G.S. Developments (Leicester) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02437081

G.S. Developments (Leicester) Limited

Filleted Unaudited Financial Statements

31 March 2026

G.S. Developments (Leicester) Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		195,357	283,739

Current assets

Stocks		992,605	1,442,039
Debtors	6	182,301	111,406
Cash at bank and in hand		65,059	150,517
		------------	------------
		1,239,965	1,703,962

Creditors: amounts falling due within one year	7	904,118		1,486,483
		------------		------------
Net current assets			335,847	217,479
			---------	---------
Total assets less current liabilities			531,204	501,218

Creditors: amounts falling due after more than one year	8	69,166	110,667
		---------	---------
Net assets		462,038	390,551
		---------	---------

G.S. Developments (Leicester) Limited

Statement of Financial Position (continued)

31 March 2026

	2026		2025
Note	£	£	£

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	461,038	389,551
	---------	---------
Shareholders funds	462,038	390,551
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 July 2026 , and are signed on behalf of the board by:

Mr M Singh
Director

Company registration number: 02437081

G.S. Developments (Leicester) Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 120 Ross Walk, Leicester, LE4 5HH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue from rental income is recognised on a straight-line basis over the lease term, in accordance with the lease agreements in place. Rental income is recognised only when it is probable that the economic benefits associated with the lease will flow to the entity, and the amount of income can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	20% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2025: 11 ).

5. Tangible assets

	Investment property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025	21,808	13,000	364,429	20,112	419,349
Disposals	–	–	( 38,000)	–	( 38,000)
	--------	--------	---------	--------	---------
At 31 March 2026	21,808	13,000	326,429	20,112	381,349
	--------	--------	---------	--------	---------
Depreciation
At 1 April 2025	–	3,250	122,242	10,118	135,610
Charge for the year	–	2,438	53,422	4,022	59,882
Disposals	–	–	( 9,500)	–	( 9,500)
	--------	--------	---------	--------	---------
At 31 March 2026	–	5,688	166,164	14,140	185,992
	--------	--------	---------	--------	---------
Carrying amount
At 31 March 2026	21,808	7,312	160,265	5,972	195,357
	--------	--------	---------	--------	---------
At 31 March 2025	21,808	9,750	242,187	9,994	283,739
	--------	--------	---------	--------	---------

The director considers that the investment property is disclosed at its fair value.

6. Debtors

	2026	2025
	£	£
Trade debtors	14,499	6,374
Other debtors	167,802	105,032
	---------	---------
	182,301	111,406
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2026	2025
	£	£
Other debtors	–	24,334
	----	--------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	18,947	12,520
Corporation tax	23,476	4,017
Social security and other taxes	32,415	23,594
Other creditors	829,280	1,446,352
	---------	------------
	904,118	1,486,483
	---------	------------

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Other creditors	69,166	110,667
	--------	---------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2026
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr M Singh	( 19,457)	73,789	54,332
	--------	--------	--------

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr M Singh	–	( 19,457)	( 19,457)
	----	--------	--------

10. Related party transactions

During the year the company were provided with interest free loans from related parties. The amount at the balance sheet date was £760,299 (2025: £1,329,363), included within other creditors payable within one year. During the year the company provided interest free loans to related parties. The amount at the balance sheet date was £56,804 (2025: £7,451), included within other creditors payable within one year.