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Company Registration No. 06052466 (England and Wales)
GLD Projects Limited Unaudited accounts for the year ended 30 November 2024
GLD Projects Limited Unaudited accounts Contents
Page
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GLD Projects Limited Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,222,137 
4,100,739 
Investments
100 
100 
4,222,237 
4,100,839 
Current assets
Debtors
316,905 
298,633 
Cash at bank and in hand
(14,398)
(11,088)
302,507 
287,545 
Creditors: amounts falling due within one year
(4,148,411)
(3,751,940)
Net current liabilities
(3,845,904)
(3,464,395)
Total assets less current liabilities
376,333 
636,444 
Creditors: amounts falling due after more than one year
(47,541)
(47,541)
Net assets
328,792 
588,903 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
1,034,051 
1,034,051 
Profit and loss account
(705,359)
(445,248)
Shareholders' funds
328,792 
588,903 
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 August 2025 and were signed on its behalf by
T H Sarfraz Director Company Registration No. 06052466
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GLD Projects Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
GLD Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 06052466. The registered office is Apt. 9, 204 Regents Park Road, London, NW1 8AE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 December 2023
4,075,000 
2,102 
195,905 
4,273,007 
Additions
- 
- 
193,378 
193,378 
At 30 November 2024
4,075,000 
2,102 
389,283 
4,466,385 
Depreciation
At 1 December 2023
- 
- 
172,268 
172,268 
Charge for the year
- 
- 
71,980 
71,980 
At 30 November 2024
- 
- 
244,248 
244,248 
Net book value
At 30 November 2024
4,075,000 
2,102 
145,035 
4,222,137 
At 30 November 2023
4,075,000 
2,102 
23,637 
4,100,739 
Valuation reports were commissioned from two firms of independent valuers in March and May/June 2017 and the gross valuation of the company properties was £4,075,000. The director is of the opinion that this valuation was a fair valuation at 30th November 2024.
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GLD Projects Limited Notes to the Accounts for the year ended 30 November 2024
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
- 
195,905 
5
Investments
Other investments 
£ 
Valuation at 1 December 2023
100 
Valuation at 30 November 2024
100 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
17,477 
3,374 
Other debtors
299,428 
295,259 
316,905 
298,633 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,020,390 
2,020,390 
Obligations under finance leases and hire purchase contracts
- 
151,847 
Trade creditors
1,498,555 
934,709 
Taxes and social security
44,340 
42,806 
Other creditors
6,489 
6,490 
Loans from directors
578,387 
595,385 
Accruals
250 
313 
4,148,411 
3,751,940 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
47,541 
47,541 
The bank loans are secured by a fixed and floating charge over all of the company properties and undertakings.
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 November 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
17,804 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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