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Registered number: 10468775
Heswall Properties Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10468775
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 990,010 750,010
990,010 750,010
CURRENT ASSETS
Debtors 5 254,515 247,045
Cash at bank and in hand 53 2,091
254,568 249,136
Creditors: Amounts Falling Due Within One Year 6 (160,049 ) (95,217 )
NET CURRENT ASSETS (LIABILITIES) 94,519 153,919
TOTAL ASSETS LESS CURRENT LIABILITIES 1,084,529 903,929
Creditors: Amounts Falling Due After More Than One Year 7 (759,522 ) (579,443 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (77,802 ) (77,802 )
NET ASSETS 247,205 246,684
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 247,203 246,682
SHAREHOLDERS' FUNDS 247,205 246,684
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Nancy Allen
Director
26th August 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Heswall Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10468775 . The registered office is 1 London Road, Ipswich, IP1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NA
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 December 2023 750,010
Additions 240,000
As at 30 November 2024 990,010
Net Book Value
As at 30 November 2024 990,010
As at 1 December 2023 750,010
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
GP Direct 7,330 -
Amounts owed by group undertakings 247,185 247,045
254,515 247,045
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Net wages 3,005 -
Accruals and deferred income 1,140 1,140
Director's loan account 155,903 94,077
160,049 95,217
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loan - Allen Medical Ltd 34,947 34,868
Accruals and deferred income 1,140 1,140
Directors loan account 723,435 543,435
759,522 579,443
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4