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Registration number: 13371372

GP Property MDX Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

GP Property MDX Ltd

Contents
for the Year Ended 31 May 2024

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

GP Property MDX Ltd

Company Information
for the Year Ended 31 May 2024

Directors

D Pilcher

A Pilcher

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

13371372 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified Accountants
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

GP Property MDX Ltd

(Registration number: 13371372)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,060,838

1,047,343

Current assets

 

Debtors

5

7,621

29,409

Cash at bank and in hand

 

4,448

6,924

 

12,069

36,333

Creditors: Amounts falling due within one year

6

(412,923)

(420,702)

Net current liabilities

 

(400,854)

(384,369)

Total assets less current liabilities

 

659,984

662,974

Creditors: Amounts falling due after more than one year

6

(689,965)

(689,965)

Net liabilities

 

(29,981)

(26,991)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(29,983)

(26,993)

Shareholders' deficit

 

(29,981)

(26,991)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 January 2025 and signed on its behalf by:
 

 

GP Property MDX Ltd

(Registration number: 13371372)
Balance Sheet as at 31 May 2024

.........................................
D Pilcher
Director

 

GP Property MDX Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 9 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received in relation to rental income received from investment properties.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

GP Property MDX Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 June

1,047,343

Additions

13,495

At 31 May

1,060,838

The fair value of investment properties have been arrived at on the basis of a valuation carried out at the year end by the directors. The valuation was made on an open market value basis by reference to market evidence of prices for similar properties.

5

Debtors

Current

2024
£

2023
£

Prepayments

200

-

Other debtors

7,421

29,409

 

7,621

29,409

 

GP Property MDX Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,421

7,421

Accruals and deferred income

4,354

2,173

Other creditors

401,148

411,108

412,923

420,702

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

689,965

689,965


Fixed charges were held over the investment properties of the company by lenders Kensington Mortgage Company Limited and Fleet Mortgages Limited. Each charge contains a negative pledge.

7

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Advances and credits

21,989

18,081

(40,069)

-

 

2023

At 1 June 2022
£

Advances to director
£

At 31 May 2023
£

Advances and credits

7,929

14,060

21,989

 

Summary of transactions with entities with joint control or significant interest


At the year end date the company owed Pro Landscapes MDX Limited £401,148 (£411,108), a company under common control by the directors.