Gp Property Advisors Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07990678 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GP PROPERTY ADVISORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G Parry

REGISTERED OFFICE:

C/o 20 Wynnstay Road

Colwyn Bay

LL29 8NB

REGISTERED NUMBER:

07990678 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

Glaslyn

Ffordd y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Tangible assets

4

89,572

65,864

CURRENT ASSETS

Debtors

5

113,689

111,473

Cash at bank

58,641

22,041

172,330

133,514

CREDITORS

Amounts falling due within one year

6

122,466

50,399

NET CURRENT ASSETS

49,864

83,115

TOTAL ASSETS LESS CURRENT LIABILITIES

139,436

148,979

CREDITORS

Amounts falling due after more than one year

7

(32,694

)

(52,020

)

PROVISIONS FOR LIABILITIES

(17,019

)

(12,514

)

NET ASSETS

89,723

84,445

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

89,623

84,345

SHAREHOLDERS' FUNDS

89,723

84,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 30 October 2023 and were signed by:

Mr G Parry - Director

1.	STATUTORY INFORMATION

Gp Property Advisors 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

107,175

Additions

53,566

At 31 March 2023

160,741

DEPRECIATION

At 1 April 2022

41,311

Charge for year

29,858

At 31 March 2023

71,169

NET BOOK VALUE

At 31 March 2023

89,572

At 31 March 2022

65,864

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

82,854

DEPRECIATION

At 1 April 2022

26,680

Charge for year

14,044

At 31 March 2023

40,724

NET BOOK VALUE

At 31 March 2023

42,130

At 31 March 2022

56,174

5.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

24,177

11,924

Other debtors

1,793

11,830

25,970

23,754

Amounts falling due after more than one year:

Other debtors

87,719

87,719

Aggregate amounts

113,689

111,473

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

5,847

5,535

Hire purchase contracts

14,070

14,131

Trade creditors

45,745

-

Taxation and social security

6,255

6,017

Other creditors

50,549

24,716

122,466

50,399

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts

17,167

30,646

Other creditors

15,527

21,374

32,694

52,020

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

Mr G Parry

Balance outstanding at start of year

9,800

(25,660

)

Amounts advanced

50,732

47,131

Amounts repaid

(66,651

)

(11,671

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,119

)

9,800

9.	RELATED PARTY DISCLOSURES

20 Wynnstay Road Ltd

This company is wholly owned by Mr Glyn Parry.

During the year GP Property Advisors Limited paid rent and service charges of £8,390 to 20 Wynnstay Road Ltd for the property.

The loan balance at the beginning of the year was £85,377 and the loan balance outstanding at 31 March 2023 totalled £87,719. There were no advances or repayments made during the year.