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REGISTERED NUMBER: 02972523 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GMS PROPERTY SERVICES LTD

GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
CURRENT ASSETS
Debtors 5 421,539 419,120
Cash at bank 5,817 2,956
427,356 422,076
CREDITORS
Amounts falling due within one year 6 188,972 175,895
NET CURRENT ASSETS 238,384 246,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,384

246,181

CREDITORS
Amounts falling due after more than one
year

7

6,852

44,352
NET ASSETS 231,532 201,829

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 231,432 201,729
SHAREHOLDERS' FUNDS 231,532 201,829

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2025 and were signed by:





N J Male - Director


GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

GMS Property Services Ltd is a private company, limited by shares, registered in England and Wales, registered number 02972523. Its registered office is Admiral House, Waterfront East, Brierley Hill, West Midlands, England, DY5 1XG.

The financial statements are presented in Sterling, which is the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before turnover is:

Rendering of services
Turnover from a contract to provide services is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the services provider;
- the amount of turnover can be measured reliably;
- it is probable that the company will receive consideration due under the transaction;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.


GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 22,647
Disposals (21,229 )
At 31 August 2024 1,418
DEPRECIATION
At 1 September 2023 22,647
Eliminated on disposal (21,229 )
At 31 August 2024 1,418
NET BOOK VALUE
At 31 August 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 122,568 111,851
Amounts owed by group undertakings 139,032 131,565
Other debtors 159,939 175,704
421,539 419,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 42,636 70,182
Trade creditors 91,410 59,429
Amounts owed to group undertakings 901 17,367
Amounts owed to associates 11,723 -
Taxation and social security 27,115 11,582
Other creditors 15,187 17,335
188,972 175,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 6,852 44,352

8. SECURED DEBTS

Included within creditors is an amount of £5,136 which is secured against trade debtors (2023 - £32,682).

GMS PROPERTY SERVICES LTD (REGISTERED NUMBER: 02972523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Brassington BA FCA (Senior Statutory Auditor)
for and on behalf of Blackthorns

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company made purchases of £31,561 (2023 - £30,310) from companies which are related by virtue of common control of a director of the company.

Amounts due to these companies at the year end totalled £11,723 (2023 - £7,647).

11. ULTIMATE CONTROLLING PARTY

Until 28 October 2024, N Male and E Newman-Male were considered to be the ultimate controlling parties by virtue of their joint controlling interest in GMS Group of Companies Limited. The largest and smallest group in which the consolidated results of the company are available is headed by GMS Group of Companies Limited. Consolidated accounts are available from Companies House, Cardiff, CF14 3UZ.

From 28 October 2024, N Male is considered to be the ultimate controlling party due to his control of GMS Realisation Group Limited, the new ultimate parent company of the group.