GGC IFA Holdings Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 08027398 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 MAY 2013 TO 31 DECEMBER 2013

FOR

GGC IFA HOLDINGS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

M A Gregory

R A W Gunson

REGISTERED OFFICE:

Unit 8

Daltongate Business Centre

Ulverson

Cumbria

LA12 7AJ

REGISTERED NUMBER:

08027398 (England and Wales)

ACCOUNTANTS:

Momentum Taxation & Accountancy Ltd.

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

FIXED ASSETS

Intangible assets

2

612,750

-

Tangible assets

3

4,250

-

617,000

-

CURRENT ASSETS

Debtors

-

100

Cash at bank

200

-

200

100

CREDITORS

Amounts falling due within one year

598,180

-

NET CURRENT (LIABILITIES)/ASSETS

(597,980

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

19,020

100

PROVISIONS FOR LIABILITIES

30

-

NET ASSETS

18,990

100

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

18,890

-

SHAREHOLDERS' FUNDS

18,990

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 August 2014 and were signed on its behalf by:

M A Gregory - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Deferred tax

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

date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

645,000

At 31 December 2013

645,000

AMORTISATION

Amortisation for period

32,250

At 31 December 2013

32,250

NET BOOK VALUE

At 31 December 2013

612,750

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

5,000

At 31 December 2013

5,000

DEPRECIATION

Charge for period

750

At 31 December 2013

750

NET BOOK VALUE

At 31 December 2013

4,250

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2013

value:

£

£

100

Ordinary

£1.00

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 31 December 2013 and 30 April 2013:

2013

2013

£

£

M A Gregory

Balance outstanding at start of period

(325,000

)

(325,000

)

Amounts advanced

37,773

-

Amounts repaid

-

-

Balance outstanding at end of period

(287,227

)

(325,000

)

R A W Gunson

Balance outstanding at start of period

(325,000

)

(325,000

)

Amounts advanced

37,271

-

Amounts repaid

-

-

Balance outstanding at end of period

(287,729

)

(325,000

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of GGC IFA Holdings Limited for the period ended 31 December 2013 which comprise the Profit and Loss Account, the

Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other

professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of GGC IFA Holdings Limited, as a body, in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GGC IFA Holdings

Limited and state those matters that we have agreed to state to the Board of Directors of GGC IFA Holdings Limited, as a body, in

this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GGC IFA Holdings Limited has kept adequate accounting records and to prepare statutory financial

statements that give a true and fair view of the assets, liabilities, financial position and profit of GGC IFA Holdings Limited. You

consider that GGC IFA Holdings Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of GGC IFA Holdings Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the statutory financial statements.

Momentum Taxation & Accountancy Ltd.

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

Date: .............................................