Grand Events Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07774359 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GRAND EVENTS HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I R Liddell

SECRETARY:

N K Brooks

REGISTERED OFFICE:

Upminster Court

133 Hall Lane

Upminster

Essex

RM14 1AL

REGISTERED NUMBER:

07774359 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Green LLB FCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

5

9,310

12,250

CURRENT ASSETS

Debtors

6

177,283

129,297

Cash at bank

14,088

714

191,371

130,011

CREDITORS

Amounts falling due within one year

7

355,283

226,374

NET CURRENT LIABILITIES

(163,912

)

(96,363

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(154,602

)

(84,113

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(154,702

)

(84,213

)

(154,602

)

(84,113

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:

I R Liddell - Director

1.	STATUTORY INFORMATION

Grand Events Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern

The financial statements have been prepared under the historical cost convention.

At the year end the Company had a net liabilities position of £154,602 (2021: £84,114).

In light of this, the Company has obtained a letter of support from its immediate parent company, confirming that it will take such actions, as may be reasonably necessary, to enable the Company to continue its operations and settle its obligations in the ordinary course of business at least until 31 December 2024.

The Directors have made reasonable enquiries to enable them to consider the ability of the parent company to support the Company. Taking into account the matters described above the Directors believe that the Company will be able to meet its liabilities as they fall due and will have adequate resources to continue in operational existence until at least 31 December 2024.

The financial statements have therefore been prepared on the going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Grand Events Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, GB Global Holdco. Pte. Ltd, Singapore.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on completion of the event.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

20% on cost

Government grants

Government grants are accounted for on an accruals basis.

Taxation

Taxation for the year comprises current and deferred 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 or deferred 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.

The GB Europe Holdings Limited group offsets its corporation tax profits against the losses of other entities within the group via group relief as permitted by the UK tax legislation. Where such relief is claimed no payment is made between the relevant group companies..

The company is party to group transactions where transfer pricing regulations apply. A formal transfer pricing review is in progress which may impact the tax treatment of group transactions. Should adjustment for transfer pricing result, then any group entity with additional tax liability will be compensated by the group entity with reduced tax liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2022

and 31 December 2022

14,700

DEPRECIATION

At 1 January 2022

2,450

Charge for year

2,940

At 31 December 2022

5,390

NET BOOK VALUE

At 31 December 2022

9,310

At 31 December 2021

12,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

990

10,143

Amounts owed by group undertakings

176,293

118,506

Prepayments and accrued income

-

648

177,283

129,297

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

363

286

Amounts owed to group undertakings

167,811

76,988

VAT

467

8,139

Other creditors

-

15,586

Accrued expenses

186,642

125,375

355,283

226,374

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)

for and on behalf of THP Limited

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Uniserve Holdings Limited, a company incorporated in England and Wales.

The ultimate parent company is GB Global Holdco. Pte. Ltd, a company incorporated in Singapore.

The largest group in the UK for which group accounts are prepared is headed by GB Europe Holdings Limited. A copy of the consolidated accounts may be obtained from Companies House.

The ultimate controlling party is I R Liddell.