G I P (Properties) Limited - Accounts to registrar (filleted) - small 18.2
G I P (Properties) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Year Ended 31 March 2021 |
| for |
| G I P (Properties) Limited |
| G I P (Properties) Limited (Registered number: 03085697) |
| Contents of the Financial Statements |
| For The Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| G I P (Properties) Limited |
| Company Information |
| For The Year Ended 31 March 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 10-12 Mulberry Green |
| Old Harlow |
| Essex |
| CM17 0ET |
| G I P (Properties) Limited (Registered number: 03085697) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| G I P (Properties) Limited (Registered number: 03085697) |
| Notes to the Financial Statements |
| For The Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| G I P (Properties) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities |
| 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 |
| Long leasehold | - |
| Plant and machinery | - |
| Financial instruments |
| The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments |
| The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors. |
| Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Debtors |
| Short terms debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| G I P (Properties) Limited (Registered number: 03085697) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2020 - |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2020 |
| Disposals | ( |
) | ( |
) |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Cost or valuation at 31 March 2021 is represented by: |
| Long | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| Valuation in 2015 | 203,684 | 20,484 | 224,168 |
| Valuation in 2021 | (203,684 | ) | - | (203,684 | ) |
| - | 20,484 | 20,484 |
| G I P (Properties) Limited (Registered number: 03085697) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If the leasehold property had not been revalued it would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 156,316 | 156,316 |
| The leasehold property was valued on an open market basis on 11 June 2015 by Rona . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax |
| Other timing differences | - | 38,699 |
| Deferred tax | - | 390 |
| - | 39,089 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2020 |
| Credit to Statement of Income and Retained Earnings during year | ( |
) |
| Balance at 31 March 2021 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 30 | 30 |
| G I P (Properties) Limited (Registered number: 03085697) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 March 2021 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2020 |
| Property revaluation | (203,684 | ) |
| At 31 March 2021 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is GID Holding Limited. |
| The ultimate controlling party is |