Company registration number 14789347 (England and Wales)
GML (BUCKINGHAM MEWS) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
GML (BUCKINGHAM MEWS) LIMITED
COMPANY INFORMATION
Directors
Mr G P McHugh
Mr I Sellars
Mr A Sellars
Secretary
Mr G P McHugh
Company number
14789347
Registered office
9 Bonhill Street
London
EC2A 4DJ
Accountants
Begbies
9 Bonhill Street
London
EC2A 4DJ
Business address
223 Dawes Road
London
SW6 7RD
GML (BUCKINGHAM MEWS) LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 8
GML (BUCKINGHAM MEWS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

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

Principal activities

The principal activity of the company is property development.

Directors

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

Mr G P McHugh
Mr I Sellars
Mr A Sellars
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr G P McHugh
Director
9 October 2025
GML (BUCKINGHAM MEWS) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GML (BUCKINGHAM MEWS) LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GML (Buckingham Mews) Limited for the year ended 31 March 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes from the company’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 b oard of d irectors of GML (Buckingham Mews) Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of GML (Buckingham Mews) Limited and state those matters that we have agreed to state to the b oard of d irectors of GML (Buckingham Mews) Limited, 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 GML (Buckingham Mews) Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that GML (Buckingham Mews) Limited 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 loss of GML (Buckingham Mews) Limited. You consider that GML (Buckingham Mews) Limited 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 GML (Buckingham Mews) Limited. 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
9 October 2025
GML (BUCKINGHAM MEWS) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Year
Period
ended
ended
31 March
31 March
2025
2024
Notes
£
£
Turnover
-
-
Administrative expenses
(17,582)
(35,771)
Operating loss
(17,582)
(35,771)
Interest receivable and similar income
7
-
0
Interest payable and similar expenses
(95,233)
(527)
Loss before taxation
(112,808)
(36,298)
Tax on loss
-
0
-
0
Loss for the financial year
(112,808)
(36,298)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

GML (BUCKINGHAM MEWS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
3,880,638
3,204,339
Debtors
4
2,036
13,299
Cash at bank and in hand
4,597
175,677
3,887,271
3,393,315
Creditors: amounts falling due within one year
5
(1,866,376)
(3,229,612)
Net current assets
2,020,895
163,703
Creditors: amounts falling due after more than one year
6
(2,170,000)
(200,000)
Net liabilities
(149,105)
(36,297)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(149,106)
(36,298)
Total equity
(149,105)
(36,297)

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 October 2025 and are signed on its behalf by:
Mr G P McHugh
Mr I Sellars
Director
Director
Company registration number 14789347 (England and Wales)
GML (BUCKINGHAM MEWS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 10 April 2023
-
0
-
0
-
Period ended 31 March 2024:
Loss and total comprehensive income
-
(36,298)
(36,298)
Issue of share capital
7
1
-
1
Balance at 31 March 2024
1
(36,298)
(36,297)
Year ended 31 March 2025:
Loss and total comprehensive income
-
(112,808)
(112,808)
Balance at 31 March 2025
1
(149,106)
(149,105)
GML (BUCKINGHAM MEWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
1
Accounting policies
Company information

GML (Buckingham Mews) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance 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, which is the functional currency of the company. Monetary a mounts in these financial statements are 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
Stocks

Stock and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock and work in progress to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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 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.

1.5
Equity instruments

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

GML (BUCKINGHAM MEWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors 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 monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
-
0
-
0
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
13,059
Other debtors
2,036
240
2,036
13,299
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,995
6,100
Amounts owed to group undertakings
1,849,056
3,218,985
Other creditors
13,325
4,527
1,866,376
3,229,612
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,170,000
200,000

The bank loan is secured by fixed and floating charges on the assets of the company.

GML (BUCKINGHAM MEWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
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