GH GROUP UK (2018) LTD Filleted accounts for Companies House (small and micro)

GH GROUP UK (2018) LTD Filleted accounts for Companies House (small and micro)

GH GROUP UK (2018) LTD - Company Information

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COMPANY REGISTRATION NUMBER: 04782525
GH GROUP UK (2018) LTD
Filleted Unaudited Financial Statements
30 November 2018
GH GROUP UK (2018) LTD
Statement of Financial Position
30 November 2018
2018
2017
Note
£
£
£
Current assets
Stocks
–
572,184
Cash at bank and in hand
914,437
59,723
---------
---------
914,437
631,907
Creditors: amounts falling due within one year
4
3,845,963
3,603,363
------------
------------
Net current liabilities
2,931,526
2,971,456
------------
------------
Total assets less current liabilities
( 2,931,526)
( 2,971,456)
------------
------------
Net liabilities
( 2,931,526)
( 2,971,456)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,931,626)
( 2,971,556)
------------
------------
Shareholders deficit
( 2,931,526)
( 2,971,456)
------------
------------
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 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 statement of income and retained earnings has not been delivered.
For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 January 2019 , and are signed on behalf of the board by:
Mr G Houghton
Director
Company registration number: 04782525
GH GROUP UK (2018) LTD
Notes to the Financial Statements
Year ended 30 November 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Houghton House, New Road, Team Valley Trading Estate, Tyne and Wear, NE11 0JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities 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.
Revenue recognition
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Lease premium
-
10% straight line
Fixture and fittings
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
–
180,994
Other creditors
3,845,963
3,422,369
------------
------------
3,845,963
3,603,363
------------
------------