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REGISTERED NUMBER: 09625939 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

GCP VENTURES (EMBASSY COURT) LIMITED

GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,641,850 2,641,850

CURRENT ASSETS
Debtors 5 74,116 63,664
Cash at bank and in hand 1,198 2,403
75,314 66,067
CREDITORS
Amounts falling due within one year 6 160,617 142,206
NET CURRENT LIABILITIES (85,303 ) (76,139 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,556,547

2,565,711

CREDITORS
Amounts falling due after more than one
year

7

(1,978,453

)

(1,975,090

)

PROVISIONS FOR LIABILITIES 9 (87,255 ) (87,255 )
NET ASSETS 490,839 503,366

CAPITAL AND RESERVES
Called up share capital 12 12
Fair value reserve 371,982 371,982
Retained earnings 118,845 131,372
490,839 503,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr G J Polycarpou - Director


GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

GCP Ventures (Embassy Court) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09625939

Registered office: 143 Leman Street
London
E1 8EY

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are 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.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, 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 date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.


GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand and short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,641,850
NET BOOK VALUE
At 30 November 2023 2,641,850
At 30 November 2022 2,641,850

GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2017 459,237
Cost 2,182,613
2,641,850

The director considers that the market values of the properties as at year-end were as per the values stated in the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 74,116 63,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,828 24,696
Taxation and social security 34,546 32,559
Other creditors 109,243 84,951
160,617 142,206

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,205,003 1,203,657
Other creditors 773,450 771,433
1,978,453 1,975,090

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,205,003 1,203,657

The bank loan is secured by way of fixed and floating charge on company's assets.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 87,255 87,255

GCP VENTURES (EMBASSY COURT) LIMITED (REGISTERED NUMBER: 09625939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 87,255
Balance at 30 November 2023 87,255

10. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £53,619 (£2022: £57,617) receivable from connected companies, all under common directorship. The loans are interest-free and repayable on demand.

Included in other creditors is an amount of £868,475 (2022: £846,992) payable to connected companies, under common directorship or control and £9,686 (2022: £5,089) payable to the director of the company. The loans are interest-free and repayable on demand.