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Registration number: 00357776

GHW Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

GHW Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

GHW Developments Limited

Company Information

Directors

L M Herbert

S Herbert

Company secretary

RGW Herbert

Registered office

5th Floor
One New Change
London
EC4M 9AF

Accountants

AMR Tax Ltd
Greenshutters
Wentworth Close
Surbiton
Surrey
KT6 5DY

 

GHW Developments Limited

(Registration number: 00357776)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,140,983

1,159,657

Current assets

 

Debtors

5

62,691

8,988

Cash at bank and in hand

 

1,304,361

1,355,420

 

1,367,052

1,364,408

Creditors: Amounts falling due within one year

6

(52,493)

(40,546)

Net current assets

 

1,314,559

1,323,862

Total assets less current liabilities

 

2,455,542

2,483,519

Provisions for liabilities

(5,915)

(11,232)

Net assets

 

2,449,627

2,472,287

Capital and reserves

 

Called up share capital

7

87,000

87,000

Share premium reserve

30,100

30,100

Capital redemption reserve

53,000

53,000

Retained earnings

2,279,527

2,302,187

Shareholders' funds

 

2,449,627

2,472,287

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 September 2022 and signed on its behalf by:
 

 

GHW Developments Limited

(Registration number: 00357776)
Balance Sheet as at 31 December 2021

.........................................
S Herbert
Director

 

GHW Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5th Floor
One New Change
London
EC4M 9AF

These financial statements were authorised for issue by the Board on 14 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

GHW Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

Structural Element 3% per annum

Other Tangible Assets

Over 10 years

Furniture Fittings and Equipment

Over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

GHW Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2020 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

1,087,647

105,233

1,192,880

Additions

-

833

833

At 31 December 2021

1,087,647

106,066

1,193,713

Depreciation

At 1 January 2021

11,272

21,951

33,223

Charge for the year

8,254

11,253

19,507

At 31 December 2021

19,526

33,204

52,730

Carrying amount

At 31 December 2021

1,068,121

72,862

1,140,983

At 31 December 2020

1,076,375

83,282

1,159,657

Included within the net book value of land and buildings above is £1,068,121 (2020 - £1,076,375) in respect of freehold land and buildings.
 

5

Debtors

Current

2021
£

2020
£

Trade debtors

8,762

2,956

Prepayments

-

3,330

Other debtors

53,929

2,702

 

62,691

8,988

 

GHW Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

5,992

5,253

Taxation and social security

10,564

9,792

Accruals and deferred income

29,658

16,136

Other creditors

6,279

9,365

52,493

40,546

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

87,000

87,000

87,000

87,000