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REGISTERED NUMBER: SC667056 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 10 JULY 2020 TO 31 DECEMBER 2021

FOR

GMG HOTELS LTD

GMG HOTELS LTD (REGISTERED NUMBER: SC667056)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 10 July 2020 to 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GMG HOTELS LTD

COMPANY INFORMATION
for the Period 10 July 2020 to 31 December 2021







DIRECTORS: Ms G Hanlon
G McCaw





REGISTERED OFFICE: 9 Glenburn Road
Paisley
PA2 8TA





REGISTERED NUMBER: SC667056 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

GMG HOTELS LTD (REGISTERED NUMBER: SC667056)

BALANCE SHEET
31 December 2021

Notes £    £   
FIXED ASSETS
Tangible assets 4 58,783

CURRENT ASSETS
Stocks 28,114
Debtors 5 1,243
Cash at bank and in hand 76,988
106,345
CREDITORS
Amounts falling due within one year 6 175,708
NET CURRENT LIABILITIES (69,363 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,580

)

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings (10,582 )
(10,580 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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 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 Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf by:





Ms G Hanlon - Director


GMG HOTELS LTD (REGISTERED NUMBER: SC667056)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 10 July 2020 to 31 December 2021

1. STATUTORY INFORMATION

GMG Hotels Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
Additions 17,728 26,517 22,534 66,779
At 31 December 2021 17,728 26,517 22,534 66,779
DEPRECIATION
Charge for period 1,150 3,378 3,468 7,996
At 31 December 2021 1,150 3,378 3,468 7,996
NET BOOK VALUE
At 31 December 2021 16,578 23,139 19,066 58,783

GMG HOTELS LTD (REGISTERED NUMBER: SC667056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 10 July 2020 to 31 December 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 1,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 63,317
Taxation and social security 15,874
Other creditors 96,517
175,708

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st December 2021 £2,943 is owed to the company directors. The loans are interest free with no fixed date for repayment.

8. RELATED PARTY DISCLOSURES

At 31/12/2021 £45,368 is owed to A and A Paisley Ltd and £17,200 to BEP Paisley Ltd. The loans are interest free with no fixed date for repayment. Mr G McCaw is a director and shareholder in both companies and GMG Hotels Ltd.