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Company Registration No. 12048959 (England and Wales)
Giles Properties Nottingham Ltd Unaudited accounts for the year ended 30 June 2024
Giles Properties Nottingham Ltd Unaudited accounts Contents
Page
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Giles Properties Nottingham Ltd Company Information for the year ended 30 June 2024
Director
Marc Giles
Company Number
12048959 (England and Wales)
Registered Office
12 Harles Acres Hickling Melton Mowbray Leicestershire LE14 3AF England
Accountants
Net Accountancy Solutions Limited 12 Harles Acres Hickling Melton Mowbray LEICESTERSHIRE LE14 3AF
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Giles Properties Nottingham Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
357,381 
357,381 
Current assets
Debtors
10,000 
10,000 
Cash at bank and in hand
1,142 
28,884 
11,142 
38,884 
Creditors: amounts falling due within one year
(57,156)
(87,161)
Net current liabilities
(46,014)
(48,277)
Total assets less current liabilities
311,367 
309,104 
Creditors: amounts falling due after more than one year
(292,720)
(297,720)
Net assets
18,647 
11,384 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
8,647 
1,384 
Shareholders' funds
18,647 
11,384 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 March 2025 and were signed on its behalf by
Marc Giles Director Company Registration No. 12048959
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Giles Properties Nottingham Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Giles Properties Nottingham Ltd is a private company, limited by shares, registered in England and Wales, registration number 12048959. The registered office is 12 Harles Acres, Hickling, Melton Mowbray, Leicestershire, LE14 3AF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2024 
£ 
Fair value at 1 July 2023
357,381 
At 30 June 2024
357,381 
Investment property comprises three freehold residential rental properties. Investment properties are to be carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Going forward revaluations will be performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
10,000 
10,000 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
Taxes and social security
250 
- 
Loans from directors
48,191 
81,561 
Accruals
3,715 
600 
57,156 
87,161 
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Giles Properties Nottingham Ltd Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
292,720 
297,720 
Aggregate of amounts that fall due for payment after five years
278,970 
283,970 
A £25,000 bounce back loan was taken out in March 2021 and will be repaid over 5 years commencing March 2022. The remaining loans are interest only mortgages secured on the properties to which they relate.
8
Transactions with related parties
Various loans have been made to the company by the director, Mr M Giles. At the end of the year £48,191 (2023: £81,561) was owing by the company. The loan is interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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