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REGISTERED NUMBER: 08072805 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

GM (Cheltenham) Ltd

GM (Cheltenham) Ltd (Registered number: 08072805)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

GM (Cheltenham) Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr C D Gifford





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





BUSINESS ADDRESS: 14 Richardson Court
Lansdown Road
Cheltenham
Gloucestershire
GL51 6QQ





REGISTERED NUMBER: 08072805 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

GM (Cheltenham) Ltd (Registered number: 08072805)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,960 8,022

CURRENT ASSETS
Stocks 5 431,608 295,733
Cash at bank 5,892 19,511
437,500 315,244
CREDITORS
Amounts falling due within one year 6 111,269 150,632
NET CURRENT ASSETS 326,231 164,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,191

172,634

CREDITORS
Amounts falling due after more than one
year

7

213,500

69,500
NET ASSETS 118,691 103,134

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 9 118,688 103,131
SHAREHOLDERS' FUNDS 118,691 103,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GM (Cheltenham) Ltd (Registered number: 08072805)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





Mr C D Gifford - Director


GM (Cheltenham) Ltd (Registered number: 08072805)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

GM (Cheltenham) Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

GM (Cheltenham) Ltd (Registered number: 08072805)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 13,000 1,060 14,060
DEPRECIATION
At 1 June 2023 5,688 350 6,038
Charge for year 1,828 234 2,062
At 31 May 2024 7,516 584 8,100
NET BOOK VALUE
At 31 May 2024 5,484 476 5,960
At 31 May 2023 7,312 710 8,022

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 431,608 295,733

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 47,946 -
Trade creditors 39,746 2,630
Corporation tax 4,133 2,071
VAT 1,583 1,066
Directors' current accounts 6,011 133,015
Accruals and deferred income 1,850 1,850
111,269 150,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 10,000 20,000
Loans from related parties 203,500 49,500
213,500 69,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary "A" £1 1 1
2 Ordinary "B" £1 2 2
3 3

GM (Cheltenham) Ltd (Registered number: 08072805)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. RESERVES
Retained
earnings
£   

At 1 June 2023 103,131
Profit for the year 15,557
At 31 May 2024 118,688

10. RELATED PARTY DISCLOSURES

During the year the director, Mr C D Gifford, made net withdrawals from his account of £127,004. The balance on his account at 31 May 2024 was £6,011 in credit (2023 - £133,015).

Mr Gifford is also a director and shareholder of Homeward Properties Ltd. The balance owing to that company at 31 May 2024 was £203,500 (2023 - £49,500). No interest has been charged on this loan.

11. ULTIMATE CONTROLLING PARTY

Mr C D Gifford is the ultimate controlling party by virtue of his holding all of the company's issued, voting share capital.

GM (Cheltenham) Ltd

Report of the Accountants to the Director of
GM (Cheltenham) Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA


16 October 2024