REGISTERED NUMBER: 02788882 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GREATER LONDON DEMOLITION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J G Hanley

J P Hanley

REGISTERED OFFICE:

Jute Lane

Brimsdown

Enfield

Middlesex

EN3 7PJ

REGISTERED NUMBER:

02788882 (England and Wales)

ACCOUNTANTS:

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

FIXED ASSETS

Tangible assets

4

2,470,935

2,407,388

Investment property

5

1,685,489

1,622,929

4,156,424

4,030,317

CURRENT ASSETS

Debtors

6

1,894,204

2,164,928

Cash at bank and in hand

321,235

300,728

2,215,439

2,465,656

CREDITORS

Amounts falling due within one year

7

2,401,460

2,839,132

NET CURRENT LIABILITIES

(186,021

)

(373,476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,970,403

3,656,841

CREDITORS

Amounts falling due after more than one year

8

(204,469

)

(190,131

)

PROVISIONS FOR LIABILITIES

(300,623

)

(530,555

)

NET ASSETS

3,465,311

2,936,155

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

46,920

-

Retained earnings

3,418,291

2,936,055

3,465,311

2,936,155

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 25th September 2025 and were signed on its behalf by:

J G Hanley - Director

1.	STATUTORY INFORMATION

Greater London Demolition Limited is a private company, limited by shares, registered in England & Wales, registration number 02788882. The registered office address is Jute Lane, Brimsdown, Enfield, Middlesex, EN2 7PJ.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Freehold land and buildings are shown at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from fair value at the reporting date.

Revaluation surpluses are credited to the revaluation reserve, except to the extent that an increase reverses a revaluation decrease of the same asset previously recognized in profit or loss. Revaluation losses are charged to the revaluation reserve to the extent of any previous gain, with any excess charged to profit or loss.

On subsequent disposal of a revalued asset, any revaluation reserve relating to that asset is transferred directly to retained earnings.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern

At the balance sheet date, the company had net current liabilities of £199,021 (2023: £373,476). The directors believes that the company, with their continued support, has adequate resources to continue to operate. The directors considers it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the directors was not continued

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2024

1,319,390

1,735,692

3,055,082

Additions

-

371,640

371,640

Disposals

-

(207,965

)

(207,965

)

At 31st December 2024

1,319,390

1,899,367

3,218,757

DEPRECIATION

At 1st January 2024

-

647,694

647,694

Charge for year

-

245,719

245,719

Eliminated on disposal

-

(145,591

)

(145,591

)

At 31st December 2024

-

747,822

747,822

NET BOOK VALUE

At 31st December 2024

1,319,390

1,151,545

2,470,935

At 31st December 2023

1,319,390

1,087,998

2,407,388

The freehold properties were valued at the balance sheet date by the directors.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st January 2024

1,395,430

Additions

368,010

Disposals

(47,725

)

At 31st December 2024

1,715,715

DEPRECIATION

At 1st January 2024

438,144

Charge for year

225,857

Eliminated on disposal

(19,056

)

At 31st December 2024

644,945

NET BOOK VALUE

At 31st December 2024

1,070,770

At 31st December 2023

957,286

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

1,622,929

Revaluations

62,560

At 31st December 2024

1,685,489

NET BOOK VALUE

At 31st December 2024

1,685,489

At 31st December 2023

1,622,929

Fair value at 31st December 2024 is represented by:

£

Valuation in 2024

62,560

Cost

1,622,929

1,685,489

The investment properties were revalued by the directors at the balance sheet date on a fair value basis.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

428,515

580,448

Other debtors

1,465,689

1,584,480

1,894,204

2,164,928

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,138

10,648

Hire purchase contracts

330,469

482,607

Trade creditors

1,212,600

278,466

Taxation and social security

549,761

549,682

Other creditors

298,492

1,517,729

2,401,460

2,839,132

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,674

14,302

Hire purchase contracts

199,795

175,829

204,469

190,131

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

530,264

658,436

Hire purchase loans are secured over the asset to which they relate.

10.

RESERVES

Fair

value

reserve

£

Transfer between reserves

46,920

At 31st December 2024

46,920