Group Ltd 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 principal activity of the company continued to be that other letting and operating of own or leased real estate.

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.

TURNOVER
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover comprises revenue recognised by the company in respect of rent receivable from the letting and management of land and property owned by the company during the year.

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Gn Property Group Ltd (Registered number: 13744274)

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

2. ACCOUNTING POLICIES - continued

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that he company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 389,619
NET BOOK VALUE
At 30 November 2024 389,619
At 30 November 2023 389,619

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director.The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,290 1,620

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,355 421
Other creditors 138,656 138,251
140,011 138,672

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Gn Property Group Ltd (Registered number: 13744274)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 277,670 277,670

Amounts falling due in more than five years:

Repayable by instalments
Mortgage Loan more than
5 years 277,670 277,670
277,670 277,670

The directors consider the carrying amounts of long-term liabilities approximate to their fair values.
Legal Mortgage charge at Companies House has been registered by Paragon Bank PLC for the loan taken by company, which contains negative pledge over the property.

8. RESERVES

PROFIT AND RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
G R Nourse
Balance outstanding at start of year (117,400 ) (117,400 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (117,400 ) (117,400 )

10. RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors is an amount due to the director - Gary Robert Nourse of £117,400 (2023 - £117,400). This loan is interest free and repayable on demand.