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COMPANY REGISTRATION NUMBER: 03887601
Greater London Corporation Ltd
Unaudited Financial Statements
30 September 2024
Greater London Corporation Ltd
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Director's report
2
Accountants report to the director on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
6
Greater London Corporation Ltd
Officers and Professional Advisers
Director
J Bleier
Company secretary
N Bleier
Registered office
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Accountants
Haffner Hoff Ltd
Accountants
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Bankers
Barclays Bank Plc
Business Banking
Broadgate 2
London Corporate Banking
Greater London Corporation Ltd
Director's Report
Year ended 30 September 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 September 2024 .
Director
The director who served the company during the year was as follows:
J Bleier
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 March 2025 and signed on behalf of the board by:
J Bleier
N Bleier
Director
Company Secretary
Registered office:
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Greater London Corporation Ltd
Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Greater London Corporation Ltd
Year ended 30 September 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Haffner Hoff Ltd Accountants
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
24 March 2025
Greater London Corporation Ltd
Statement of Income and Retained Earnings
Year ended 30 September 2024
2024
2023
Note
£
£
Administrative expenses
82
77
----
----
Operating loss
( 82)
( 77)
Other interest receivable and similar income
4
215
125
----
----
Profit before taxation
133
48
Tax on profit
----
----
Profit for the financial year and total comprehensive income
133
48
----
----
Retained losses at the start of the year
( 2,187)
( 2,235)
-------
-------
Retained losses at the end of the year
( 2,054)
( 2,187)
-------
-------
All the activities of the company are from continuing operations.
Greater London Corporation Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
2
2
Current assets
Debtors
6
1
1
Cash at bank and in hand
4,332
4,199
-------
-------
4,333
4,200
Creditors: amounts falling due within one year
7
6,387
6,387
-------
-------
Net current liabilities
2,054
2,187
-------
-------
Total assets less current liabilities
( 2,052)
( 2,185)
-------
-------
Net liabilities
( 2,052)
( 2,185)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 2,054)
( 2,187)
-------
-------
Shareholders deficit
( 2,052)
( 2,185)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
J Bleier
Director
Company registration number: 03887601
Greater London Corporation Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Edge Business Centre, Humber Road, London, NW2 6EW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Other interest receivable and similar income
2024
2023
£
£
Interest on cash and cash equivalents
215
125
----
----
5. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
2
----
Impairment
At 1 October 2023 and 30 September 2024
----
Carrying amount
At 30 September 2024
2
----
At 30 September 2023
2
----
Greater London Corporation Limited owns the entire issued share capital of 1 ordinary share of £1 each in Charlton Nominees Limited, a trading subsidiary incorporated in the United Kingdom.
Greater London Corporation Limited owns the entire issued share capital of 1 ordinary share of £1 each in Clarence Leeds Limited, a trading subsidiary incorporated in the United Kingdom.
6. Debtors
2024
2023
£
£
Other debtors
1
1
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
6,387
6,387
-------
-------
8. Related party transactions
The company was under the control of The Blair Trust Fund, a charitable company registered in the UK, throughout the current and previous year. The Blair Trust Fund is the only shareholder. Greater London Corporation Limited borrowed £5,000 in a previous period on an interest free basis from Clarence Leeds Limited. This was also the balance at the year end.