GVL Management Limited
Registered number: 09365232
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 5 155 309
Current assets
Debtors 54,347 73,130
Cash at bank and in hand 15,945 35,288
70,292 108,418
Creditors: amounts falling due within one year (52,956) (59,899)
Net current assets 17,336 48,519
Total assets less current liabilities 17,491 48,828
Creditors: amounts falling due after more than one year (37,812) (46,759)
Net (liabilities)/assets (20,321) 2,069
Capital and reserves
Called up share capital 100 54,352
Profit and loss account (20,421) (52,283)
Shareholders' funds (20,321) 2,069
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Shekyls
Director
Approved by the board on 4 April 2022
GVL Management Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS102 Section 1A for small entities. There were no material departures from that standard.

The Balance Sheet has been abridged pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors' Report) Regulations (SI 2008/49). All the members of the company have consented to the abridgement.
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A for small entities. The transition to FRS 102 Section 1A for small entities may result in a small number of changes in accounting policies to those used previously.

The nature of these changes and their impact on shareholders' funds at the transition date and the comparative Balance Sheet date and profit for the comparative period are explained in the notes below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equpment over 4 years and over 3 year
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
COVID-19 going concern assessment
The Directors have considered the possible effects on the company of the impacts of the worldwide pandemic caused by the Coronavirus (COVID-19). Taking into account a period covering 12 months from the date of approval of these financial statements, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and for this reason will continue to adopt the going concern basis in the preparation of its Financial Statements.
3 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 3
4 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2021 18,610
At 31 December 2021 18,610
Amortisation
At 1 January 2021 18,610
At 31 December 2021 18,610
Net book value
At 31 December 2021 -
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 16,482
At 31 December 2021 16,482
Depreciation
At 1 January 2021 16,173
Charge for the year 154
At 31 December 2021 16,327
Net book value
At 31 December 2021 155
At 31 December 2020 309
6 Loans 2021 2020
£ £
Creditors include:
Instalments falling due for payment after more than five years - 24,537
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S Shekyls 36,522 21,583 (28,281) 29,824
36,522 21,583 (28,281) 29,824
The loan is repayable on demand and interest has been charged at the official rate.
8 Other information
GVL Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Frecheville Court
Bury
Lancashire
BL9 0UF
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