GHV Limited - Accounts to registrar (filleted) - small 23.2.5
GHV Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Year Ended |
| 28 February 2023 |
| for |
| GHV LIMITED |
| GHV LIMITED (REGISTERED NUMBER: 13228315) |
| Contents of the Financial Statements |
| For The Year Ended 28 February 2023 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| GHV LIMITED |
| Company Information |
| For The Year Ended 28 February 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 8 Eastway |
| Sale |
| Cheshire |
| M33 4DX |
| GHV LIMITED (REGISTERED NUMBER: 13228315) |
| Abridged Balance Sheet |
| 28 February 2023 |
| 28.2.23 | 28.2.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GHV LIMITED (REGISTERED NUMBER: 13228315) |
| Notes to the Financial Statements |
| For The Year Ended 28 February 2023 |
| 1. | STATUTORY INFORMATION |
| GHV Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Investment property is recorded at fair value at each reporting date with fair value gains and losses being recorded in the profit and loss account. Deferred tax consequences in respect of fair value adjustments on investment property are also recorded in profit and loss account. Gains, net of deferred tax, are non-distributable to the shareholders and are presented in a separate component of equity in the balance sheet. |
| Financial instruments |
| A financial asset or 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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment. |
| Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. |
| Debtors do not carry interest and are stated at their nominal value. |
| Trade creditors are not interest-bearing and are stated at their nominal value. |
| Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are 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 which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| 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. |
| GHV LIMITED (REGISTERED NUMBER: 13228315) |
| Notes to the Financial Statements - continued |
| For The Year Ended 28 February 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred tax is calculated using timing difference plus approach. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Employee benefits |
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2022 |
| Additions |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| The directors have not carried out a valuation of some of the investment property at the balance sheet date as required by FRS 102, Section 16 'Investment Property'. In the absence of a fair value for these properties at the balance sheet date, it is not possible for the balance sheet to reflect the fair value of the investment property. Any consequential adjustment to the carrying amount of investment property would be recorded in profit and loss for the year, together with the relevant deferred tax consequences. |
| 5. | LOANS |
| An analysis of the maturity of loans is given below: |
| 28.2.23 | 28.2.22 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Other loans |
| The loan is secured by way of fixed charge over the property of the company. The charge dated 23rd April 2021 is in favour of Fdc (Holdings) Limited. |
| 6. | GOING CONCERN |
| As at 28th February 2023 the company sustained a loss of £117,194 and had net liabilities of £208,015 The director considers that the company is a going concern for at least 12 months from the date the financial statements are issued and on this basis, the financial statements have been prepared on a going concern basis. |