Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10793287 Mr Lee Phelps iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10793287 2023-05-31 10793287 2024-05-31 10793287 2023-06-01 2024-05-31 10793287 frs-core:CurrentFinancialInstruments 2024-05-31 10793287 frs-core:Non-currentFinancialInstruments 2024-05-31 10793287 frs-core:RevaluationReserve 2023-06-01 2024-05-31 10793287 frs-core:RevaluationReserve 2023-05-31 10793287 frs-core:RevaluationReserve 2024-05-31 10793287 frs-core:ShareCapital 2024-05-31 10793287 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10793287 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10793287 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10793287 frs-bus:SmallEntities 2023-06-01 2024-05-31 10793287 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10793287 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10793287 frs-bus:Director1 2023-06-01 2024-05-31 10793287 frs-bus:Director1 2023-05-31 10793287 frs-bus:Director1 2024-05-31 10793287 frs-core:CurrentFinancialInstruments 1 2024-05-31 10793287 frs-countries:EnglandWales 2023-06-01 2024-05-31 10793287 2022-05-31 10793287 2023-05-31 10793287 2022-06-01 2023-05-31 10793287 frs-core:CurrentFinancialInstruments 2023-05-31 10793287 frs-core:Non-currentFinancialInstruments 2023-05-31 10793287 frs-core:RevaluationReserve 2023-05-31 10793287 frs-core:ShareCapital 2023-05-31 10793287 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10793287 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 10793287
GPML Property Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10793287
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 14,799,992 13,023,534
14,799,992 13,023,534
CURRENT ASSETS
Debtors 5 5,121,216 4,409,495
Investments 6 100 100
Cash at bank and in hand 723 21,560
5,122,039 4,431,155
Creditors: Amounts Falling Due Within One Year 7 (1,571,775 ) (12,275,956 )
NET CURRENT ASSETS (LIABILITIES) 3,550,264 (7,844,801 )
TOTAL ASSETS LESS CURRENT LIABILITIES 18,350,256 5,178,733
Creditors: Amounts Falling Due After More Than One Year 8 (18,293,123 ) (4,339,671 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (532,178 ) (337,956 )
NET (LIABILITIES)/ASSETS (475,045 ) 501,106
CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 11 2,128,714 2,206,955
Profit and Loss Account (2,603,760 ) (1,705,850 )
SHAREHOLDERS' FUNDS (475,045) 501,106
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lee Phelps
Director
27/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GPML Property Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10793287 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 13,023,534
Additions 6,224,086
Disposals (4,369,386 )
Revaluations (78,242)
As at 31 May 2024 14,799,992
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost - 13,023,534
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,609 (2,763 )
Other debtors 15,000 15,000
Intercompany account 5,001,409 4,344,149
Director's loan account 102,198 53,109
5,121,216 4,409,495
6. Current Asset Investments
2024 2023
£ £
Other investments, held for sale 100 100
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,992 6,978
Bank loans and overdrafts 5,000 5,000
Other loans - 8,751,861
Other creditors 61,868 189,047
Intercompany accounts 1,497,315 3,319,770
Accruals and deferred income 3,600 3,300
1,571,775 12,275,956
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,113,875 4,339,671
Other loans 3,179,248 -
18,293,123 4,339,671
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
Mr L Phelps £102,198 (2023 - £53,109)
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Lee Phelps 53,109 49,089 - - 102,198
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Revaluation Reserve
£
As at 1 June 2023 2,206,955
Transfer to profit and loss (78,241 )
As at 31 May 2024 2,128,714
12. Related Party Transactions
Included in the other debtors are amounts owed to GPML Property Services Ltd by the following companies under the control of the director Mr L Phelps. No repayment terms have been set and no interest is to be charged;
GPML Saxon Road Ltd - £688 (2023 - £540)
GPML Construction Ltd - £3,196,447 (2023 - £2,461,089)
GPML Poplar Road Ltd - £624 (2023 - £624)
GPML Property Management Ltd - £2,054 (2023 - £394)
GPML 43 High Street Ltd - £684 (2023 - £684)
GPML GPML Ethelbert Crescent - £1,800,564 (2023 - £1,880,470)
GPML Holdings Ltd - £132 (2023 - £132)
GPML Property Holdings Ltd - £36 (2023 - £36)
GPML Harbour Street Ltd - £48 (2023 - £48)
GPML Commercial Projects Ltd - £48 (2023 - £48)
GPML Services Ltd - £84 (2023 - £84)
...CONTINUED
Page 5
Page 6
12. Related Party Transactions - continued
Included in the other Creditors are amounts owed from GPML Property Services Ltd to the following companies under the control of the director Mr L Phelps. No repayment terms have been set and no interest is to be charged;
GPML North Farm Ltd - £818,957 (2023 - £1,878,363)
GPML High Halden Ltd - £678,358 (2023 - £1,441,407)
Page 6