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COMPANY REGISTRATION NUMBER: 10483442
GJB PROPERTY LETTING SERVICES LIMITED
Unaudited Financial Statements
30 November 2024
GJB PROPERTY LETTING SERVICES LIMITED
Financial Statements
Year ended 30 November 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Accounting policies
5
Notes to the financial statements
6
GJB PROPERTY LETTING SERVICES LIMITED
Directors' Report
Year ended 30 November 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .
Directors
The directors who served the company during the year were as follows:
L N Byrne
G J Byrne
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 August 2025 and signed on behalf of the board by:
G J Byrne
Director
Registered office:
c/o The Accounting Centre Limited
First Floor, 736 High Road
North Finchley
London
England
N12 9QD
GJB PROPERTY LETTING SERVICES LIMITED
Statement of Income and Retained Earnings
Year ended 30 November 2024
2024
2023
Note
£
£
Turnover
345,957
623,021
---------
---------
Gross profit
345,957
623,021
Administrative expenses
19,431
36,845
---------
---------
Operating profit
326,526
586,176
Other interest receivable and similar income
4
15,545
1,270
Interest payable and similar expenses
5
34,533
37,392
---------
---------
Profit before taxation
307,538
550,054
Tax on profit
76,884
126,573
---------
---------
Profit for the financial year and total comprehensive income
230,654
423,481
---------
---------
Retained earnings at the start of the year
1,429,538
1,006,057
------------
------------
Retained earnings at the end of the year
1,660,192
1,429,538
------------
------------
All the activities of the company are from continuing operations.
GJB PROPERTY LETTING SERVICES LIMITED
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Investment Property
6
2,163,712
2,163,712
Current assets
Debtors
7
363,388
28,480
Cash at bank and in hand
75,937
410,746
---------
---------
439,325
439,226
Creditors: amounts falling due within one year
8
91,750
138,650
---------
---------
Net current assets
347,575
300,576
------------
------------
Total assets less current liabilities
2,511,287
2,464,288
Creditors: amounts falling due after more than one year
9
850,995
1,034,650
------------
------------
Net assets
1,660,292
1,429,638
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
10
1,660,192
1,429,538
------------
------------
Shareholders funds
1,660,292
1,429,638
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GJB PROPERTY LETTING SERVICES LIMITED
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 21 August 2025 , and are signed on behalf of the board by:
L N Byrne
G J Byrne
Director
Director
Company registration number: 10483442
GJB PROPERTY LETTING SERVICES LIMITED
Accounting Policies
Year ended 30 November 2024
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is not provided on such surplus or deficit. The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.
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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
GJB PROPERTY LETTING SERVICES LIMITED
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o The Accounting Centre Limited, First Floor, 736 High Road, North Finchley, London, N12 9QD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
4. Other interest receivable and similar income
2024
2023
£
£
Interest on bank deposits
15,545
1,270
--------
-------
5. Interest payable and similar expenses
2024
2023
£
£
Interest on banks loans and overdrafts
34,533
37,392
--------
--------
6. Investment property
Freehold property
Long leasehold property
Total
£
£
£
Cost
At 1 December 2023 and 30 November 2024
591,872
1,571,840
2,163,712
---------
------------
------------
Depreciation
At 1 December 2023 and 30 November 2024
---------
------------
------------
Carrying amount
At 30 November 2024
591,872
1,571,840
2,163,712
---------
------------
------------
At 30 November 2023
591,872
1,571,840
2,163,712
---------
------------
------------
Leasehold properties' cost include stamp duty, and are not depreciable assets. The directors are satisfied that the investment properties are at their fair value.
7. Debtors
2024
2023
£
£
Trade debtors
3,813
Other debtors
359,575
28,480
---------
--------
363,388
28,480
---------
--------
Other debtors include a loan of £200,000 and interest at 6.25% to a related party.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
2,327
4,034
Corporation tax
76,852
126,573
Director loan accounts
12,571
8,043
--------
---------
91,750
138,650
--------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
850,995
1,034,650
---------
------------
10. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
11. Directors' advances, credits and guarantees
The company owed to the directors £12,571 (2023: £8,043) at the reporting date.
12. Controlling party
The company was under the control of its directors throughout the year.