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REGISTERED NUMBER: 12843189 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Gdmp Properties Limited

Gdmp Properties Limited (Registered number: 12843189)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gdmp Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G A Moreno Carrillo





REGISTERED OFFICE: 70 Heathwood Road
Bournemouth
BH9 2JZ





REGISTERED NUMBER: 12843189 (England and Wales)





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

Gdmp Properties Limited (Registered number: 12843189)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,540,421 1,496,111

CURRENT ASSETS
Debtors 5 21,186 15,261
Cash at bank 6,021 34,459
27,207 49,720
CREDITORS
Amounts falling due within one year 6 586,975 537,968
NET CURRENT LIABILITIES (559,768 ) (488,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

980,653

1,007,863

CREDITORS
Amounts falling due after more than
one year

7

(860,265

)

(879,267

)

PROVISIONS FOR LIABILITIES 9 (28,576 ) (28,576 )
NET ASSETS 91,812 100,020

CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves 85,726 85,726
Retained earnings 5,986 14,194
SHAREHOLDERS' FUNDS 91,812 100,020

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





G A Moreno Carrillo - Director


Gdmp Properties Limited (Registered number: 12843189)

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

1. STATUTORY INFORMATION

Gdmp Properties 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.

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.

Turnover
Turnover represents rent receivable in the period. Income is recognised in the period to which it relates.

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.

Gdmp Properties Limited (Registered number: 12843189)

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

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

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies 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.

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.

Taxation
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 company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


Gdmp Properties Limited (Registered number: 12843189)

Notes to the 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,496,111
Additions 44,310
At 31 December 2023 1,540,421
NET BOOK VALUE
At 31 December 2023 1,540,421
At 31 December 2022 1,496,111

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.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 7,990 -
Other debtors 8,207 8,007
Prepayments and accrued income 4,989 7,254
21,186 15,261

Gdmp Properties Limited (Registered number: 12843189)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 23,355 27,709
Trade creditors 2,367 4,550
Amounts owed to group undertakings 554,499 498,249
Tax - 2,116
Accrued expenses 6,754 5,344
586,975 537,968

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 93,421 110,836
Bank loans more 5 yr by instal 766,844 768,431
860,265 879,267

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 766,844 768,431

8. SECURED DEBTS

Included within other creditors falling due within one year and creditors falling due after more than one year is £883,621 (2022: £906,976) in respect of a bank loan. The bank loan is secured by a fixed and floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 28,576 28,576

Deferred
tax
£   
Balance at 1 January 2023 28,576
Charge to equity
Balance at 31 December 2023 28,576

Gdmp Properties Limited (Registered number: 12843189)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Abdul Hafeez ACA, FCCA (Senior Statutory Auditor)
for and on behalf of RA Audit Services Limited

12. ULTIMATE PARENT COMPANY

The company's parent company is GDMP Investments Limited , a company registered in England and Wales. The results of GDMP Properties Limited are included in consolidated financial statements of GDMP Investments Limited which are available from their registered office address 70 Heathwood Road, Bournemouth, England, BH9 2JZ.