Company No: 07267094 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	G R S Lark
	P M Lark

REGISTERED OFFICE	22 The Beach
	Walmer
	Deal
	CT14 7HJ
	United Kingdom

COMPANY NUMBER

07267094 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	1,066,000		1,066,000
Investments	4	500,000		200,000
		1,566,000		1,266,000
Current assets
Debtors	5	3,547		4,227
Cash at bank and in hand		9,955		8,295
		13,502		12,522
Creditors: amounts falling due within one year	6	( 1,129,356)		( 852,405)
Net current liabilities		(1,115,854)		(839,883)
Total assets less current liabilities		450,146		426,117
Provision for liabilities		( 51,675)		( 51,675)
Net assets		398,471		374,442
Capital and reserves
Called-up share capital		30		30
Fair value reserve		241,259		241,259
Profit and loss account		157,182		133,153
Total shareholders' funds		398,471		374,442

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Gorsley Properties Limited (registered number: 07267094) were approved and authorised for issue by the Board of Directors on 05 November 2025. They were signed on its behalf by:

G R S Lark Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gorsley Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 The Beach, Walmer, Deal, CT14 7HJ, United Kingdom.

The financial statements have been prepared in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Gorsley Properties Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover comprises rentals receivable by the company during the year.

Rental revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Comprehensive Income. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,066,000
As at 31 March 2025	1,066,000

Split between Freehold and Leasehold property

The net book value of land and buildings may be further analysed as follows:

	2025		2024
	£		£
Freehold	522,750		522,750
Long leasehold	543,250		543,250
	1,066,000		1,066,000

Valuation

The fair value of freehold investment property and long term leasehold investment property is based on the directors' best estimate at 31 March 2025, having considered properties of a similar nature, condition and location.

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	200,000		200,000
Additions	300,000		300,000
At 31 March 2025	500,000		500,000
Carrying value at 31 March 2025	500,000		500,000
Carrying value at 31 March 2024	200,000		200,000

5. Debtors

	2025		2024
	£		£
Prepayments	2,217		3,067
Other debtors	1,330		1,160
	3,547		4,227

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	50		0
Amounts owed to directors	1,113,983		835,699
Accruals and deferred income	9,211		11,306
Taxation and social security	6,112		5,400
	1,129,356		852,405

The directors' loan account is interest free and repayable on demand.

7. Reserves

Revaluation reserve

This reserve relates to gains/losses arising on the revaluation of the Company's property, together with related deferred tax. This reserve is not distributable to shareholders.

Profit and loss account

This reserve relates to the cumulative retained earnings less amounts distributed to shareholders.