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GIBSON ELLIOTT PROPERTIES LIMITED

Registered Number
14542251
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

GIBSON ELLIOTT PROPERTIES LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

ELLIOTT, Penelope
MEEKS, Tara Louise

Registered Address

18a Gawsworth Avenue
Didsbury
Manchester
M20 5NF

Registered Number

14542251 (England and Wales)
GIBSON ELLIOTT PROPERTIES LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,920,0003,470,000
2,920,0003,470,000
Current assets
Debtors157,96970,219
Cash at bank and on hand1,255990
159,22471,209
Creditors amounts falling due within one year5(204)(17,829)
Net current assets (liabilities)159,02053,380
Total assets less current liabilities3,079,0203,523,380
Creditors amounts falling due after one year6(1,686,500)(2,072,947)
Net assets1,392,5201,450,433
Capital and reserves
Called up share capital100100
Share premium1,396,9551,396,955
Revaluation reserve101,000-
Profit and loss account(105,535)53,378
Shareholders' funds71,392,5201,450,433
The financial statements were approved and authorised for issue by the Board of Directors on 7 May 2025, and are signed on its behalf by:
MEEKS, Tara Louise
Director
Registered Company No. 14542251
GIBSON ELLIOTT PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year20
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 January 243,470,0003,470,000
Disposals(550,000)(550,000)
At 31 December 242,920,0002,920,000
Net book value
At 31 December 242,920,0002,920,000
At 31 December 233,470,0003,470,000
4.Revaluation of property, plant and equipment
The company holds investment properties at fair value. A revaluation reserve of £101,000 has been recognised in equity to reflect unrealised gains on these assets. No revaluations were made during the year ended 31 December 2024.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-869
Bank borrowings and overdrafts204-
Taxation and social security-16,000
Accrued liabilities and deferred income-960
Total20417,829
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,686,5002,072,947
Total1,686,5002,072,947
7.Revaluation reserve

£
Revaluations of plant, property and equipment101,000
At 31 December 24101,000