IRIS Accounts Production v24.3.0.553 05653073 director 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056530732023-06-30056530732024-06-30056530732023-07-012024-06-30056530732022-06-30056530732022-07-012023-06-30056530732023-06-3005653073ns15:EnglandWales2023-07-012024-06-3005653073ns14:PoundSterling2023-07-012024-06-3005653073ns10:Director12023-07-012024-06-3005653073ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005653073ns10:SmallEntities2023-07-012024-06-3005653073ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005653073ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005653073ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005653073ns10:FullAccounts2023-07-012024-06-3005653073ns10:OrdinaryShareClass12023-07-012024-06-3005653073ns10:RegisteredOffice2023-07-012024-06-3005653073ns5:CurrentFinancialInstruments2024-06-3005653073ns5:CurrentFinancialInstruments2023-06-3005653073ns5:Non-currentFinancialInstruments2024-06-3005653073ns5:Non-currentFinancialInstruments2023-06-3005653073ns5:ShareCapital2024-06-3005653073ns5:ShareCapital2023-06-3005653073ns5:RetainedEarningsAccumulatedLosses2024-06-3005653073ns5:RetainedEarningsAccumulatedLosses2023-06-3005653073ns5:MotorVehicles2023-07-012024-06-3005653073ns5:MotorVehicles2023-06-3005653073ns5:MotorVehicles2024-06-3005653073ns5:MotorVehicles2023-06-3005653073ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3005653073ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3005653073ns10:OrdinaryShareClass12024-06-30
REGISTERED NUMBER: 05653073 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

GREAT MINDS PROPERTY GROUP LIMITED

GREAT MINDS PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05653073)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GREAT MINDS PROPERTY GROUP LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







Director: Mr D Armstrong





Registered office: Hamill House
112-116 Chorley New Road
Bolton
Lancashire
BL1 4DH





Registered number: 05653073 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

GREAT MINDS PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05653073)

Balance Sheet
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,581 67,346
Investment property 5 1,119,852 820,741
1,178,433 888,087

CURRENT ASSETS
Debtors 6 70,170 70,126
Cash at bank 204,220 30,925
274,390 101,051
CREDITORS
Amounts falling due within one year 7 716,516 477,360
NET CURRENT LIABILITIES (442,126 ) (376,309 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,307

511,778

CREDITORS
Amounts falling due after more than one
year

8

86,073

-
NET ASSETS 650,234 511,778

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 650,233 511,777
SHAREHOLDERS' FUNDS 650,234 511,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2024 and were signed by:





Mr D Armstrong - Director


GREAT MINDS PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05653073)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Great Minds Property Group 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 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.
Motor vehicles - 15% on reducing balance

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 Statement of Income and Retained Earnings, 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 1 (2023 - 2 ) .

GREAT MINDS PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05653073)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 July 2023 79,231
Additions 1,573
At 30 June 2024 80,804
DEPRECIATION
At 1 July 2023 11,885
Charge for year 10,338
At 30 June 2024 22,223
NET BOOK VALUE
At 30 June 2024 58,581
At 30 June 2023 67,346

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 820,741
Additions 299,111
At 30 June 2024 1,119,852
NET BOOK VALUE
At 30 June 2024 1,119,852
At 30 June 2023 820,741

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 16,396 -
Amounts owed by associates 31,302 15,000
Other debtors 22,472 55,126
70,170 70,126

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 42,618 -
Trade creditors 50 94
Amounts owed to associates 338,599 389,008
Taxation and social security 102,619 31,258
Other creditors 232,630 57,000
716,516 477,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 86,073 -

GREAT MINDS PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05653073)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary £1 1 1

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Armstrong Properties (Northwest) Ltd.
During the period Mr M L Armstrong and Mr D Armstrong were directors of this company.
As at 30 June 2024 the amount owed to Armstrong Properties (Northwest) Ltd, was £42,420 (2023: £).
42,420

API (NW) Limited
During the year Mr M L Armstrong and Mr D Armstrong were directors of this company .
As at 30 June 2024 the amount owed to API (NW) Limited, was £74,870 (2023: £24,870).

The Energy Team (NW) Limited.
During the year Mr D Armstrong was a director of this company.
As at 30 June 2024 the amount owed to The Energy Team (NW) Limited, was £0 (2023: £65,000).

Climate Change Professionals Limited.
During the year Mr D Armstrong was a director of this company.
As at 30 June 2024 the amount owed by Climate Change Professionals Limited was £0 (2023: £15,000).

Acresfield Developments Limited
During the year Mr D Armstrong was a director of this company.
As at 30 June 2024 the amount owed to Acresfield Developments Limited was £263,729 (2023: £256,718)

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Armstrong.