Company Registration No. 09337344 (England and Wales)
G S L HOMESTYLE PROPERTIES LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
G S L HOMESTYLE PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 DECEMBER 2024
30 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,252
161
Current assets
Debtors
4
333
350
Cash at bank and in hand
9,252
10,548
9,585
10,898
Creditors: amounts falling due within one year
5
(9,503)
(5,135)
Net current assets
82
5,763
Total assets less current liabilities
14,334
5,924
Creditors: amounts falling due after more than one year
6
(9,527)
-
Net assets
4,807
5,924
Capital and reserves
Called up share capital
30
30
Profit and loss reserves
4,777
5,894
Total equity
4,807
5,924
G S L HOMESTYLE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 DECEMBER 2024
30 December 2024
2

For the financial year ended 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 July 2025
Mrs J Lowe
Director
Company registration number 09337344 (England and Wales)
G S L HOMESTYLE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
3
1
Accounting policies
Company information

G S L Homestyle Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% - 50% straight line
Motor vehicles
25% reducing balance
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

G S L HOMESTYLE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
1
Accounting policies (Continued)
4
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

G S L HOMESTYLE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 December 2023
5,925
Additions
14,869
At 30 December 2024
20,794
Depreciation and impairment
At 31 December 2023
5,764
Depreciation charged in the year
778
At 30 December 2024
6,542
Carrying amount
At 30 December 2024
14,252
At 30 December 2023
161
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
350
Other debtors
333
-
0
333
350
G S L HOMESTYLE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
6
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
69
69
Taxation and social security
980
1,424
Other creditors
8,454
3,642
9,503
5,135

 

Within other creditors are hire purchase liabilities which are secured on the assets to which they pertain.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
9,527
-
0

Within other creditors are hire purchase liabilities which are secured on the assets to which they pertain.

7
Related party transactions

At the year end the company owed £114 (2023: £738) to Definitions Property Maintenance Limited, a related company by virtue of the directors being spouses. All trading during the year is carried out at arms length.

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