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REGISTERED NUMBER: 07483190 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

GCMC PROPERTIES LIMITED

GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GCMC PROPERTIES LIMITED

Company Information
For The Year Ended 30 June 2024







DIRECTORS: G F Mahony
Dr C Mahony



REGISTERED OFFICE: 6 Wemyss Gardens
Wollaton
Nottingham
Nottinghamshire
NG8 1BJ



REGISTERED NUMBER: 07483190 (England and Wales)



ACCOUNTANTS: Peach & Co.
Chartered Accountants
Suite 3, Quantum House,
Skyline Court, Third Avenue
Centrum 100
Burton on Trent
Staffordshire
DE14 2BZ



SOLICITORS: Hopkins Solicitors
27 Regent Street
Nottinghamshire
NG1 5BS

GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,114 3,652
Investment property 5 831,200 830,000
835,314 833,652

CURRENT ASSETS
Debtors 6 5,322 840
Cash at bank 9,661 11,437
14,983 12,277
CREDITORS
Amounts falling due within one year 7 39,683 76,588
NET CURRENT LIABILITIES (24,700 ) (64,311 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

810,614

769,341

PROVISIONS FOR LIABILITIES 66,173 66,045
NET ASSETS 744,441 703,296

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 310,209 310,209
Retained earnings 434,132 392,987
SHAREHOLDERS' FUNDS 744,441 703,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 19 March 2025 and were signed on its behalf by:





G F Mahony - Director


GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

GCMC Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises rent received by the company during the year, exclusive of Value Added Tax. Turnover is recognised when the company becomes unconditionally entitled to it under the leasing agreements in force with its tenants and is recognised evenly over the course of each lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

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.

Deferred tax
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 8,530
Additions 1,509
At 30 June 2024 10,039
DEPRECIATION
At 1 July 2023 4,878
Charge for year 1,047
At 30 June 2024 5,925
NET BOOK VALUE
At 30 June 2024 4,114
At 30 June 2023 3,652

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 830,000
Additions 1,200
At 30 June 2024 831,200
NET BOOK VALUE
At 30 June 2024 831,200
At 30 June 2023 830,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 310,209
Cost 520,991
831,200

If the properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 520,991 519,791

The investment properties were valued on an open market basis basis on 30 June 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,322 840

GCMC PROPERTIES LIMITED (REGISTERED NUMBER: 07483190)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 12,675 22,272
Other creditors 27,008 54,316
39,683 76,588

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 310,209

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 June 2024 the company was owed £4,170 by its directors. This sum has been repaid in full since the balance sheet date. At 30 June 2023 the company owed £23,530 to its directors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is G F Mahony.