GIGI PROPERTIES AND HOMES LIMITED

GIGI PROPERTIES AND HOMES LIMITED

Statement of Financial Position

As at 31 October 2024

	£	2024 £	£	2023 £
Fixed assets		85,000		85,000
Current assets	568		905
Creditors: amount falling due within one year	(31,543)		(94,672)
Net current assets/(liabilities)		(30,975)		(93,767)
Total assets less current liabilities		54,025		(8,767)
Creditors: amount falling due after more than one year		(62,644)		-
Net assets/(liabilities)		(8,619)		(8,767)


Capital and reserves		(8,619)		(8,767)

For the year ended 31 October 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 accounts for the year in question in accordance with section 476 of the Companies Act 2006.
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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:

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Olalekan Adekola
Director

Date approved: 15 October 2025

GIGI PROPERTIES AND HOMES LIMITED

Notes to the Accounts

For the year ended 31 October 2024

Statutory Information

GIGI PROPERTIES AND HOMES LIMITED is a private limited company, limited by shares, domiciled in Scotland, registration number SC678591, registration address 22 Fowlis Drive, Newton Mearns, Glasgow, G77 6JL, Scotland.

The presentation currency is £ sterling.

Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company.

Investment properties

Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

2.	Average number of employees Average number of employees during the year was 0 (2023: 0).