Company No: 05384573 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Grahame Stowe
	Benjamin Stowe

SECRETARY

Marilyn Stowe

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

05384573 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	645,000		645,000
Investments		0		810,789
		645,000		1,455,789
Current assets
Debtors	4	475,807		448
		475,807		448
Creditors: amounts falling due within one year	5	( 8,691)		( 361,514)
Net current assets/(liabilities)		467,116		(361,066)
Total assets less current liabilities		1,112,116		1,094,723
Net assets		1,112,116		1,094,723
Capital and reserves
Called-up share capital		2		2
Other reserves		51,759		51,759
Profit and loss account		1,060,355		1,042,962
Total shareholders' funds		1,112,116		1,094,723

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 Profit and Loss Account has not been delivered.

The financial statements of GCS Properties (Leeds) Limited (registered number: 05384573) were approved and authorised for issue by the Board of Directors on 24 December 2025. They were signed on its behalf by:

Grahame Stowe 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

GCS Properties (Leeds) 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 Chancery Lane, London, WC2A 1LS.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure if required to show a true and fair view.

The financial statements are prepared in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

Turnover

Rents receivable represent rental income relating to the period.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reporting in the income statement because it excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Investment property

Investment property which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Interests in subsidiaries, associated and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	645,000
As at 31 March 2025	645,000

The directors have provided an estimate of the fair value of the investment property of £645,000 based on market conditions and similar properties held.

4. Debtors

	2025		2024
	£		£
Other debtors	475,807		448

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,011		1,011
Taxation and social security	4,080		3,807
Other creditors	3,600		356,696
	8,691		361,514

6. Related party transactions

Grahame Stowe, a director, has a loan account with the company. The loan balance owed by Grahame at the year-end was £53,088 (2024 owed by the company: £349,272). The loan was repaid post year end.

During the year, Parsley Property Group Limited, a company in which Benjamin Stowe is also a director of, owed GCS Properties (Leeds) Limited a loan of £422,101 (2024: £nil). This loan is interest free and repayable on demand.