REGISTERED NUMBER: SC590420 (Scotland)

Unaudited Financial Statements For The Year Ended 31 March 2025

for

G&N PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Kaur Sidhu

S Gurjit Singh

REGISTERED OFFICE:

12 Ruthven Street

Glasgow

G12 9BS

REGISTERED NUMBER:

SC590420 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan

95-107 Lancefield Street

Glasgow

Lanarkshire

G3 8HZ

FIXED ASSETS

Tangible assets

4

1,145

1,232

Investment property

5

685,271

587,979

686,416

589,211

CURRENT ASSETS

Debtors

6

96,350

96,350

Cash at bank

12,356

15,594

108,706

111,944

CREDITORS

Amounts falling due within one year

7

241,830

291,296

NET CURRENT LIABILITIES

(133,124

)

(179,352

)

TOTAL ASSETS LESS CURRENT LIABILITIES

553,292

409,859

CREDITORS

Amounts falling due after more than one year

8

(485,868

)

(347,700

)

PROVISIONS FOR LIABILITIES

(18,419

)

(18,419

)

NET ASSETS

49,005

43,740

CAPITAL AND RESERVES

Called up share capital

9

12

12

Retained earnings

10

48,993

43,728

SHAREHOLDERS' FUNDS

49,005

43,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by:

S Gurjit Singh - Director

1.	STATUTORY INFORMATION

G&N PROPERTY LTD is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

2,791

273

3,064

Additions

-

199

199

At 31 March 2025

2,791

472

3,263

DEPRECIATION

At 1 April 2024

1,360

472

1,832

Charge for year

286

-

286

At 31 March 2025

1,646

472

2,118

NET BOOK VALUE

At 31 March 2025

1,145

-

1,145

At 31 March 2024

1,431

(199

)

1,232

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

587,979

Additions

97,292

At 31 March 2025

685,271

NET BOOK VALUE

At 31 March 2025

685,271

At 31 March 2024

587,979

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

6,350

6,350

Other debtors

90,000

90,000

96,350

96,350

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

98,249

98,249

Other loans

2,975

2,975

Sona Consultants Ltd

6,984

34,000

BB loan

1,203

1,203

Directors' current accounts

130,239

153,409

Accrued expenses

2,180

1,460

241,830

291,296

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans outwith one year

485,717

346,297

BB loan

151

1,403

485,868

347,700

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

12

Ordinary

£1.00

12

12

10.

RESERVES

Retained

earnings

£

At 1 April 2024

43,728

Profit for the year

5,265

At 31 March 2025

48,993