REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
GELSHA PROPERTIES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
GELSHA PROPERTIES LIMITED |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Contents of the Financial Statements |
for the Year Ended 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GELSHA PROPERTIES LIMITED |
Company Information |
for the Year Ended 31 JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 2C, Brosnan House |
175 Darkes Lane |
Potters Bar |
Hertfordshire |
EN6 1BW |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Balance Sheet |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Balance Sheet - continued |
31 JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Notes to the Financial Statements |
for the Year Ended 31 JULY 2024 |
1. | STATUTORY INFORMATION |
GELSHA PROPERTIES LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income receivable. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Notes to the Financial Statements - continued |
for the Year Ended 31 JULY 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Reclassification/transfer |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Reclassification/transfer | 235,228 |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
Due to the change in government tax legislation, the property has been reclassified as an investment property. |
The investment property was valued by the directors on 31 July 2024 in accordance with current market factors. |
6. | DEBTORS |
31.7.24 | 31.7.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Prepayments |
Amounts falling due after more than one year: |
Sundry loan | 95,000 | - |
Aggregate amounts |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Notes to the Financial Statements - continued |
for the Year Ended 31 JULY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Creditors and accruals |
Tax |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Sundry loans |
9. | SECURED DEBTS |
Included within sundry loans is an amount of £136,865 that is secured by way of a charge over the company's long leasehold property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary A Shares | £1 | 50 | 50 |
Ordinary B Shares | £1 | 50 | 50 |
100 | 100 |
Each Ordinary A share is entitled to one vote in any circumstances and has equal rights to dividends. The Ordinary A shareholders have control of the company. |
The Ordinary B shares have no voting rights but have equal rights to dividends. |
11. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation in the year | (20,056 | ) |
At 31 July 2024 | ( |
) |
12. | RELATED PARTY DISCLOSURES |
At 31 July 2024 there was an amount totalling £307,800 (2023: £305,000) included within sundry loans due to Environmental & Technical Services Limited, a company in which the directors' father is a company director. |
During the year the company provided a sundry loan totalling £95,000 to CJTS Properties Limited, a company in which the Mrs K K Gutowski and Mrs J Horrigan are directors and shareholders. The balance due at 31 July 2024 amounted to £95,000. |
GELSHA PROPERTIES LIMITED (Registered number: 12725356) |
Notes to the Financial Statements - continued |
for the Year Ended 31 JULY 2024 |
13. | ULTIMATE CONTROLLING PARTY |
The company was under the control of the directors throughout the period by virtue of their combined controlling shareholdings. |