Registration number: 10555269

G.M. Rental Properties Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

G.M. Rental Properties Ltd

(Registration number: 10555269)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	208	522
Investment property	5	1,224,900	1,319,672
		1,225,108	1,320,194
Current assets
Debtors	6	6,477	2,798
Cash at bank and in hand		4,473	4,978
		10,950	7,776
Creditors: Amounts falling due within one year	7	(616,770)	(585,715)
Net current liabilities		(605,820)	(577,939)
Total assets less current liabilities		619,288	742,255
Creditors: Amounts falling due after more than one year	7	(719,806)	(717,841)
Provisions for liabilities		(1,048)	(8,405)
Net (liabilities)/assets		(101,566)	16,009
Capital and reserves
Called up share capital	8	100	100
Other reserves		68,627	52,217
Profit and loss account		(170,293)	(36,308)
Shareholders' (deficit)/funds		(101,566)	16,009

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2025
 

 

Mr G McConnell
Director

G.M. Rental Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Swan Delph
Aughton
Ormskirk
Lancashire
L39 5QG

2	Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern
Notwithstanding the deficit of shareholders' funds, the director considers that the company will recover this deficit in future years and therefore it is appropriate for the accounts to be prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

G.M. Rental Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	25% straight line

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Debtors
Debtors are amounts due from tenants for rent receivable and other associated letting fees in the ordinary course of the business.

Debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2024 - 0).

G.M. Rental Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4	Tangible assets

	Plant and equipment  £	Total £
Cost
At 1 February 2024	2,683	2,683
At 31 January 2025	2,683	2,683
Depreciation
At 1 February 2024	2,161	2,161
Charge for the year	314	314
At 31 January 2025	2,475	2,475
Net book value
At 31 January 2025	208	208
At 31 January 2024	522	522

5	Investment property

	2025 £	2024 £
At 1 February	1,319,672	1,295,277
Fair value adjustments	(94,772)	24,395
At 31 January	1,224,900	1,319,672

Two of the properties were valued professionally by VSurv Chartered Surveyors during the year. The director does not believe there is any material change in these valuations at the balance sheet date.

The remaining properties were valued by the director at their market value using current market data for similar properties in the same areas.

6

Debtors

	2025 £	2024 £
Trade debtors	2,202	-
Prepayments	4,275	2,798
	6,477	2,798

G.M. Rental Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	-	1,176
Other creditors	2,180	2,250
Other loans	611,824	579,763
Accruals	2,766	2,526
	616,770	585,715