Company registration number:
10029307
GPMP Investments Limited
Unaudited filleted financial statements
31 March 2020
GPMP Investments Limited
Contents
Directors and other information
Balance sheet
Notes to the financial statements
GPMP Investments Limited
Directors and other information
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Director
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Mr G W Phillips
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Secretary
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Mrs MJ Phillips
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Company number
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10029307
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Registered office
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Shropshire House
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179 Tottenham Court Road
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London
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W1T 7NZ
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Business address
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21 Hanover Square
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London
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W1S 1JW
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GPMP Investments Limited
Balance sheet
31 March 2020
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2020
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2019
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Note
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£
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£
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£
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£
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Fixed assets
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Investments
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4
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4,880,688
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5,055,364
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_________
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_________
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4,880,688
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5,055,364
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Current assets
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Cash at bank and in hand
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825,655
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731,379
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_________
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_________
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825,655
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731,379
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Creditors: amounts falling due
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within one year
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5
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(
7,236)
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(
17,664)
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_________
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_________
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Net current assets
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818,419
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713,715
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_________
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_________
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Total assets less current liabilities
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5,699,107
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5,769,079
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_________
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_________
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Net assets
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5,699,107
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5,769,079
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_________
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_________
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Capital and reserves
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Called up share capital
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33
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33
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Profit and loss account
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5,699,074
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5,769,046
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_________
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_________
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Shareholders funds
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5,699,107
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5,769,079
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_________
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_________
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For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
05 November 2020
, and are signed on behalf of the board by:
Mr G W Phillips
Director
Company registration number:
10029307
GPMP Investments Limited
Notes to the financial statements
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England & Wales in the UK. The address of the registered office is Shropshire House, 179 Tottenham Court Road, London, W1T 7NZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS Section 102 1A, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.All other such investments are subsequently measured at cost less impairment.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
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Shares in group undertakings and participating interests
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Total
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£
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£
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Cost
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At 1 April 2019
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5,055,363
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5,055,363
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Additions
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68,583
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68,583
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Disposals
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(
100,000)
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(
100,000)
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Fair value adjustment
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(143,258)
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(143,258)
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_________
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_________
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At 31 March 2020
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4,880,688
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4,880,688
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_________
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Impairment
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At 1 April 2019 and 31 March 2020
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-
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-
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_________
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_________
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Carrying amount
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At 31 March 2020
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4,880,688
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4,880,688
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_________
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_________
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At 31 March 2019
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5,055,363
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5,055,363
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_________
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_________
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5.
Creditors: amounts falling due within one year
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2020
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2019
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£
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£
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Corporation tax
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6,143
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16,571
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Other creditors
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1,093
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1,093
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_________
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_________
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7,236
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17,664
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_________
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_________
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