Company registration number 11667494 (England and Wales)
GML (WHETSTONE) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
GML (WHETSTONE) LIMITED
COMPANY INFORMATION
Directors
Mr I Sellars
Mr G P McHugh
Mr A Sellars
Company number
11667494
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 (WHETSTONE) 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 - 7
GML (WHETSTONE) 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 continued to be that of 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 I Sellars
Mr G P McHugh
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 (WHETSTONE) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GML (WHETSTONE) 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 (Whetstone) 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 Board of Directors of GML (Whetstone) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GML (Whetstone) Limited and state those matters that we have agreed to state to the Board of Directors of GML (Whetstone) 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 (Whetstone) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that GML (Whetstone) 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 profit of GML (Whetstone) Limited. You consider that GML (Whetstone) 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 (Whetstone) 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 (WHETSTONE) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
£
£
Turnover
-
1,302,500
Cost of sales
40,882
(1,334,711)
Gross profit/(loss)
40,882
(32,211)
Administrative expenses
(3,394)
(5,494)
Operating profit/(loss)
37,488
(37,705)
Interest receivable and similar income
350
-
0
Profit/(loss) before taxation
37,838
(37,705)
Tax on profit/(loss)
-
0
-
0
Profit/(loss) for the financial year
37,838
(37,705)
GML (WHETSTONE) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
126,674
93,440
Cash at bank and in hand
903
1,459
127,577
94,899
Creditors: amounts falling due within one year
5
(9,240)
(14,400)
Net current assets
118,337
80,499
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
118,336
80,498
Total equity
118,337
80,499

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 I Sellars
Mr G P McHugh
Director
Director
Company registration number 11667494 (England and Wales)
GML (WHETSTONE) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
1
1,718,203
1,718,204
Year ended 31 March 2024:
Loss and total comprehensive income
-
(37,705)
(37,705)
Dividends
-
(1,600,000)
(1,600,000)
Balance at 31 March 2024
1
80,498
80,499
Year ended 31 March 2025:
Profit and total comprehensive income
-
37,838
37,838
Balance at 31 March 2025
1
118,336
118,337
GML (WHETSTONE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
1
Accounting policies
Company information

GML (Whetstone) 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
Turnover

Turnover represents the amount received in respect of sale of properties and is recognised on completion of the transaction.

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.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GML (WHETSTONE) 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
3,444
3,444
Amounts owed by group undertakings
123,230
23,712
Other debtors
-
0
66,284
126,674
93,440
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,240
8,400
Other creditors
3,000
6,000
9,240
14,400
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
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