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REGISTERED NUMBER: 00374458 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

GPX HOLDINGS LIMITED

GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GPX HOLDINGS LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M Glazer
A H Glazer





REGISTERED OFFICE: Spitalfields House 1st Floor
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: 00374458 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,538 2,986
Investment property 5 7,600,000 7,600,000
7,602,538 7,602,986

CURRENT ASSETS
Debtors 6 825,000 76,440
Investments 7 524,273 428,405
Cash at bank 237,098 599,386
1,586,371 1,104,231
CREDITORS
Amounts falling due within one year 8 (451,628 ) (416,915 )
NET CURRENT ASSETS 1,134,743 687,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,737,281

8,290,302

PROVISIONS FOR LIABILITIES (540,683 ) (379,994 )
NET ASSETS 8,196,598 7,910,308

CAPITAL AND RESERVES
Called up share capital 126,400 126,400
Share premium 292,301 292,301
Other reserves 1,833,890 1,898,712
Retained earnings 5,944,007 5,592,895
8,196,598 7,910,308

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Balance Sheet - continued
31 July 2023


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 and authorised for issue on 7 November 2023 and were signed on its behalf by:





A H Glazer - Director


GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

GPX Holdings 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Judgements in respect of fair value of investment properties have had the most significant effects on amounts recognised in the financial statements.

Turnover
Revenue 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.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.


GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Investments
Investments are listed shares stated at their fair value on the Balance Sheet date, derived from the current market prices.Changes in fair value are recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 6,628
DEPRECIATION
At 1 August 2022
and 31 July 2023 4,090
NET BOOK VALUE
At 31 July 2023 2,538
At 31 July 2022 2,538

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 7,600,000
NET BOOK VALUE
At 31 July 2023 7,600,000
At 31 July 2022 7,600,000

Freehold properties were valued on an open market basis on 31 July 2023 by the directors.

GPX HOLDINGS LIMITED (REGISTERED NUMBER: 00374458)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors - 1,440
Other debtors 825,000 75,000
825,000 76,440

7. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Listed investments 524,273 -
Unlisted investments - 428,405
524,273 428,405

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 45 36
Taxation and social security 181,206 149,042
Other creditors 270,377 267,837
451,628 416,915