ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

GINGER GLOBAL (UK) 2021 LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true22021-11-01falseProperty Investment2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12456985 2021-11-01 2023-03-31 12456985 2020-11-01 2021-10-31 12456985 2023-03-31 12456985 2021-10-31 12456985 c:Director1 2021-11-01 2023-03-31 12456985 d:Buildings 2021-11-01 2023-03-31 12456985 d:Buildings 2023-03-31 12456985 d:Buildings 2021-10-31 12456985 d:CurrentFinancialInstruments 2023-03-31 12456985 d:CurrentFinancialInstruments 2021-10-31 12456985 d:Non-currentFinancialInstruments 2023-03-31 12456985 d:Non-currentFinancialInstruments 2021-10-31 12456985 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12456985 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12456985 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12456985 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 12456985 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 12456985 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-10-31 12456985 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12456985 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-10-31 12456985 d:ShareCapital 2023-03-31 12456985 d:ShareCapital 2021-10-31 12456985 d:RevaluationReserve 2023-03-31 12456985 d:RevaluationReserve 2021-10-31 12456985 d:RetainedEarningsAccumulatedLosses 2023-03-31 12456985 d:RetainedEarningsAccumulatedLosses 2021-10-31 12456985 d:OtherDeferredTax 2023-03-31 12456985 d:OtherDeferredTax 2021-10-31 12456985 c:FRS102 2021-11-01 2023-03-31 12456985 c:AuditExempt-NoAccountantsReport 2021-11-01 2023-03-31 12456985 c:FullAccounts 2021-11-01 2023-03-31 12456985 c:PrivateLimitedCompanyLtd 2021-11-01 2023-03-31 12456985 2 2021-11-01 2023-03-31 12456985 5 2021-11-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12456985

GINGER GLOBAL (UK) 2021 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

GINGER GLOBAL (UK) 2021 LIMITED

REGISTERED NUMBER: 12456985

BALANCE SHEET

AS AT 31 MARCH 2023

	31 March	31 October
	2023	2021
Note	£	£

Fixed assets
Tangible assets	4		1,555,000		-
			1,555,000		-
Current assets
Debtors: amounts falling due within one year	5	1,042,286		-
Cash at bank and in hand	6	351,569		1
		1,393,855		1
Creditors: amounts falling due within one year	7	(1,026,118)		-
Net current assets			367,737		1
Total assets less current liabilities			1,922,737		1
Creditors: amounts falling due after more than one year	8		(941,274)		-
Provisions for liabilities
Deferred tax		(190,146)		-
			(190,146)		-
Net assets			791,317		1

Capital and reserves
Called up share capital	1	1
Revaluation reserve	810,621	-
Profit and loss account	(19,305)	-
	791,317	1

Page 1

GINGER GLOBAL (UK) 2021 LIMITED

REGISTERED NUMBER: 12456985

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 July 2023.

H Patel

Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

1.	General information

Ginger Global (UK) 2021 Limited is a private company, limited by shares and incorporated in England and Wales, United
Kingdom, with a registration number 12456985 . The address of the registered office is Old Station Road,
Loughton, Essex, United Kingdom, IG10 4PL

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

Employees

The average monthly number of employees, including the directors, during the period was as follows:

	2023	2021
	No.	No.

No of Employees	2	2

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	Additions	1,555,000
	At 31 March 2023	1,555,000

	Net book value
	At 31 March 2023	1,555,000
	At 31 October 2021	-

Page 6

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

Debtors

					31 March	31 October
					2023	2021
					£	£


Other debtors	960,072	-
Prepayments and accrued income	82,214	-
	1,042,286	-

Cash at bank and in hand	351,571	1
	351,571	1

Bank loans	18,500	-
Trade creditors	300	-
Amounts owed to group undertakings	817,787	-
Corporation tax	185,415	-
Accruals and deferred income	4,116	-
	1,026,118	-

Bank loans	941,274	-
	941,274	-

Page 7

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

Amounts falling due within one year
Bank loans	18,500	-
	18,500	-

Amounts falling due 2-5 years
Bank loans	74,000	-
	74,000	-
Amounts falling due after more than 5 years
Bank loans	867,275	-
	867,275	-
	959,775	-

10.	Deferred taxation

		2023
		£

	Charged to profit or loss	(190,146)
	At end of year	(190,146)

Page 8

GINGER GLOBAL (UK) 2021 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

10.Deferred taxation (continued)

	Revaluation	(190,146)	-
		(190,146)	-

Page 9