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REGISTERED NUMBER: 05835105 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

GM Properties (London) Limited

GM Properties (London) Limited (Registered number: 05835105)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GM Properties (London) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mrs A Sultana





REGISTERED OFFICE: 21 Hillersdon Avenue
Edgware
Middlesex
HA8 7SG





REGISTERED NUMBER: 05835105 (England and Wales)






GM Properties (London) Limited (Registered number: 05835105)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 950,000 1,245,074

CURRENT ASSETS
Debtors 5 94,327 800
Cash at bank - 523
94,327 1,323
CREDITORS
Amounts falling due within one year 6 285,503 275,622
NET CURRENT LIABILITIES (191,176 ) (274,299 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

758,824

970,775

CREDITORS
Amounts falling due after more than one
year

7

(842,553

)

(1,059,299

)

PROVISIONS FOR LIABILITIES (36,000 ) -
NET LIABILITIES (119,729 ) (88,524 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Undistributable Reserve 10 144,000 6,266
Retained earnings 10 (263,829 ) (94,890 )
SHAREHOLDERS' FUNDS (119,729 ) (88,524 )

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 director acknowledges her 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 director and authorised for issue on 10 July 2025 and were signed by:





Mrs A Sultana - Director


GM Properties (London) Limited (Registered number: 05835105)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

GM Properties (London) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company sustained a loss during the year and had net liabilities as at 30th June 2024. The sole director has confirmed that with the retention of the loans made by the Estate of the late Assad Ghafoor, she will continue to support the company for the foreseeable future and on this basis she considers it appropriate to prepare these accounts on a going concern basis.

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,245,074
Disposals (475,074 )
Revaluations 180,000
At 30 June 2024 950,000
NET BOOK VALUE
At 30 June 2024 950,000
At 30 June 2023 1,245,074

GM Properties (London) Limited (Registered number: 05835105)

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

4. INVESTMENT PROPERTY - continued

The investment properties were valued at £950,000 (Original Cost - £909,214) on an informal basis on 28th March 2025 by PMG Property Management Group.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 94,327 800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 177,788 162,988
Trade creditors 21,573 21,573
Other creditors - 5,904
Directors' current accounts 39,391 39,391
Accrued expenses 46,751 45,766
285,503 275,622

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans more 5 yr by instal - 38,958
Bank loans more 5 yrs non-inst - 177,788
Other creditors 842,553 842,553
842,553 1,059,299

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 177,788

Repayable by instalments
Bank loans more 5 yr by instal - 38,958

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 177,788 379,734

The building society loan is secured by a charge over the personal residence of the deceased sole director, Mr Assad Ghafoor. The personal residence now forms part of his estate..

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

GM Properties (London) Limited (Registered number: 05835105)

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

10. RESERVES
Retained Undistributable
earnings Reserve Totals
£    £    £   

At 1 July 2023 (94,890 ) 6,266 (88,624 )
Deficit for the year (31,205 ) (31,205 )
Profit & Loss Account Transfer
to Undistributable Reserve (137,734 ) 137,734 -
At 30 June 2024 (263,829 ) 144,000 (119,829 )

The Undistributable Reserve is stated after deducting provision for deferred tax.