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Company No: 11020461 (England and Wales)

GMD ESTATES LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

GMD ESTATES LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

GMD ESTATES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
GMD ESTATES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 199 99
199 99
Current assets
Debtors 4 405,404 256,277
Cash at bank and in hand 24,749 4,096
430,153 260,373
Creditors: amounts falling due within one year 5 ( 403,505) ( 247,035)
Net current assets 26,648 13,338
Total assets less current liabilities 26,847 13,437
Net assets 26,847 13,437
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 26,747 13,337
Total shareholders' funds 26,847 13,437

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of GMD Estates Ltd (registered number: 11020461) were approved and authorised for issue by the Board of Directors on 17 March 2025. They were signed on its behalf by:

P J Maynard
Director
GMD ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
GMD ESTATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GMD Estates Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 78 Cumnor Road, Boars Hill, Oxford, OX1 5JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 99
Additions 100
0
At 31 July 2024 199
Carrying value at 31 July 2024 199
Carrying value at 31 July 2023 99

4. Debtors

2024 2023
£ £
Other debtors 405,404 256,277

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 100 0
Accruals 1,920 0
Taxation and social security 7,945 3,495
Other creditors 393,540 243,540
403,505 247,035

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
40 A Ordinary shares of £ 1.00 each 40 40
60 B Ordinary shares of £ 1.00 each 60 60
100 100

7. Related party transactions

The company has taken advantage of the exemption under Section 33 to not disclose transactions with wholly owned subsidiaries. There have been no other related party transactions.