Registered number
10773457
Gentle Properties (Selly Oak) Limited
Report and Unaudited Accounts
30 March 2024
Collins
Chartered Accountants
West Midlands
Gentle Properties (Selly Oak) Limited
Registered number: 10773457
Balance Sheet
as at 30 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 15,809,209 11,424,429
Current assets
Debtors 4 40,209 27,800
Cash at bank and in hand 37,389 264
77,598 28,064
Creditors: amounts falling due within one year 5 (2,144,826) (2,102,896)
Net current liabilities (2,067,228) (2,074,832)
Total assets less current liabilities 13,741,981 9,349,597
Creditors: amounts falling due after more than one year 6 (9,519,959) (9,529,959)
Provisions for liabilities (1,383,404) -
Net assets/(liabilities) 2,838,618 (180,362)
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,838,617 (180,363)
Shareholder's funds 2,838,618 (180,362)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Fickert
Director
Approved by the board on 18 March 2025
Gentle Properties (Selly Oak) Limited
Notes to the Accounts
for the year ended 30 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention as modified for the re-valuation of investment properties and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover comprises revenue earned from the rents received and property maintenance charges and is recognised by reference to sales completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Fixtures and fittings Total
£ £ £
Cost / valuation
At 31 March 2023 11,094,079 409,907 11,503,986
Surplus on revaluation 4,405,921 - 4,405,921
At 30 March 2024 15,500,000 409,907 15,909,907
Depreciation
At 31 March 2023 - 79,557 79,557
Charge for the year - 21,141 21,141
At 30 March 2024 - 100,698 100,698
Net book value
At 30 March 2024 15,500,000 309,209 15,809,209
At 30 March 2023 11,094,079 330,350 11,424,429
The investment properties are re-valued each year by the director on an open market basis.
4 Debtors 2024 2023
£ £
Prepayments and accrued income 19,000 17,185
VAT receivable 21,209 10,615
40,209 27,800
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 10,000 10,000
Amounts owed to group undertakings 1,082,820 1,089,656
Corporation tax 9,929 6,916
Directors loans 422,409 333,576
Accruals and deferred income 20,000 20,400
Other creditors 599,668 642,348
2,144,826 2,102,896
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,519,959 9,529,959
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 9,506,626 9,506,626
8 Controlling party
The company is under the control of Dr G Fickert.
9 Other information
Gentle Properties (Selly Oak) Limited is a private company limited by shares and incorporated in England. Its registered office is:
504 Bristol Road
Selly Oak
Birmingham
B29 6BD
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