Company registration number 10478903 (England and Wales)
GERRARDS HOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GERRARDS HOUSE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GERRARDS HOUSE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
4,868,711
5,117,593
Cash at bank and in hand
7,077
7,745
4,875,788
5,125,338
Creditors: amounts falling due within one year
4
(5,033,547)
(5,239,965)
Net current liabilities
(157,759)
(114,627)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(157,859)
(114,727)
Total equity
(157,759)
(114,627)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 11 March 2025
D Pilling
Director
Company registration number 10478903 (England and Wales)
GERRARDS HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Gerrards House Limited is a private company limited by shares incorporated in England and Wales. The registered office is 58 Oak End Way, Gerrards Cross, Buckinghamshire, SL9 8BR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is measured at the fair value of consideration receivable, net of Value Added Tax.
Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be reliably measured.
All revenue relates to property rental income within the UK and is recognised on a straight line basis over the life of the lease.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.4
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.
GERRARDS HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Leases
Rentals payable under operating leases, including any lease premiums paid, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,589
9,650
Other debtors
266,641
262,971
273,230
272,621
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
4,595,481
4,844,972
Total debtors
4,868,711
5,117,593
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,178
603
Amounts owed to group undertakings
4,951,471
5,214,357
Corporation tax
18,624
2,150
Other creditors
62,274
22,855
5,033,547
5,239,965
GERRARDS HOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
274,491
274,491
Between two and five years
1,097,965
1,097,965
In over five years
3,958,406
4,232,898
5,330,862
5,605,354
Lessor
At the reporting end date the company had contracted with tenants for the following minimum lease payments:
2024
2023
£
£
Within one year
210,427
206,815
Between two and five years
13,156
223,583
206,815
7
Related party transactions
The company is a wholly owned member of Grove Court Properties (Beaconsfield) Limited, and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosure', not to provide disclosures of transactions entered into with other wholly-owned members of the group.
8
Parent company
The parent company of Gerrards House Limited is Grove Court Properties (Beaconsfield) Limited and the ultimate parent company is Grove Court Properties (Holdings) Limited.
The results of Gerrards House Limited are consolidated into accounts of Grove Court Properties (Holdings) Limited which are publicly available on Companies House.