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Registered number: 05906448 G PROPERTY HOLDINGS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
G PROPERTY HOLDINGS LIMITED REGISTERED NUMBER: 05906448 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 7,855,963 |  | 7,855,963
|  |  | 7,855,963 |  | 7,855,963
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 387,725 |  | 466,746 |
Cash at bank and in hand | 6 | 7,155,064 |  | 5,850,343 |
|  | 7,542,789 |  | 6,317,089 |
Creditors: amounts falling due within one year | 7 | (1,013,239) |  | (987,758) |
Net current assets |  |  | 6,529,550 |  | 5,329,331
Total assets less current liabilities |  |  | 14,385,513 |  | 13,185,294
Provisions for liabilities |  |  |  |  |
Deferred tax | 8 | (198,937) |  | (859,134) |
|  |  | (198,937) |  | (859,134)
Net assets |  |  | 14,186,576 |  | 12,326,160
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Fair value non-distributable reserves |  |  | 625,868 |  | 834,492
Profit and loss account |  |  | 13,560,707 |  | 11,491,667
|  |  | 14,186,576 |  | 12,326,160
Page 1
G PROPERTY HOLDINGS LIMITED REGISTERED NUMBER: 05906448 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2025.
N J C Griffith
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
G Property Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05906448 and the registered office is The Warehouse, Wyndham Arcade, St Mary Street, Cardiff, CF10 1FH. The principal activity of the company in the year under review was that of property investment. The presentation currency of the financial statements is Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. There estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
| 2.3 | Going Concern
In preparing the financial statements, the directors have considered the current financial position of the company and likely future cashflows. The company has both net current assets and net assets at the balance sheet date. The directors believe that the company is well placed to manage its business risks successfully, despite the uncertain economic outlook. The directors have assessed the risks facing the business from the current economic uncertainty and implemented measures to address these risks. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
| 2.4 | Tangible fixed assets
The company's freehold land and buildings are treated as investment properties, as defined by the Financial Reporting Standard 102 Section 1A "Small Entities" accordingly, they are not depreciated. Investment properties for which fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value annually, with the charge recognised in the income statement. Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate non-distributable fair value reserve. Page 3
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Bad debt provision
A specific provision is made against older debtor balances. Additional provisions are made against newer debtor balances where there is evidence to suggest that a balance may not be recoverable.
| 2.6 | Turnover and recognition
Turnover represents rental income, insurance and service charge income and mangement fees, after the deduction of value added tax. The turnover and pre-tax loss, all of which arises in the United Kingdom, is attributable to the company's principal activities. Rental income is recognised evenly over the period it relates. Insurance recharge income and service charge income are recognised evenly over the period to which they relate. Other operating income represents the recharge of utility costs to tenants and is recognised in the period to which it relates.
| 2.7 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 4
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.10 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 5
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 January 2024 | 7,855,963
| At 31 December 2024 | 7,855,963
The 2024 valuations were made by Mr N J C Griffith, on an open market value for existing use basis. The company's properties are treated as investment property under FRS 102 Section 1A. Cost or valuation of investment property at the balance sheet date is represented by:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Historic cost | 7,021,471 | 7,021,471
| Surplus on revaluation of property | 834,492 | 834,492
|  | 7,855,963 | 7,855,963
Page 6
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 232,967 | 316,276
| Other debtors | 335 | 595
| Prepayments and accrued income | 154,423 | 149,875
|  | 387,725 | 466,746
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 7,155,064 | 5,850,343
|  | 7,155,064 | 5,850,343
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 102,231 | 171,250
| Amounts owed to group undertakings | 19,007 | 16,307
| Corporation tax | 228,783 | 179,648
| Other taxation and social security | 63,689 | 73,083
| Other creditors | 26,000 | 21,000
| Accruals and deferred income | 573,529 | 526,470
|  | 1,013,239 | 987,758
Page 7
G PROPERTY HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | (859,134)
| Charged to profit or loss | 660,196
| At end of year | (198,938)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Fixed asset timing differences | 9,685 | 45,988
| Revaluation of investment properties | (208,623) | (905,121)
|  | (198,938) | (859,133)
9. | Reserves
The retained earnings non distributable reserve relates to revaluation gains on the company's investment property of £834,492 less deferred tax £208,623 as at 31 December 2024.
10. | Related party exemption
| 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.
11. | Ultimate controlling party
The parent company is G Capital Limited a company incorporated in England and Wales. The ultimate controlling party is the director, Mr NJC Griffith.
12. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 12 September 2025 by James Dobson BSc (Hons) FCA (Senior Statutory Auditor) on behalf of MHA. MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542) Page 8