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Registered number: 12252352
GMPE Property Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
De La Wyche Baker Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12252352
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 330,332 181,715
330,332 181,715
CURRENT ASSETS
Debtors 5 20,869 6,940
Cash at bank and in hand 1,855 5,208
22,724 12,148
Creditors: Amounts Falling Due Within One Year 6 (152,299 ) (147,059 )
NET CURRENT ASSETS (LIABILITIES) (129,575 ) (134,911 )
TOTAL ASSETS LESS CURRENT LIABILITIES 200,757 46,804
Creditors: Amounts Falling Due After More Than One Year 7 (391,566 ) (196,658 )
NET LIABILITIES (190,809 ) (149,854 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (190,909 ) (149,954 )
SHAREHOLDERS' FUNDS (190,809) (149,854)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Ramsey
Director
26 July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
GMPE Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12252352 . The registered office is 7 St. Petersgate, Stockport, SK1 1EB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Motor Vehicles 25% Reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
1 2
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Total
£ £ £
Cost
As at 1 November 2022 176,182 11,300 187,482
Additions 150,000 - 150,000
As at 31 October 2023 326,182 11,300 337,482
Depreciation
As at 1 November 2022 - 5,767 5,767
Provided during the period - 1,383 1,383
As at 31 October 2023 - 7,150 7,150
Net Book Value
As at 31 October 2023 326,182 4,150 330,332
As at 1 November 2022 176,182 5,533 181,715
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by participating interests 20,284 3,045
Other debtors 585 3,895
20,869 6,940
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 152,299 147,059
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 46,150 45,982
Other loans 345,416 150,676
391,566 196,658
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
The total of remuneration and dividends paid to directors is considered to be a normal market rate for the work that they do for the company and the profits that this work generates.
For a small limited company it is considered normal market practice for directors who are also shareholders to take their income from the company as a mixture of remuneration and dividends.
It is therefore not considered necessary to disclose these transactions in the financial statements as Related Party Transactions, on the basis that they have been concluded under normal market conditions.
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