Registered number
12741253
Global Property Developers Limited
Filleted Accounts
31 July 2024
Global Property Developers Limited
Registered number: 12741253
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 470,261 456,123
Current assets
Debtors 4 1,100 1,100
Cash at bank and in hand 25,863 12,789
26,963 13,889
Creditors: amounts falling due within one year 5 (239,633) (214,460)
Net current liabilities (212,670) (200,571)
Total assets less current liabilities 257,591 255,552
Creditors: amounts falling due after more than one year 6 (126,448) (122,190)
Net assets 131,143 133,362
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 122,190 122,190
Profit and loss account 8,853 11,072
Shareholders' funds 131,143 133,362
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Javed Iqbal
Director
Approved by the board on 21 March 2025
Global Property Developers Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from renting properties.Turnover from the renting properties is recognised in the Profit & Loss Account when it falls due.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 456,123
Additions 14,138
At 31 July 2024 470,261
Depreciation
At 31 July 2024 -
Net book value
At 31 July 2024 470,261
At 31 July 2023 456,123
4 Debtors 2024 2023
£ £
Other debtors 1,100 1,100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 143,093 197,577
Taxation and social security costs 1,713 2,312
Director's account 91,288 12
Other creditors 3,539 14,559
239,633 214,460
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 126,448 122,190
7 Revaluation reserve 2024 2023
£ £
At 1 August 2023 122,190 -
Gain on revaluation of land and buildings - 122,190
At 31 July 2024 122,190 122,190
8 Other information
Global Property Developers Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 - Linton Road
Tyseley
Birmingham
B11 3NZ
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