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REGISTERED NUMBER: 09423175 (England and Wales)

















GLH MANAGEMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






GLH MANAGEMENTS LIMITED (REGISTERED NUMBER: 09423175)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


GLH MANAGEMENTS LIMITED (REGISTERED NUMBER: 09423175)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,666 87,692

CURRENT ASSETS
Debtors 5 52,233 63,552
Cash at bank 32,031 28,117
84,264 91,669
CREDITORS
Amounts falling due within one year 6 306,536 269,078
NET CURRENT LIABILITIES (222,272 ) (177,409 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(136,606

)

(89,717

)

CREDITORS
Amounts falling due after more than one year 7 (11,974 ) (16,722 )

PROVISIONS FOR LIABILITIES - (385 )
NET LIABILITIES (148,580 ) (106,824 )

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings (148,730 ) (106,974 )
SHAREHOLDERS' FUNDS (148,580 ) (106,824 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 May 2023 and were signed on its behalf by:





G R Taylor - Director


GLH MANAGEMENTS LIMITED (REGISTERED NUMBER: 09423175)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Glh Managements Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09423175

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

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


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.

Going concern
The director is of the opinion that it is appropriate to prepare the accounts on the going concern basis, because he has confirmed his continued support for the company for the foreseeable future.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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.
Fixtures and fittings - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


GLH MANAGEMENTS LIMITED (REGISTERED NUMBER: 09423175)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 March 2022 85,666 8,540 94,206
Disposals - (8,540 ) (8,540 )
At 28 February 2023 85,666 - 85,666
DEPRECIATION
At 1 March 2022 - 6,514 6,514
Eliminated on disposal - (6,514 ) (6,514 )
At 28 February 2023 - - -
NET BOOK VALUE
At 28 February 2023 85,666 - 85,666
At 28 February 2022 85,666 2,026 87,692

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 52,233 63,552

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,747 4,630
Trade creditors 246 114
Taxation and social security 36,305 17,619
Other creditors 265,238 246,715
306,536 269,078

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 11,974 16,722

GLH MANAGEMENTS LIMITED (REGISTERED NUMBER: 09423175)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
G R Taylor and Mrs L Taylor
Balance outstanding at start of year 26,376 35,728
Amounts advanced 108,681 118,648
Amounts repaid (120,000 ) (128,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,057 26,376

During the year interest of £90 was paid (2022 - £342) in respect of the overdrawn director's loan account.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £120,000 (2022 - £128,000) were paid to the directors .

OKE (Catering Equipment & Ventilation Systems) Ltd
A company in which G Taylor and L Taylor are shareholders.

Management fees received from OKE (Catering Equipment & Ventilation Systems) Ltd in the year total £80,600 (2022: £80,600).

The balance owing to OKE (Catering Equipment & Ventilation Systems) Ltd at the balance sheet date was £265,238 (2022: £246,715).

The loan is on an interest free basis and there are no agreed repayment terms.

G&L Taylor Properties Limited
A company in which G Taylor and L Taylor are both shareholders.

Amount due from the related party at the balance sheet date £37,176 (2021: £37,176).

No interest is payable on the loan and there are no agreed repayment terms.