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REGISTERED NUMBER: 09778671 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

GP DEVELOPERS LTD

GP DEVELOPERS LTD (REGISTERED NUMBER: 09778671)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GP DEVELOPERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: G M Sugarman
P L Sugarman





REGISTERED OFFICE: C/o Factotum Group LLP
The Kinetic Centre, Theobald Street,
Borehamwood,
Hertfordshire
WD6 4PJ





REGISTERED NUMBER: 09778671 (England and Wales)





ACCOUNTANTS: Factotum Group LLP
85 Great Portland Street
London
W1W 7LT

GP DEVELOPERS LTD (REGISTERED NUMBER: 09778671)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 37,462 64,954
Investment property 4 520,000 488,425
557,462 553,379

CURRENT ASSETS
Debtors 5 378,631 355,650
Cash at bank 7,198 26,302
385,829 381,952
CREDITORS
Amounts falling due within one year 6 432,094 390,566
NET CURRENT LIABILITIES (46,265 ) (8,614 )
TOTAL ASSETS LESS CURRENT LIABILITIES 511,197 544,765

CREDITORS
Amounts falling due after more than one year 7 508,774 518,022
NET ASSETS 2,423 26,743

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,421 26,741
2,423 26,743

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

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

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 24th June 2025 and were signed on its behalf by:





G M Sugarman - Director


GP DEVELOPERS LTD (REGISTERED NUMBER: 09778671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. 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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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

Investment property
The investment property is measured at fair value in accordance with FRS 102, recorded at cost of acquistion plus attributable costs. The fair value at the year end was determined by the directors, based on market evidence and comparable sales data. The revaluation has resulted in an increase in fair value of £31,575, which has been recognised in the income statement for the year.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GP DEVELOPERS LTD (REGISTERED NUMBER: 09778671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis :

Motor Vehicles - 25% Written Down Value
Equipments - 33.33% SLM

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2. Employees and directors

The average number of employees during the year was 6 (2023 - 5 ) .

3. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1st October 2023
and 30th September 2024 70,598 73,063 143,661
Depreciation
At 1st October 2023 50,608 28,099 78,707
Charge for year 16,251 11,241 27,492
At 30th September 2024 66,859 39,340 106,199
Net book value
At 30th September 2024 3,739 33,723 37,462
At 30th September 2023 19,990 44,964 64,954

4. Investment property
Total
£   
Fair value
At 1st October 2023 488,425
Revaluations 31,575
At 30th September 2024 520,000
Net book value
At 30th September 2024 520,000
At 30th September 2023 488,425

GP DEVELOPERS LTD (REGISTERED NUMBER: 09778671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. Investment property - continued

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2024 31,575
Cost 488,425
520,000

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 14,725
Other debtors 378,631 340,925
378,631 355,650

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 9,240 6,780
Trade creditors 41,127 44,702
Taxation and social security 378,977 327,584
Other creditors 2,750 11,500
432,094 390,566

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 508,774 518,022

8. Other financial commitments

The loan of £145,289 is repayable on 14th June 2044 at a rate of interest of 2.79% for the first 24 months and then 5.93% for 276 months and is secured over the Investment Property. The balance outstanding as at year end is £145,282.

The loan of £29,513 is repayable on 23rd August 2026 at a rate of interest of 2.5% and is an unsecured loan. The balance outstanding as at year end is £22,732.

The loan of £350,000 is repayable 1st December 2032 at a rate of interest of 6.43% and is secured over the Investment Property. The balance outstanding as at year end is £350,000.

9. Related party disclosures

As at the year-end date of 30th September 2024 the balance due from G Sugarman who is the director of the company was £110,174 (2023: £99,541) and is still outstanding.

As at the year-end date of 30th September 2023 the balance due from P Sugarman who is the director of the company was £131,009 (2023: £104,109) and is still outstanding.