Registered number
13983126
GEE BEE REAL ESTATE LIMITED
Unaudited Filleted Accounts
30 September 2024
GEE BEE REAL ESTATE LIMITED
Registered number: 13983126
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
restated
Fixed assets
Tangible assets 3 3,200,000 3,200,000
Current assets
Debtors 4 2,555 16,000
Cash at bank and in hand 32,365 3,913
34,920 19,913
Creditors: amounts falling due within one year 5 (2,452,324) (2,330,818)
Net current liabilities (2,417,404) (2,310,905)
Total assets less current liabilities 782,596 889,095
Creditors: amounts falling due after more than one year 6 (665,801) (857,391)
Net assets 116,795 31,704
Capital and reserves
Called up share capital 100 100
Profit and loss account 116,695 31,604
Shareholder's funds 116,795 31,704
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms R Bijlani Mr A G Bijlani
Director Director
Approved by the board on 26 June 2025
GEE BEE REAL ESTATE LIMITED
Notes to the Accounts
for the period from 1 April 2023 to 30 September 2024
1 Accounting policies
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).
The comparative balances have been restated to re-classify creditors.
Going Concern
The Balance Sheet on page 5 shows a net current liabilities position due to balances of £2,390,400 repayable on demand to other group companies. However, the other group companies will not seek repayment of the debt until the company is in a position to pay.
Turnover
Turnover represents rent receivable from group company.
Land and buildings
The company's property is rented out to a group member, and it is treated at impaired cost and not revalued. Impaired cost is measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided over its expected useful life of 50 years, but as its residual value is over cost no depreciation has been charged.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 3,200,000
At 30 September 2024 3,200,000
Depreciation
At 30 September 2024 -
Net book value
At 30 September 2024 3,200,000
At 31 March 2023 3,200,000
4 Debtors 2024 2023
£ £
Amounts owed by group companies - 16,000
Other debtors 2,555 -
2,555 16,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 33,048 98,005
Amounts owed to group companies 2,390,400 2,224,900
Taxation and social security costs 28,126 7,413
Other creditors 750 500
2,452,324 2,330,818
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 665,801 857,391
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 504,101 857,391
Secured bank loans 698,848 955,396
the bank loans are secured on the company's assets.
8 Controlling party
The company's controlling party is Gee Bee Group Limited, a company registered in England.
9 Other information
GEE BEE REAL ESTATE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Wadsworth Road
Perivale
Greenford
UB6 7JD
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