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REGISTERED NUMBER: 12979470 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2023

for

GDMP Investments Limited

GDMP Investments Limited (Registered number: 12979470)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 8

Consolidated Statement of Comprehensive
Income

12

Consolidated Balance Sheet 13

Company Balance Sheet 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Company Cash Flow Statement 19

Notes to the Cash Flow Statements 20

Notes to the Consolidated Financial Statements 22


GDMP Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M P Graves
G A Moreno Carrillo





REGISTERED OFFICE: 70 Heathwood Road
Bournemouth
BH9 2JZ





REGISTERED NUMBER: 12979470 (England and Wales)





AUDITORS: RA Audit Services Limited
2nd Floor
Grove House
55 Lowlands Road
Harrow
Middlesex
HA1 3AW

GDMP Investments Limited (Registered number: 12979470)

Group Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

FAIR REVIEW OF BUSINESS
The group's results for the year and the financial position at the year end were considered satisfactory by the directors.

The Group remains focused on maximizing the value of second-hand products and remaining the leader in each of its 26 trading locations as a go to establishment for technology and entertainment products.

Product warranty, brand awareness and our online presence remain the distinct advantages amongst local competitors and larger national brands, we expect to continue to lean on these areas to leverage our position in the market.

The reduction of cost above store level to enhance profitability remains a focus and work is taking place to deliver more on this front with improved efficiencies in operations through technology and the revision of operational procedures. These efficiencies are expected to deliver gains and improvement in stock and people management, labour cost and stock shrinkage.

These efficiencies are expected to deliver gains and improvement in stock and people management, labour cost and stock shrinkage.


GDMP Investments Limited (Registered number: 12979470)

Group Strategic Report
for the Year Ended 31 December 2023

PRINCIPAL RISKS AND UNCERTAINTIES
There are number of potential risks and uncertainties which could impact group's performance. The board of Directors consider the risks of all significant business decisions and changes in the external environment and group operations. These risks are assessed by the board on a regular basis to ensure they are identified and appropriately managed. The principal risks arise from inaccurate assessment of the products, inappropriate staff and managers training and inefficient internal controls assessment.

Financial risk
The group's financial risk is arising primarily from adjusting buying and selling prices of the products to match demand and supply at a given time.
However, the group is mainly dealing in the second-hand electronic products which are highly technical and the risk has been mitigated by setting fixed prices across the whole franchise.

Competitive risk
UK's franchisee market is competitive, particularly in the high street retail sectors where our business is focused. Many companies have entered the market and are offering similar products which gives rise to competitive pricing structures. The impact of technology has been enormous, and it is essential that we keep abreast of advances in this area. Our Franchisor is one of the leaders in the market, continuous training improvements and product selection criteria has helped us to control competition risk.

Taxation risk
The group is exposed to financial risks from increase in tax rates and changes to the basis of taxation including VAT and corporation tax. Principal controls to mitigate this risk include regular monitoring of legislative proposals and use of experienced sector specific professional advisors to mitigate the impact of changes.

Liquidity risk
The group manages the liquidity risk by ensuring there are sufficient funds to meet the operating needs of the business.

In respect of bank balances, the liquidity risk is managed by maintaining a positive balance between continuity of funding and flexibility through an agreed payment policy. Given the maturity of bank loans, the group is in a position to meet its commitments and obligations as they become due.


GDMP Investments Limited (Registered number: 12979470)

Group Strategic Report
for the Year Ended 31 December 2023


The group's key performance indicators for the year ended 31 December 2022 are as follows:



YE 31.12.23 YE 31.12.22

Turnover £21,998,544 £21,794,620
Gross profit £8,695,598 £8,833,711
Gross profit margin 39.52% 40.53%
Profit before tax £1,031.562 £1,223,491
Shareholders' equity £4,127,963 £3,533,183

The results for the current year has improved which is in line with the management expectations. During the year, the group disposed off one of the loss making subsidiary and planning to close another company which is not performing 0well in the next year.

ON BEHALF OF THE BOARD:





G A Moreno Carrillo - Director


18 September 2024

GDMP Investments Limited (Registered number: 12979470)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITIES
The principal activity of the parent continued to be that of a holding company.

The principal activities of subsidiaries were that of sale and purchase of second hand technological and entertainment products, property investment, licenced restaurants and selling cakes.

DIVIDENDS
No interim dividend was paid during the year. The total distribution of dividends for the year ended 31 December 2023 was £172,205 (2022: £114,145).

FUTURE DEVELOPMENTS
The group continues to focus on presence at prime high street location as the means of sustaining high turnover levels and improving operational efficiencies. The directors are always looking to enhance the value of the business through forward planning, investing in human resources and expansion programmes.

The group is actively managing its capital and cash requirements. The directors are confident that the group will continue to meet all future capital requirements.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

M P Graves
G A Moreno Carrillo


GDMP Investments Limited (Registered number: 12979470)

Report of the Directors
for the Year Ended 31 December 2023

FINANCIAL INSTRUMENTS
The group's principal financial instruments comprise bank balances, trade debtors, trade creditors, balances due to and from related companies and bank borrowings.. The main purpose of these instruments is to raise funds for group's operations and to finance group's trading activities.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding.

Trade debtors are managed in respect of credit and cash flow risk by regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring funds are available to meet amounts due within agreed terms.

Interest rate risk - The Group borrows from its bankers using term loans whose tenure depends on the nature of the asset and management's view of the future direction on interest rate.

In respect of loans due to related entities, these are interest-free and repayable on demand. This allows the group to maintain sufficient funds to meet its payment to creditors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

GDMP Investments Limited (Registered number: 12979470)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, RA Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G A Moreno Carrillo - Director


18 September 2024

Report of the Independent Auditors to the Members of
GDMP Investments Limited

Opinion
We have audited the financial statements of GDMP Investments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement, Company Cash Flow Statement and Notes to the Cash Flow Statements, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
GDMP Investments Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
GDMP Investments Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed
below:

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK taxation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management override of controls. Audit procedures performed by the engagement team included:

- Discussions with those charged with governance;
- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations, and
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness and testing accounting estimates (because of the risk of management bias).

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
GDMP Investments Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Abdul Hafeez ACA, FCCA (Senior Statutory Auditor)
for and on behalf of RA Audit Services Limited
2nd Floor
Grove House
55 Lowlands Road
Harrow
Middlesex
HA1 3AW

24 September 2024

GDMP Investments Limited (Registered number: 12979470)

Consolidated Statement of Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 4 21,998,544 21,794,620

Cost of sales 13,302,946 12,920,909
GROSS PROFIT 8,695,598 8,873,711

Administrative expenses 7,642,952 7,950,722
1,052,646 922,989

Other operating income 5 33,994 403,980
OPERATING PROFIT 7 1,086,640 1,326,969

Interest receivable and similar
income

8

31,523

5,649
1,118,163 1,332,618

Interest payable and similar
expenses

9

86,601

109,127
PROFIT BEFORE TAXATION 1,031,562 1,223,491

Tax on profit 10 265,377 253,317
PROFIT FOR THE FINANCIAL YEAR 766,185 970,174

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

766,185

970,174

Profit attributable to:
Owners of the parent 766,185 947,763
Non-controlling interests - 22,411
766,185 970,174

Total comprehensive income attributable to:
Owners of the parent 762,246 947,763
Non-controlling interests 3,939 22,411
766,185 970,174

GDMP Investments Limited (Registered number: 12979470)

Consolidated Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 13 464,146 441,166
Tangible assets 14 2,047,676 1,728,967
Investments 15 - -
Investment property 16 1,006,487 962,177
3,518,309 3,132,310

CURRENT ASSETS
Stocks 17 1,770,834 1,454,998
Debtors 18 1,584,882 1,518,781
Cash at bank and in hand 726,583 1,166,075
4,082,299 4,139,854
CREDITORS
Amounts falling due within one year 19 2,290,644 2,436,829
NET CURRENT ASSETS 1,791,655 1,703,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,309,964

4,835,335

CREDITORS
Amounts falling due after more than
one year

20

(860,265

)

(1,081,782

)

PROVISIONS FOR LIABILITIES 23 (321,736 ) (220,370 )
NET ASSETS 4,127,963 3,533,183

GDMP Investments Limited (Registered number: 12979470)

Consolidated Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 24 1,600 800
Other reserves 85,726 85,726
Retained earnings 4,036,698 3,424,246
SHAREHOLDERS' FUNDS 4,124,024 3,510,772

NON-CONTROLLING INTERESTS 3,939 22,411
TOTAL EQUITY 4,127,963 3,533,183


The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





G A Moreno Carrillo - Director


GDMP Investments Limited (Registered number: 12979470)

Company Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 13 - -
Tangible assets 14 - -
Investments 15 3,781 3,701
Investment property 16 - -
3,781 3,701

CURRENT ASSETS
Debtors 18 1,666,356 1,504,181
Cash at bank 3,653 86,420
1,670,009 1,590,601
CREDITORS
Amounts falling due within one year 19 9,948 16,753
NET CURRENT ASSETS 1,660,061 1,573,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,663,842

1,577,549

CAPITAL AND RESERVES
Called up share capital 24 1,600 1,600
Retained earnings 1,662,242 1,575,949
SHAREHOLDERS' FUNDS 1,663,842 1,577,549

Company's profit for the financial
year

258,498

1,343,506

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





G A Moreno Carrillo - Director


GDMP Investments Limited (Registered number: 12979470)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Other
capital earnings reserves
£    £    £   
Balance at 1 January 2022 2,450 2,590,628 92,585

Changes in equity
Issue of share capital (1,650 ) - -
Dividends - (114,145 ) -
Total comprehensive income - 947,763 (6,859 )
Balance at 31 December 2022 800 3,424,246 85,726

Changes in equity
Issue of share capital 800 - -
Dividends - (172,205 ) -
Total comprehensive income - 766,185 -
Balance at 31 December 2023 1,600 4,018,226 85,726
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 January 2022 2,685,663 - 2,685,663

Changes in equity
Issue of share capital (1,650 ) - (1,650 )
Dividends (114,145 ) - (114,145 )
Total comprehensive income 940,904 22,411 963,315
Balance at 31 December 2022 3,510,772 22,411 3,533,183

Changes in equity
Issue of share capital 800 - 800
Dividends (172,205 ) - (172,205 )
Total comprehensive income 766,185 3,939 770,124
Balance at 31 December 2023 4,105,552 26,350 4,131,902

GDMP Investments Limited (Registered number: 12979470)

Company Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 2,450 346,588 349,038

Changes in equity
Issue of share capital (850 ) - (850 )
Dividends - (114,145 ) (114,145 )
Total comprehensive income - 1,343,506 1,343,506
Balance at 31 December 2022 1,600 1,575,949 1,577,549

Changes in equity
Dividends - (172,205 ) (172,205 )
Total comprehensive income - 258,498 258,498
Balance at 31 December 2023 1,600 1,662,242 1,663,842

GDMP Investments Limited (Registered number: 12979470)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,709,536 190,537
Interest paid (86,601 ) (109,127 )
Tax paid (336,348 ) (237,038 )
Net cash from operating activities 1,286,587 (155,628 )

Cash flows from investing activities
Purchase of intangible fixed assets (134,180 ) -
Purchase of tangible fixed assets (679,510 ) (834,192 )
Purchase of fixed asset investments - 100
Purchase of investment property (44,310 ) (11,795 )
Sale of intangible fixed assets - 63,679
Sale of tangible fixed assets 2,734 355,393
Sale of fixed asset investments - 850
Interest received 31,523 5,649
Net cash from investing activities (823,743 ) (420,316 )

Cash flows from financing activities
New loans in year - 237,196
Loan repayments in year (730,879 ) -
Amount withdrawn by directors (56 ) -
Share issue 800 -
Share reduction - 850
Equity dividends paid (172,205 ) (114,145 )
Net cash from financing activities (902,340 ) 123,901

Decrease in cash and cash equivalents (439,496 ) (452,043 )
Cash and cash equivalents at
beginning of year

2

1,166,075

1,618,118

Cash and cash equivalents at end
of year

2

726,579

1,166,075

GDMP Investments Limited (Registered number: 12979470)

Company Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (164,695 ) (1,323,266 )
Net cash from operating activities (164,695 ) (1,323,266 )

Cash flows from investing activities
Purchase of fixed asset investments (80 ) (2,651 )
Sale of fixed asset investments - 850
Interest received 8,113 -
Dividends received 246,100 1,525,894
Net cash from investing activities 254,133 1,524,093

Cash flows from financing activities
Share capital reduction - (850 )
Equity dividends paid (172,205 ) (114,145 )
Net cash from financing activities (172,205 ) (114,995 )

(Decrease)/increase in cash and cash equivalents (82,767 ) 85,832
Cash and cash equivalents at
beginning of year

2

86,420

588

Cash and cash equivalents at end
of year

2

3,653

86,420

GDMP Investments Limited (Registered number: 12979470)

Notes to the Cash Flow Statements
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Group
31.12.23 31.12.22
£    £   
Profit before taxation 1,031,562 1,223,491
Depreciation charges 461,170 525,055
Loss/(profit) on disposal of fixed assets 8,093 (132,261 )
Finance costs 86,601 109,127
Finance income (31,523 ) (5,649 )
1,555,903 1,719,763
Increase in stocks (315,836 ) (164,155 )
Increase in trade and other debtors (66,046 ) (1,028,160 )
Increase/(decrease) in trade and other creditors 535,515 (336,911 )
Cash generated from operations 1,709,536 190,537

Company
31.12.23 31.12.22
£    £   
Profit before taxation 261,806 1,343,506
Finance income (254,213 ) (1,525,894 )
7,593 (182,388 )
Increase in trade and other debtors (162,175 ) (1,154,381 )
(Decrease)/increase in trade and other creditors (10,113 ) 13,503
Cash generated from operations (164,695 ) (1,323,266 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statements in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Group Company
Year ended 31 December 2023
31.12.23 1.1.23 31.12.23 1.1.23
£    £    £    £   
Cash and cash equivalents 726,583 1,166,075 3,653 86,420
Bank overdrafts (4 ) - - -
726,579 1,166,075 3,653 86,420
Year ended 31 December 2022
31.12.22 1.1.22 31.12.22 1.1.22
£    £    £    £   
Cash and cash equivalents 1,166,075 1,618,118 86,420 588

GDMP Investments Limited (Registered number: 12979470)

Notes to the Cash Flow Statements
for the Year Ended 31 December 2023


3. ANALYSIS OF CHANGES IN NET DEBT

Group
At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 1,166,075 (439,492 ) 726,583
Bank overdrafts - (4 ) (4 )
1,166,075 (439,496 ) 726,579
Debt
Debts falling due within 1 year (532,721 ) 509,366 (23,355 )
Debts falling due after 1 year (1,081,782 ) 221,517 (860,265 )
(1,614,503 ) 730,883 (883,620 )
Total (448,428 ) 291,387 (157,041 )
Company
At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 86,420 (82,767 ) 3,653
86,420 (82,767 ) 3,653
Total 86,420 (82,767 ) 3,653

GDMP Investments Limited (Registered number: 12979470)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GDMP Investments 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 General 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" and the companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value.

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

Basis of consolidation
In the parent company financial statements, the cost of business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount contingent consideration that is probable and can be measured reliably and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investment in subsidiaries are accounted for at cost less impairment.

The consolidated financial statements incorporate those of GDMP Investments Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made up to 31 December 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Going concern
Management has considered the post balance sheet events, and other conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon group's ability to continue as a going concern. Improving operating results and financial position after the balance sheet date indicates the going concern assumption is still appropriate.

GDMP Investments Limited (Registered number: 12979470)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows :

Sales of goods
Turnover from sale of electronics is recognised when significant risk and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the Company and the cost incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when goods are processed through the Company's outlet till and handed over to the customers or processed through internet and goods are dispatched. Sales are recognised in the accounts at the earlier of money received or point of sale.

Turnover for the group also includes restaurant sales, sell of cakes and rent receivable from investment properties.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life of ten years.

Patents and licences
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchisee fees are being amortised over their estimated useful life of 5 - 10 years.

Computer software is being amortised evenly over its estimated useful life of 5 years.

GDMP Investments Limited (Registered number: 12979470)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Short leasehold - 10% on reducing balance
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on cost
Computer equipment - 33% on reducing balance

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property
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. The surplus or deficit on revaluation is recognised in profit or loss account.

Stocks
Stocks are stated at the lower of cost and net realisable value. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Stock includes unsold electronics and unused raw materials at the year end.

Reversals of impairment losses are also recognised in profit or loss.

GDMP Investments Limited (Registered number: 12979470)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provision of Section 11 `Basic Financial Instruments` and Section 12 Other Financial Instruments Issues` of FRS 102 to all of its financial instruments.

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 arrangements constitute 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.

Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity is any contract that evidences are residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities include creditors and bank loans are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts 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.

Taxation
Taxation for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


GDMP Investments Limited (Registered number: 12979470)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks and bank overdraft. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they no longer at the discretion of the company.

Exchange liabilities
The group purchases second hand electronic goods from the general public for a non-cash consideration by issuing 'Exchange Voucher'. The exchange vouchers are redeemable in exchange for other goods from any shop operated by the Franchisor but can not be redeemed for cash. The vouchers have no expiry date. Exchange liability vouchers are recognised at transaction price.

GDMP Investments Limited (Registered number: 12979470)

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

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCER

In the application of the group's accounting policies, the directors are required to make judgments estimates and assumptions about the carrying amount of the assets and liabilities that are not readily apparent from other are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


Key sources of estimation uncertainty
The following judgements have had the most significant effect on amounts recognised in the financial statements.

Useful lives of intangible fixed assets
Intangible fixed assets consist of goodwill and fanchisee fees. The annual amortisation charge depends on estimated useful economic life of the asset. The directors regularly review the remaining useful life of these assets. Changes in asset's useful economic life can have a significant impact on amortisation charge for the period. Detail of the useful economic life is included in accounting policies.

Useful lives of tangible fixed assets
The costs of tangible fixed assets less their residual value are depreciated over their estimated useful economic lives which are estimated by the director. Changes in the expected level of usage and technological developments could impact on the useful economic lives of these assets; therefore, further depreciation charges could be revised.

Exchange liabilities
The group purchases second hand electronic goods from the general public for a non-cash consideration by issuing 'Exchange Voucher'. These vouchers have no expiry date. Based on the knowledge of the industry, the company keeps the exchange liability for last 4 years as amounts due within one year and the balance is written off profit or loss account.

4. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

31.12.23 31.12.22
£    £   
Second hand electronic sales 21,936,764 20,369,828
Restaurant sales - 1,133,401
Cake sales - 244,593
Rental income 61,780 46,798
21,998,544 21,794,620

GDMP Investments Limited (Registered number: 12979470)

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

5. OTHER OPERATING INCOME
31.12.23 31.12.22
£    £   
Sundry receipts 33,994 92,830
Job retention scheme grant - 2,196
Kickstart scheme grant - 308,954
33,994 403,980

6. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,814,836 3,446,223
Social security costs 170,274 213,594
Other pension costs 99,308 141,259
3,084,418 3,801,076

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 5 7
Engineer 6 6
Store assistant 213 197
224 210

31.12.23 31.12.22
£    £   
Directors' remuneration 12,396 12,496

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Hire of plant and machinery 745 366
Other operating leases 53,916 147,291
Depreciation - owned assets 349,974 384,550
Loss/(profit) on disposal of fixed assets 8,093 (92,261 )
Goodwill amortisation 104,454 117,953
Patents and licences amortisation 6,746 7,137
Computer software amortisation - 4,719
Auditors' remuneration 16,047 17,500

GDMP Investments Limited (Registered number: 12979470)

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

8. INTEREST RECEIVABLE AND SIMILAR INCOME
31.12.23 31.12.22
£    £   
Deposit account interest 23,410 5,597
Other interest receivable 8,113 52
31,523 5,649

9. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest payable 43,199 109,127
Mortgage 43,402 -
86,601 109,127

10. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 211,957 232,029
Over provision previous year (47,945 ) -
Total current tax 164,012 232,029

Deferred tax 101,365 21,288
Tax on profit 265,377 253,317

GDMP Investments Limited (Registered number: 12979470)

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

10. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 1,031,562 1,223,491
Profit multiplied by the standard rate of corporation tax in the
UK of 25 % (2022 - 19 %)

257,891

232,463

Effects of:
Expenses not deductible for tax purposes 7,622 5,451
Income not taxable for tax purposes - (29,458 )
Capital allowances in excess of depreciation (30,365 ) -
Depreciation in excess of capital allowances - 40,362
Utilisation of tax losses (7,573 ) -
Adjustments to tax charge in respect of previous periods (47,945 ) -
Chargeable gain - 13,306
Deferred tax 101,365 21,288
Unused tax losses - 6,408
Group adjustments (1,846 ) (36,503 )
Marginal rate difference (13,772 ) -
Total tax charge 265,377 253,317

11. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


12. DIVIDENDS
31.12.23 31.12.22
£    £   
A to F Ordinary shares of £1 each
Final - 114,145
Interim 172,205 -
172,205 114,145

GDMP Investments Limited (Registered number: 12979470)

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

13. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023 1,378,488 139,583 1,518,071
Additions 119,180 15,000 134,180
At 31 December 2023 1,497,668 154,583 1,652,251
AMORTISATION
At 1 January 2023 937,856 139,049 1,076,905
Amortisation for year 104,454 6,746 111,200
At 31 December 2023 1,042,310 145,795 1,188,105
NET BOOK VALUE
At 31 December 2023 455,358 8,788 464,146
At 31 December 2022 440,632 534 441,166

14. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
COST
At 1 January 2023 533,934 63,633 376,554 2,702,220
Additions - - 170,134 432,432
Disposals - - - (19,049 )
At 31 December 2023 533,934 63,633 546,688 3,115,603
DEPRECIATION
At 1 January 2023 - 49,219 59,984 1,974,452
Charge for year - 2,915 65,916 219,779
Eliminated on disposal - - - (8,448 )
At 31 December 2023 - 52,134 125,900 2,185,783
NET BOOK VALUE
At 31 December 2023 533,934 11,499 420,788 929,820
At 31 December 2022 533,934 14,414 316,570 727,768

GDMP Investments Limited (Registered number: 12979470)

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

14. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 - 220,770 226 3,897,337
Additions 76,944 - - 679,510
Disposals - - (226 ) (19,275 )
At 31 December 2023 76,944 220,770 - 4,557,572
DEPRECIATION
At 1 January 2023 - 84,715 - 2,168,370
Charge for year 27,350 34,014 - 349,974
Eliminated on disposal - - - (8,448 )
At 31 December 2023 27,350 118,729 - 2,509,896
NET BOOK VALUE
At 31 December 2023 49,594 102,041 - 2,047,676
At 31 December 2022 - 136,055 226 1,728,967

15. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023 3,701
Additions 80
At 31 December 2023 3,781
NET BOOK VALUE
At 31 December 2023 3,781
At 31 December 2022 3,701

GDMP Investments Limited (Registered number: 12979470)

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

15. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

GDMP Limited
Registered office: 70 Heathwood road, Bournemouth, Dorset, BH9 2JZ
Nature of business: Sale of second hand electronics
%
Class of shares: holding
A,B,C, D, E, F Ordinary shares 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 2,544,801 1,928,512
Profit for the year 837,089 1,092,453

GDMP Properties Limited
Registered office: 70 Heathwood road, Bournemouth, Dorset, BH9 2JZ
Nature of business: Property Investment
%
Class of shares: holding
Ordinary shares 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 91,812 100,020
(Loss)/profit for the year (8,208 ) 9,019

GDMP Iberia SL
Registered office: Calle Conde De Aranda, Nu.20 Planata 4, Puerta DCH 28001, Madrid
Nature of business: Dormant
%
Class of shares: holding
Ordinary shares 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 100 100

Every Cake Limited
Registered office: 70 Heathwood road, Bournemouth, Dorset, BH9 2JZ
Nature of business: Sale of cakes
%
Class of shares: holding
Ordinary shares 75.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 9,375 19,118
Profit for the year 17,757 89,644

GDMP Investments Limited (Registered number: 12979470)

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

15. FIXED ASSET INVESTMENTS - continued

Issho Soihull Limited
Registered office: 70 Heathwood Road, Bournemouth, BH9 2JZ
Nature of business:
%
Class of shares: holding
Ordinary 100.00
31.12.23
£   
Aggregate capital and reserves (100,040 )
Loss for the year (96,181 )


AUDIT EXEMPTION OF SUBSIDIARIES

For the financial year ended 31 December 2022, Every Cake Limited has claimed exemption from audit under S479A of the companies act relating to subsidiary companies.

GDMP Iberia SL has claimed exemption from audit under section 480 of the companies act relating to dormant companies.

In accordance with S405 of the Companies Act 2006, GDMP Iberia SL has been excluded from consolidation as it is dormant.

16. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 January 2023 962,177
Additions 44,310
At 31 December 2023 1,006,487
NET BOOK VALUE
At 31 December 2023 1,006,487
At 31 December 2022 962,177

In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet date.

17. STOCKS

Group
31.12.23 31.12.22
£    £   
Stocks 1,770,834 1,454,998

GDMP Investments Limited (Registered number: 12979470)

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

18. DEBTORS

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Amounts falling due within one year:
Trade debtors 12,444 5,852 - -
Purchase ledger debit balance 23,433 140,154 - -
Amounts owed by group undertakings - - 587,528 500,929
Other debtors 1,094,316 863,495 808,383 732,807
Directors' current accounts 56 - - -
Prepayments and accrued income 184,188 238,835 - -
1,314,437 1,248,336 1,395,911 1,233,736

Amounts falling due after more than one year:
Other debtors 270,445 270,445 270,445 270,445

Aggregate amounts 1,584,882 1,518,781 1,666,356 1,504,181

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Bank loans and overdrafts (see note 21)
23,359

532,721

-

-
Trade creditors 254,717 327,319 10 600
Exchange liability 682,315 552,623 - -
Amounts owed to group undertakings - - 80 -
Tax 32,408 204,744 3,308 -
Social security and other taxes 34,496 32,929 - -
VAT 310,984 260,810 - -
Other creditors 593,828 287,498 - 10,950
Accrued expenses 358,537 238,185 6,550 5,203
2,290,644 2,436,829 9,948 16,753

20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
31.12.23 31.12.22
£    £   
Bank loans (see note 21) 860,265 1,081,782

GDMP Investments Limited (Registered number: 12979470)

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

21. LOANS

An analysis of the maturity of loans is given below:

Group
31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4 -
Bank loans 23,355 532,721
23,359 532,721
Amounts falling due between two and five years:
Bank loans - 2-5 years 93,421 313,351
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 766,844 768,431

Included within other creditors falling due within one year and creditors falling due after more than one year is £Nil (2022: £320,833) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme. The loan is repayable by 2024 and interest is charged at 3.99% above base rate per annum on this loan.

Included within other creditors falling due within one year and creditors falling due after more than one year are bank loans totalling £Nil (2022: £386,694). The loan is repayable by 2024 and interest is charged at commercial rates.

The above bank loans are trading loans and are secured by a fixed and floating charge over present and future assets of the group.

Included within other creditors falling due within one year and creditors falling due after more than one year is £883,620 (2022: £906,976) in respect of a bank loan. The bank loan is on properties and is secured by a fixed and floating charge over the assets of the group.

22. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

GDMP Investments Limited (Registered number: 12979470)

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

Group
Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 707,200 744,075
Between one and five years 1,576,836 2,012,265
In more than five years 649,133 916,904
2,933,169 3,673,244

23. PROVISIONS FOR LIABILITIES

Group
31.12.23 31.12.22
£    £   
Deferred tax 321,736 220,370

Group
Deferred
tax
£   
Balance at 1 January 2023 220,370
Charge to Statement of Comprehensive Income during year 101,366
Balance at 31 December 2023 321,736

24. CALLED UP SHARE CAPITAL

Numbers Class Nominal Value £
196 A Ordinary £1 196
196 B Ordinary £1 196
392 C Ordinary £1 392
424 D Ordinary £1 424
196 E Ordinary £1 196
196 F Ordinary £1 196


A to F Ordinary shares carry full voting rights and full entitlement to profit and capital distribution. .

GDMP Investments Limited (Registered number: 12979470)

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

25. RELATED PARTY DISCLOSURES

Other creditors due within one year includes balance of £15,927 (2022: £15,927) due to the shareholders and £202,000 (2022: £222,000) due to the shareholders' family members.

Included in debtors due within one year is an amount due from following companies connected to the director G A Moreno Carrillo:

Issho Limited : £808,007 (2022 : £638,007)
Issho Gateshead Ltd : £Nil (2022 : £18,000)
Issho Birmingham Ltd : £Nil (2022 : £18,000)

Company

Included in debtors due within one year is an amount due from following companies connected to the director G A Moreno Carrillo:

Issho Limited : £808,007 (2022 : £638,007)
Issho Gateshead Ltd : £Nil (2022 : £18,000)
Issho Birmingham Ltd : £Nil (2022 : £18,000)

26. POST BALANCE SHEET EVENTS

After the year end, the group decided to close 2 of it's loss making subsidiaries, Issho Solihull Limited and Every Cake Limited. This will not have any impact on group as a going concern.

27. ULTIMATE CONTROLLING PARTY

The group and the company is controlled by all the shareholders with no one party having an overall control.

28. GUARANTEE

There is unlimited multilateral guarantee between GDMP Limited, and related company H &D Estates Limited in respect of bank loans.