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
Giles Properties Nottingham Ltd
Company Information
for the year ended 30 June 2024
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
Giles Properties Nottingham Ltd
Statement of financial position
as at 30 June 2024
Investment property
357,381
357,381
Cash at bank and in hand
1,142
28,884
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)
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
Giles Properties Nottingham Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Fair value at 1 July 2023
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.
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
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).