Company No:
Contents
| DIRECTORS | J Szlezinger |
| J H Szlezinger | |
| L Szlezinger | |
| S Szlezinger |
| SECRETARY | J Szlezinger |
| REGISTERED OFFICE | Treviot House |
| 186-192 High Road | |
| Ilford | |
| IG1 1LR | |
| United Kingdom |
| COMPANY NUMBER | 00925558 (England and Wales) |
| CHARTERED ACCOUNTANTS | Gravita Essex Limited |
| Treviot House | |
| 186-192 High Road | |
| Ilford | |
| Essex | |
| IG1 1LR |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 29,900,784 | 28,631,509 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 2,135,110 | 2,795,121 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 1,236,687 | 2,064,952 | ||
| Total assets less current liabilities | 31,137,471 | 30,696,461 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Fair value reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Gita Properties Limited (registered number:
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J H Szlezinger
Director |
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.
Gita 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 Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
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 Balance Sheet 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 current 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.
| Land and buildings |
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| Plant and machinery |
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| Fixtures and fittings |
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| Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery | Fixtures and fittings | Computer equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 April 2024 |
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| Additions |
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| At 31 March 2025 |
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| Accumulated depreciation | |||||||||
| At 01 April 2024 |
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| Charge for the financial year |
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| At 31 March 2025 |
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| Net book value | |||||||||
| At 31 March 2025 | 5,388 | 361 | 5,322 | 1,273 | 12,344 | ||||
| At 31 March 2024 | 6,062 | 621 | 6,261 | 537 | 13,481 |
| Investment property | |
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| Valuation | |
| As at 01 April 2024 |
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| Additions | 1,270,412 |
| As at 31 March 2025 |
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Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Historic cost | 22,080,613 | 20,810,201 |
The investment properties were valued on a fair value basis on 31st March 2025 by the directors.
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by associates |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts Advanced | 412,234 | 227,246 | |
| Amounts Repaid | (462,840) | (112,040) |
At the year end the balance owing to the company was £1,157,219 (2024 - £1,207,824). The advances are made are interest free and repayable on demand