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REGISTERED NUMBER: 10424553 (England and Wales)












GMD PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 MARCH 2024






GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GMD PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 MARCH 2024







DIRECTORS: Mrs G D Dennison
M Dennison





REGISTERED OFFICE: Oaklands
Douglas Avenue
Stalmine
Poulton Le Fylde
Lancashire
FY6 0NB





REGISTERED NUMBER: 10424553 (England and Wales)





ACCOUNTANTS: Rushtons
Chartered Accountants
Avroe House
Avroe Crescent
Blackpool Business Park
Blackpool
Lancashire
FY4 2DP

GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)

ABRIDGED BALANCE SHEET
29 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,425 2,524
Investment property 5 508,374 508,374
510,799 510,898

CURRENT ASSETS
Debtors 908 783
Cash at bank 2,651 4,978
3,559 5,761
CREDITORS
Amounts falling due within one year 166,159 161,925
NET CURRENT LIABILITIES (162,600 ) (156,164 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,199

354,734

CREDITORS
Amounts falling due after more than
one year

6

358,280

358,280
NET LIABILITIES (10,081 ) (3,546 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (10,091 ) (3,556 )
SHAREHOLDERS' FUNDS (10,081 ) (3,546 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 March 2024 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.

GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)

ABRIDGED BALANCE SHEET - continued
29 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





Mrs G D Dennison - Director


GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

1. STATUTORY INFORMATION

GMD Property 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.

The financial statements have been prepared in Sterling, which is the functional currency of the company. All monetary values have been rounded to the nearest £.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 March 2023 12,030
Additions 764
At 29 March 2024 12,794
DEPRECIATION
At 30 March 2023 9,506
Charge for year 863
At 29 March 2024 10,369
NET BOOK VALUE
At 29 March 2024 2,425
At 29 March 2023 2,524

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 March 2023
and 29 March 2024 508,374
NET BOOK VALUE
At 29 March 2024 508,374
At 29 March 2023 508,374

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 358,280 358,280

GMD PROPERTY LTD (REGISTERED NUMBER: 10424553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 MARCH 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 358,280 358,280

The company's bank loans are secured by legal mortgages over the company's investment properties.