GPS Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03680827 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

GPS PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J J Gill

Mr D Gill

REGISTERED OFFICE:

Room 212, Endeavour House

Wrest Park

Silsoe

Bedfordshire

MK45 4HS

REGISTERED NUMBER:

03680827 (England and Wales)

AUDITORS:

FKCA Limited

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

CURRENT ASSETS

Stocks

4

2,000

2,000

CREDITORS

Amounts falling due within one year

5

112,330

113,180

NET CURRENT LIABILITIES

(110,330

)

(111,180

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(110,330

)

(111,180

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(110,332

)

(111,182

)

SHAREHOLDERS' FUNDS

(110,330

)

(111,180

)

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 on 30 September 2019 and were signed on its behalf by:

Mr J J Gill - Director

Mr D Gill - Director

1.	STATUTORY INFORMATION

GPS Properties Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts have been prepared on the going concern basis, which the directors consider to be appropriate as

the company, together with support from it's parent, has sufficient resources to meet future commitments as they

fall due.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 (Section

1A) 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of

activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the

valuation of work in progress.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.

STOCKS

2018

2017

£

£

Stocks

2,000

2,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

78,071

78,071

Amounts owed to group undertakings

34,259

34,259

Accrued expenses

-

850

112,330

113,180

6.	SECURED DEBTS

National Westminster Bank PLC holds a fixed and floating charge over the undertaking and all property and

assets present and future.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Stephen Mason BSC ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

8.	RELATED PARTY DISCLOSURES

The company's bankers have been given a cross guarantee in respect of GPS Estates Limited, GPS Properties

Limited and Herdecke Properties Limited.

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of GPS Estates Limited and incorporated in the United Kingdom.

The ultimate controlling parties are Mr J and Mr D Gill by virtue of their shareholding in GPS Estates Limited

with the registered office of Room 212, Endeavour House, Wrest Park, Silsoe, Bedfordshire, MK45 4HS.

Copies of the accounts of GPS Estates Limited can be obtained from the registered office.