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REGISTERED NUMBER: 13019836 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

G&C PROPERTY DEVELOPMENTS LTD

G&C PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 13019836)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


G&C PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 13019836)

ABRIDGED BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100
Investment property 5 643,560 558,039
643,660 558,139

CURRENT ASSETS
Cash at bank 50,875 90,743

CREDITORS
Amounts falling due within one year 189,550 132,303
NET CURRENT LIABILITIES (138,675 ) (41,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

504,985

516,579

CREDITORS
Amounts falling due after more than one
year

6

384,283

384,283
NET ASSETS 120,702 132,296

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 120,602 132,196
120,702 132,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

G&C PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 13019836)

ABRIDGED BALANCE SHEET - continued
31 May 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 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 December 2024 and were signed on its behalf by:





G Kerr - Director


G&C PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 13019836)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

G&C Property Developments Ltd 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: 13019836

Registered office: Oceana House, First Floor,
39-49 Commercial Road,
Southampton
Hampshire
SO15 1GA

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 June 2023
and 31 May 2024 100
NET BOOK VALUE
At 31 May 2024 100
At 31 May 2023 100

G&C PROPERTY DEVELOPMENTS LTD (REGISTERED NUMBER: 13019836)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 558,039
Additions 85,521
At 31 May 2024 643,560
NET BOOK VALUE
At 31 May 2024 643,560
At 31 May 2023 558,039

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.5.24 31.5.23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 384,283 384,283

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 439,165 384,283

The mortgage lenders hold charges over the investment properties covered by their respective loans.

8. ULTIMATE CONTROLLING PARTY

The company is wholly owned by M & K Group Holdings Ltd, which is wholly owned and controlled by the directors of both companies.