IRIS Accounts Production v25.1.4.42 06233284 Board of Directors Board of Directors 1.11.23 31.10.24 31.10.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062332842023-10-31062332842024-10-31062332842023-11-012024-10-31062332842022-10-31062332842022-11-012023-10-31062332842023-10-3106233284ns15:EnglandWales2023-11-012024-10-3106233284ns14:PoundSterling2023-11-012024-10-3106233284ns10:Director12023-11-012024-10-3106233284ns10:Director22023-11-012024-10-3106233284ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3106233284ns10:SmallEntities2023-11-012024-10-3106233284ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3106233284ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3106233284ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3106233284ns10:AbridgedAccounts2023-11-012024-10-3106233284ns10:Director32023-11-012024-10-3106233284ns10:CompanySecretary12023-11-012024-10-3106233284ns10:RegisteredOffice2023-11-012024-10-3106233284ns5:CurrentFinancialInstruments2024-10-3106233284ns5:CurrentFinancialInstruments2023-10-3106233284ns5:Non-currentFinancialInstruments2024-10-3106233284ns5:Non-currentFinancialInstruments2023-10-3106233284ns5:ShareCapital2024-10-3106233284ns5:ShareCapital2023-10-3106233284ns5:FurtherSpecificReserve3ComponentTotalEquity2024-10-3106233284ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3106233284ns5:RetainedEarningsAccumulatedLosses2024-10-3106233284ns5:RetainedEarningsAccumulatedLosses2023-10-3106233284ns5:PlantMachinery2023-11-012024-10-3106233284ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-10-3106233284ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-10-3106233284ns5:Secured2024-10-3106233284ns5:Secured2023-10-3106233284ns5:RetainedEarningsAccumulatedLosses2023-10-3106233284ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3106233284ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-31
REGISTERED NUMBER: 06233284 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

GM ESTATES 2 LIMITED

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GM ESTATES 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: M Eleftheriou
E Eleftheriou
Ms E Aiken





SECRETARY: A K Singh





REGISTERED OFFICE: 2nd Floor Muskers Building
1 Stanley Street
Liverpool
Merseyside
L1 6AA





REGISTERED NUMBER: 06233284 (England and Wales)





ACCOUNTANTS: Mattocks Grindley
18 Mulberry Avenue
Turnstone Park
Widnes
Cheshire
WA8 0WN

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

ABRIDGED BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 500 500
Investment property 6 2,783,475 2,783,475
2,783,975 2,783,975

CURRENT ASSETS
Debtors 26,489 1,018
Cash at bank 468,369 73,693
494,858 74,711
CREDITORS
Amounts falling due within one year 57,938 43,599
NET CURRENT ASSETS 436,920 31,112
TOTAL ASSETS LESS CURRENT LIABILITIES 3,220,895 2,815,087

CREDITORS
Amounts falling due after more than one
year

7

(708,969

)

(816,874

)

PROVISIONS FOR LIABILITIES (116,159 ) (116,159 )
NET ASSETS 2,395,767 1,882,054

CAPITAL AND RESERVES
Called up share capital 600 600
Fair value reserve 9 655,422 655,422
Retained earnings 9 1,739,745 1,226,032
SHAREHOLDERS' FUNDS 2,395,767 1,882,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

ABRIDGED BALANCE SHEET - continued
31 OCTOBER 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 July 2025 and were signed on its behalf by:




M Eleftheriou - Director



E Eleftheriou - Director


GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

GM Estates 2 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.

Preparation of consolidated financial statements
The financial statements contain information about GM Estates 2 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the total amounts of rents receivable by the company.

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 - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 47,500
DEPRECIATION
At 1 November 2023
and 31 October 2024 47,500
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 November 2023
and 31 October 2024 500
NET BOOK VALUE
At 31 October 2024 500
At 31 October 2023 500

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 2,783,475
NET BOOK VALUE
At 31 October 2024 2,783,475
At 31 October 2023 2,783,475

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2018 368,493
Valuation in 2021 180,000
Valuation in 2023 223,088
Cost 2,011,894
2,783,475

The investment properties were valued on an open market value basis by the directors on 31 October 2024 at £2,783,476.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.10.24 31.10.23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 157,605 175,110

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 157,605 175,110

Bank loans are secured by a fixed charge over the property to which each loan relates.

GM ESTATES 2 LIMITED (REGISTERED NUMBER: 06233284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 November 2023 1,226,032 655,422 1,881,454
Profit for the year 513,713 513,713
At 31 October 2024 1,739,745 655,422 2,395,167