Company No: 01578406 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	4	700,000		700,000
		700,000		700,000
Current assets
Debtors	5	567		559
Cash at bank and in hand		548		982
		1,115		1,541
Creditors: amounts falling due within one year	6	( 67,827)		( 68,078)
Net current liabilities		(66,712)		(66,537)
Total assets less current liabilities		633,288		633,463
Creditors: amounts falling due after more than one year	7	( 150,780)		( 164,472)
Net assets		482,508		468,991
Capital and reserves
Called-up share capital	8	100		100
Revaluation reserve		212,430		212,430
Profit and loss account		269,978		256,461
Total shareholder's funds		482,508		468,991

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of GMA Business Limited (registered number: 01578406) were approved and authorised for issue by the Director on 27 October 2026. They were signed on its behalf by:

Mr Panayiotes Nicolas Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GMA Business Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office 102 120 New Cavendish Street, London, W1W 6XX, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rental income and property consultancy fees received during the year.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Taxation for the year comprises current 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 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		2

4. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	700,000
As at 31 January 2026	700,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out on 30 August 2017 by Springer Nicolas a firm of surveyors. The valuation was made on an open market value basis by reference to the rentals receivable under the underlying lease agreement that is in place and the market rent.

The directors, by taking into consideration the market conditions and the fact that the property is leased out under a long term lease agreement, believe that the fair value of the property on 31 January 2026 was not materially different by comparison to the above valuation.

5. Debtors

	2026		2025
	£		£
Other debtors	567		559

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank overdrafts	4,239		6,382
Taxation and social security	2,244		0
Other creditors	61,344		61,696
	67,827		68,078

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	150,780		164,472

On 8 May 2014 Metro Bank PLC created a fixed and floating charge over the investment property of the company being 124 High Street, Bushey, WD23 3DE.

The bank loans of GMA Business Limited of £150,780 (2025: £164,472) are secured by a personal guarantee given by the director and on the fixed and floating assets of the company.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each	100		100