G & L Property Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11081452 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

24 NOVEMBER 2017 TO 30 NOVEMBER 2018

FOR

G & L PROPERTY SERVICES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Orr

Mr G D Orr

REGISTERED OFFICE:

93 Bohemia Road

St. Leonards on Sea

East Sussex

TN37 6RJ

REGISTERED NUMBER:

11081452 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

4

2,716

Investment property

5

773,591

776,307

CURRENT ASSETS

Debtors

6

276,972

Cash at bank

11,811

288,783

CREDITORS

Amounts falling due within one year

7

963,732

NET CURRENT LIABILITIES

(674,949

)

TOTAL ASSETS LESS CURRENT LIABILITIES

101,358

CREDITORS

Amounts falling due after more than one year

8

(100,000

)

PROVISIONS FOR LIABILITIES

10

(516

)

NET ASSETS

842

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

12

742

SHAREHOLDERS' FUNDS

842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 August 2019 and were signed on its behalf by:

Mr G D Orr - Director

1.	STATUTORY INFORMATION

G & L Property Services Ltd is a private company, limited by shares , registered in England and Wales. 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

-

33% on cost

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 period 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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 period 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 period was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

Additions

169

1,847

1,806

3,822

At 30 November 2018

169

1,847

1,806

3,822

Depreciation

Charge for period

42

462

602

1,106

At 30 November 2018

42

462

602

1,106

Net book value

At 30 November 2018

127

1,385

1,204

2,716

5.	INVESTMENT PROPERTY

Total

£

Fair value

Additions

773,591

At 30 November 2018

773,591

Net book value

At 30 November 2018

773,591

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1,579

Other debtors

275,171

Prepayments and accrued income

222

276,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tax

1,043

Directors' current accounts

959,723

Accruals and deferred income

2,966

963,732

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans (see note 9)

100,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

100,000

9.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

100,000

10.	PROVISIONS FOR LIABILITIES

£

Deferred tax

516

Deferred

tax

£

Provided during period

516

Balance at 30 November 2018

516

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

12.

RESERVES

Retained

earnings

£

Profit for the period

4,742

Dividends

(4,000

)

At 30 November 2018

742

13.	ULTIMATE CONTROLLING PARTY

The directors have ultimate control of the company.