GD Properties Ltd
Unaudited Financial Statements
For the year ended 28 February 2023
Pages for Filing with Registrar
Company Registration No. 09980482 (England and Wales)
GD Properties Ltd
Company Information
Director
G Dudman
Company number
09980482
Registered office
155B Algernon Road
London
United Kingdom
SE13 7AP
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
GD Properties Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GD Properties Ltd
Balance Sheet
As at 28 February 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
529,366
529,366
Current assets
Debtors
5
1,991
1,031
Cash at bank and in hand
8,153
7,482
10,144
8,513
Creditors: amounts falling due within one year
6
(130,135)
(166,089)
Net current liabilities
(119,991)
(157,576)
Total assets less current liabilities
409,375
371,790
Creditors: amounts falling due after more than one year
7
(426,650)
(386,382)
Net liabilities
(17,275)
(14,592)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(17,276)
(14,593)
Total equity
(17,275)
(14,592)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

GD Properties Ltd
Balance Sheet (Continued)
As at 28 February 2023
Page 2

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 November 2023
G Dudman
Director
Company Registration No. 09980482
GD Properties Ltd
Notes to the Financial Statements
For the year ended 28 February 2023
Page 3
1
Accounting policies
Company information

GD Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 155B Algernon Road, London, United Kingdom, SE13 7AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the year end, the company’s balance sheet shows an excess of liabilities over assets. The company meets its working capital requirements through continued financial support of the director. For this reason, the director believes that it is appropriate for these financial statements to be prepared on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the retention income from investment properties in the normal course of business which consist of rental income from investment properties and interest receivable.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

GD Properties Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2023
1
Accounting policies
(Continued)
Page 4
1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022:1).

 

 

3
Taxation

The company has tax losses of £16,977 (2022: £14,294) available for carry forward against future profits.

4
Investment property
2023
£
Fair value
At 1 March 2022 and 28 February 2023
529,366

The historical cost of the investment properties at the year end was £529,366 (2022: £529,366). The director does not consider the historical cost to be materially different from the fair value of the properties.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,259
350
Prepayments and accrued income
732
681
1,991
1,031
GD Properties Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2023
Page 5
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
128,335
164,289
Accruals and deferred income
1,800
1,800
130,135
166,089
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
426,650
386,382

The mortgage is secured by a fixed charge over the investment property.

8
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
9
Related party transactions

Other creditors includes £122,110 (2022: £160,310) in respect of directors' loan accounts.

2023-02-282022-03-01false28 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityG Dudman099804822022-03-012023-02-2809980482bus:Director12022-03-012023-02-2809980482bus:RegisteredOffice2022-03-012023-02-28099804822023-02-28099804822022-02-2809980482core:CurrentFinancialInstruments2023-02-2809980482core:CurrentFinancialInstruments2022-02-2809980482core:Non-currentFinancialInstruments2023-02-2809980482core:Non-currentFinancialInstruments2022-02-2809980482core:ShareCapital2023-02-2809980482core:ShareCapital2022-02-2809980482core:RetainedEarningsAccumulatedLosses2023-02-2809980482core:RetainedEarningsAccumulatedLosses2022-02-28099804822022-02-2809980482bus:PrivateLimitedCompanyLtd2022-03-012023-02-2809980482bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2809980482bus:FRS1022022-03-012023-02-2809980482bus:AuditExemptWithAccountantsReport2022-03-012023-02-2809980482bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP