Limited Liability Partnership registration number OC312201 (England and Wales)
G M DEVELOPMENTS (LONDON) LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
G M DEVELOPMENTS (LONDON) LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr G P McHugh
Mrs G M McHugh
LLP registration number
OC312201
Registered office
223 Dawes Road
London
SW6 7RD
Accountants
Begbies
9 Bonhill Street
London
EC2A 4DJ
Business address
223 Dawes Road
London
SW6 7RD
G M DEVELOPMENTS (LONDON) LLP
CONTENTS
Page
Members' report
1
Members' responsibilities statement
2
Accountants' report
3
Income statement
4
Statement of financial position
5
Reconciliation of members' interests
6 - 7
Notes to the financial statements
8 - 9
G M DEVELOPMENTS (LONDON) LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The members present their annual report and financial statements for the year ended 31 March 2025.

Members' drawings, contributions and repayments

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the l imited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G P McHugh
Mrs G M McHugh
Small LLPs exemption

This report has been prepared in accordance with the special provisions relating to small LLP s within Part 15 of the Companies Act 2006.

Approved by the members on 14 October 2025 and signed on behalf by:
14 October 2025
Mr G P McHugh
Designated Member
G M DEVELOPMENTS (LONDON) LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

G M DEVELOPMENTS (LONDON) LLP
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF G M DEVELOPMENTS (LONDON) LLP FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G M Developments (London) LLP for the year ended 31 March 2025 which comprise the income statement, the statement of financial position, the reconciliation of members' interests and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of G M Developments (London) LLP, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of G M Developments (London) LLP and state those matters that we have agreed to state to the Board of Directors of G M Developments (London) LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G M Developments (London) LLP and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that G M Developments (London) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G M Developments (London) LLP. You consider that G M Developments (London) LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G M Developments (London) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Begbies
Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
14 October 2025
G M DEVELOPMENTS (LONDON) LLP
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2025
2024
£
£
Turnover
230,000
-
Profit for the financial year before members' remuneration and profit shares
230,000
-
0
Members' remuneration charged as an expense
(230,000)
-
Result for the financial year available for discretionary division among members
-
-

The income statement has been prepared on the basis that all operations are continuing operations.

G M DEVELOPMENTS (LONDON) LLP
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 5 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
230,000
-
Net current assets and net assets attributable to members
230,000
-
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
230,000
-

For the financial year ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 14 October 2025 and are signed on their behalf by:
14 October 2025
Mr G P McHugh
Designated member
Limited Liability Partnership registration number OC312201 (England and Wales)
G M DEVELOPMENTS (LONDON) LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
Current financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2025
£
£
£
Members' interests at 1 April 2024
-
-
-
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
230,000
230,000
230,000
Result for the financial year available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
230,000
230,000
230,000
Members' interests at 31 March 2025
230,000
230,000
230,000
G M DEVELOPMENTS (LONDON) LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
Prior financial year
TOTAL
MEMBERS'
INTERESTS
Total
2024
£
Members' interests at 1 April 2023
-
Result for the financial year available for discretionary division among members
-
Members' interests after loss for the year
-
Members' interests at 31 March 2024
-
G M DEVELOPMENTS (LONDON) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
1
Accounting policies
Limited liability partnership information

G M Developments (London) LLP is a limited liability partnership incorporated in England and Wales. The registered office is 223 Dawes Road, London, SW6 7RD.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the total amount receivable for services provided, excluding value added tax.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

1.4
Cash at bank and in hand

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

Basic financial Liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

G M DEVELOPMENTS (LONDON) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
-
0
-
0
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
230,000
-
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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