BrightAccountsProduction v1.0.0 v1.0.0 2023-04-28 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the buying and selling of real estate. 28 January 2025 1 NI696751 2024-04-30 NI696751 2023-04-27 NI696751 2023-04-28 2024-04-30 NI696751 uk-bus:PrivateLimitedCompanyLtd 2023-04-28 2024-04-30 NI696751 uk-curr:PoundSterling 2023-04-28 2024-04-30 NI696751 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-28 2024-04-30 NI696751 uk-bus:FullAccounts 2023-04-28 2024-04-30 NI696751 uk-bus:Director1 2023-04-28 2024-04-30 NI696751 uk-bus:RegisteredOffice 2023-04-28 2024-04-30 NI696751 uk-bus:Agent1 2023-04-28 2024-04-30 NI696751 uk-core:ShareCapital 2024-04-30 NI696751 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI696751 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI696751 uk-bus:FRS102 2023-04-28 2024-04-30 NI696751 uk-bus:Audited 2023-04-28 2024-04-30 NI696751 uk-core:CurrentFinancialInstruments 2024-04-30 NI696751 uk-core:WithinOneYear 2024-04-30 NI696751 uk-core:ParentEntities 2023-04-28 2024-04-30 NI696751 2023-04-28 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI696751
 
 
Global Equipment Spares Property Limited
 
Financial Statements
 
for the financial period from 28 April 2023 (date of incorporation) to 30 April 2024
Global Equipment Spares Property Limited
DIRECTOR AND OTHER INFORMATION

 
Director Mr John McClenaghan (Appointed 13 June 2023)
 
 
Company Registration Number NI696751
 
 
Registered Office 16 Mount Charles
Belfast
BT7 1NZ
 
 
Business Address Unit 3 Campsie Industrial Estate
McLean Road
Eglinton
Derry
BT47 3XX
 
 
Independent Auditors Muldoon & Co
Chartered Accountants & Registered Auditors
16 Mount Charles
Belfast
BT7 1NZ



Global Equipment Spares Property Limited
Company Registration Number: NI696751
STATEMENT OF FINANCIAL POSITION
as at 30 April 2024

Apr 24
Notes £
 
Fixed Assets
Tangible assets 8 364,875
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Current Assets
Debtors 9 100
Creditors: amounts falling due within one year 10 (365,825)
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Net Current Liabilities (365,725)
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Total Assets less Current Liabilities (850)
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Capital and Reserves
Called up share capital 100
Retained earnings (950)
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Equity attributable to owners of the company (850)
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
       
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
       
Approved by the Director and authorised for issue on 28 January 2025
       
       
       
________________________________      
Mr John McClenaghan      
Director      
       



Global Equipment Spares Property Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial period from 28 April 2023 (date of incorporation) to 30 April 2024

   
1. General Information
 
Global Equipment Spares Property Limited  is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI696751. The registered office of the company is 16 Mount Charles, Belfast, BT7 1NZ. The principal activity of the company is the buying and selling of real estate. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by Global Equipment Spares Property Limited  in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.
   
4. Period of financial statements
 
The financial statements are for the 12 month 3 days period from 28 April 2023 (date of incorporation) to 30 April 2024.
   
5. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by Muldoon & Co.
The Auditor's Report was signed by Mr Robert Barr (Senior Statutory Auditor) for and on behalf of Muldoon & Co on 28th January 2025.
 
   
6. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
7. Employees
 
The average monthly number of employees, including director, during the financial period was:
 
  Apr 24
  Number
 
Director 1
  ═════════
       
8. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost
At 28 April 2023 - -
Additions 364,875 364,875
  ───────── ─────────
At 30 April 2024 364,875 364,875
  ───────── ─────────
Depreciation
At 28 April 2023 - -
  ───────── ─────────
At 30 April 2024 - -
  ───────── ─────────
Net book value
At 30 April 2024 364,875 364,875
  ═════════ ═════════
     
9. Debtors Apr 24
  £
 
Other debtors 100
  ═════════
     
10. Creditors Apr 24
Amounts falling due within one year £
 
Amounts owed to group undertakings 357,500
Accruals 8,325
  ─────────
  365,825
  ═════════
     
11. Capital commitments
 
The company had no material capital commitments at the financial period-ended 30 April 2024.
   
12. Parent company
 
The company regards Global Equipment Spares Limited as its parent company.
 
   
13. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial period-end.