Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30No description of principal activity2023-07-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05110024 2023-07-01 2024-06-30 05110024 2022-07-01 2023-06-30 05110024 2024-06-30 05110024 2023-06-30 05110024 c:Director5 2023-07-01 2024-06-30 05110024 d:FreeholdInvestmentProperty 2024-06-30 05110024 d:FreeholdInvestmentProperty 2023-06-30 05110024 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 05110024 d:CurrentFinancialInstruments 2024-06-30 05110024 d:CurrentFinancialInstruments 2023-06-30 05110024 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05110024 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05110024 d:ShareCapital 2024-06-30 05110024 d:ShareCapital 2023-06-30 05110024 d:SharePremium 2024-06-30 05110024 d:SharePremium 2023-06-30 05110024 d:RetainedEarningsAccumulatedLosses 2024-06-30 05110024 d:RetainedEarningsAccumulatedLosses 2023-06-30 05110024 c:FRS102 2023-07-01 2024-06-30 05110024 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05110024 c:FullAccounts 2023-07-01 2024-06-30 05110024 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05110024 2 2023-07-01 2024-06-30 05110024 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 05110024









GILCO PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
GILCO PROPERTIES LIMITED
REGISTERED NUMBER: 05110024

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Restated 2023
Note
£
£

Fixed assets
  

Investment property
 4 
150,000
130,000

  
150,000
130,000

Current assets
  

Debtors: amounts falling due within one year
 5 
50,942
475

Cash at bank and in hand
  
26,100
72,243

  
77,042
72,718

Creditors: amounts falling due within one year
 6 
(5,760)
(6,095)

Net current assets
  
 
 
71,282
 
 
66,623

Total assets less current liabilities
  
221,282
196,623

  

Net assets
  
221,282
196,623


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
188,579
188,579

Profit and loss account
  
32,603
7,944

  
221,282
196,623

Page 1

 
GILCO PROPERTIES LIMITED
REGISTERED NUMBER: 05110024

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 directors acknowledge their 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 profit and loss account 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 on 3 March 2025.




Mrs J J Shreeve
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
GILCO PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Gilco Properties Limited is a private company, limited by shares, domiciled in England and Wales, registration number 05110024. The registered office is 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

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

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

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.


Page 3

 
GILCO PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




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

Page 4

 
GILCO PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
130,000


Surplus on revaluation
20,000



At 30 June 2024
150,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
152,117
152,117


5.


Debtors

2024
2023
£
£


Trade debtors
180
475

Other debtors
50,762
-

50,942
475



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,290
1,290

Corporation tax
2,853
2,718

Other creditors
387
887

Accruals and deferred income
1,230
1,200

5,760
6,095


Page 5

 
GILCO PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Prior year adjustment

The financial statements include a prior year adjustment to move the debit balance of £22,117 on the investment property reserve to the profit and loss reserve. The investment property reserve is now £nil (was £22,217) and the profit and loss account is now £7,944 (was £30,061).


Page 6