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Registration number: 04749324

GPM Properties Limited

trading as Hunters Little Sutton

Annual Report and Unaudited Financial Statements

for the Year Ended 28 April 2023

 

GPM Properties Limited

trading as Hunters Little Sutton

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

GPM Properties Limited

trading as Hunters Little Sutton

Company Information

Director

Mr G P Mc Kelvey

Registered office

339 Chester Road
Little Sutton
Ellesmere Port
Wirral
CH66 3RG

Accountants

G W Kelly & Company
Chartered Certified Accountants
3 Stadium Court
Plantation Road
Bromborough
Merseyside
CH62 3QG

 

GPM Properties Limited

trading as Hunters Little Sutton

(Registration number: 04749324)
Balance Sheet as at 28 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,860

3,651

Current assets

 

Debtors

6

73,350

59,138

Creditors: Amounts falling due within one year

7

(64,916)

(46,463)

Net current assets

 

8,434

12,675

Total assets less current liabilities

 

11,294

16,326

Creditors: Amounts falling due after more than one year

7

(10,417)

(15,417)

Net assets

 

877

909

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

875

907

Shareholders' funds

 

877

909

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 January 2024
 

.........................................
Mr G P Mc Kelvey
Director

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
339 Chester Road
Little Sutton
Ellesmere Port
Wirral
CH66 3RG

These financial statements were authorised for issue by the director on 31 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% straight line

Fixtures & fittings

20% straight line

Equipment

20% straight line

Motor vehicles

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 Years straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 29 April 2022

26,249

26,249

At 28 April 2023

26,249

26,249

Amortisation

At 29 April 2022

26,249

26,249

At 28 April 2023

26,249

26,249

Carrying amount

At 28 April 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 29 April 2022

12,609

4,500

5,081

22,190

Additions

543

-

-

543

At 28 April 2023

13,152

4,500

5,081

22,733

Depreciation

At 29 April 2022

12,333

1,125

5,081

18,539

Charge for the year

209

1,125

-

1,334

At 28 April 2023

12,542

2,250

5,081

19,873

Carrying amount

At 28 April 2023

610

2,250

-

2,860

At 28 April 2022

276

3,375

-

3,651

6

Debtors

Current

2023
£

2022
£

Prepayments

2,757

-

Other debtors

70,593

59,138

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

20,162

22,511

Trade creditors

 

8,731

6,289

Taxation and social security

 

35,454

17,461

Other creditors

 

569

202

 

64,916

46,463

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

10,417

15,417

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

10,417

15,417

 

GPM Properties Limited

trading as Hunters Little Sutton

Notes to the Unaudited Financial Statements for the Year Ended 28 April 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,000

5,000

Bank overdrafts

15,162

17,511

20,162

22,511

10

Related party transactions

Transactions with the director

2023

At 29 April 2022
£

Advances to director
£

Repayments by director
£

At 28 April 2023
£

Mr G P Mc Kelvey

Loan

29,564

32,396

(29,564)

32,396

         
       

 

2022

At 30 April 2021
£

Advances to director
£

Repayments by director
£

At 28 April 2022
£

Mr G P Mc Kelvey

Loan

7,644

29,564

(7,644)

29,564

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

15,117

15,520

Contributions paid to money purchase schemes

267

278

15,384

15,798