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
GLD Projects Limited
Statement of financial position
as at 30 November 2024
Tangible assets
4,222,137
4,100,739
Cash at bank and in hand
(14,398)
(11,088)
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
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
GLD Projects Limited
Notes to the Accounts
for the year ended 30 November 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
At 1 December 2023
-
-
172,268
172,268
Charge for the year
-
-
71,980
71,980
At 30 November 2024
-
-
244,248
244,248
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.
GLD Projects Limited
Notes to the Accounts
for the year ended 30 November 2024
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
Amounts falling due within one year
Other debtors
299,428
295,259
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
8
Creditors: amounts falling due after more than one year
2024
2023
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).