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Company Registration No. 13416009 (England and Wales)
Gun Properties Ltd Unaudited accounts for the year ended 31 May 2024
Gun Properties Ltd Unaudited accounts Contents
Page
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Gun Properties Ltd Company Information for the year ended 31 May 2024
Director
Mr M Gun
Company Number
13416009 (England and Wales)
Registered Office
Flat A 51 Turnpike Lane London N8 0EP England
Accountants
DNG Associates 214 Baker Street Enfield London EN1 3JT
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Gun Properties Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
65,000 
70,500 
Current assets
Cash at bank and in hand
19 
(3)
Creditors: amounts falling due within one year
(55,131)
(55,542)
Net current liabilities
(55,112)
(55,545)
Total assets less current liabilities
9,888 
14,955 
Provisions for liabilities
Deferred tax
(2,850)
- 
Net assets
7,038 
14,955 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
10,650 
22,610 
Profit and loss account
(3,613)
(7,656)
Shareholders' funds
7,038 
14,955 
For the year ending 31 May 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 11 April 2025 and were signed on its behalf by
Mr M Gun Director Company Registration No. 13416009
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Gun Properties Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Gun Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13416009. The registered office is Flat A, 51 Turnpike Lane, London, N8 0EP, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 1 June 2023
70,500 
Net loss from fair value adjustments
(5,500)
At 31 May 2024
65,000 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
54,451 
54,942 
Accruals
680 
600 
55,131 
55,542 
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Gun Properties Ltd Notes to the Accounts for the year ended 31 May 2024
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
7
Transactions with related parties
Included within other creditors is an amount of £54,451 (2023;£54,942) due to its director. There are no terms as to interest or repayment in respect of this balance.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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