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GEES PROPERTIES LIMITED

Registered Number
05336605
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

GEES PROPERTIES LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

GEE, Andrew David Marshall
GEE, Tracey
SHIELDS, Catherine

Company Secretary

GEE, Tracey

Registered Address

Unit 4 Monckton Road Industrial Estate
Wakefield
WF2 7AL

Registered Number

05336605 (England and Wales)
GEES PROPERTIES LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments31,934,1972,216,898
1,934,1972,216,898
Current assets
Debtors3,68335,145
Cash at bank and on hand317,24766,739
320,930101,884
Creditors amounts falling due within one year4(1,726,910)(1,723,020)
Net current assets (liabilities)(1,405,980)(1,621,136)
Total assets less current liabilities528,217595,762
Net assets528,217595,762
Capital and reserves
Called up share capital100100
Revaluation reserve26,46226,462
Profit and loss account501,655569,200
Shareholders' funds6528,217595,762
The financial statements were approved and authorised for issue by the Board of Directors on 18 May 2025, and are signed on its behalf by:
GEE, Andrew David Marshall
Director
Registered Company No. 05336605
GEES PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 September 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.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
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:
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
2.Average number of employees

20242023
Average number of employees during the year33
3.Fixed asset investments
Sale of 79 Lawefield Lane, Wakefield. £510461, purchase 11 Brackendale Road Wakefield £227760

Total

£
Cost or valuation
At 01 October 232,216,898
Additions227,760
Disposals(510,461)
At 30 September 241,934,197
Net book value
At 30 September 241,934,197
At 30 September 232,216,898
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,302742
Amounts owed to related parties1,715,9091,714,082
Taxation and social security3,0951,576
Accrued liabilities and deferred income6,6046,620
Total1,726,9101,723,020
Amounts owed to David Gee Associates Limited 100% ordinary shareholder of Gees Properties Limited £1715909 (LY£1714082)
5.Share capital
Called up share capital 2024 2023 2024 2023 Ordinary share capital Number Number £ £ Issued and fully paid A Ordinary shares of £1 each 50 50 50 50 B Ordinary shares of £1 each 50 50 50 50 100 100 100 100
6.Revaluation reserve

£
Reserve at 01 October 2326,462
At 30 September 2426,462