REGISTERED NUMBER: SC650024 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

G C and V Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Fionda

Mrs C S H Fionda

REGISTERED OFFICE:

c/o McLay, McAlister & McGibbon LLP

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC650024 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Investments

4

2,500

53,876

Investment property

5

425,000

108,696

427,500

162,572

CURRENT ASSETS

Cash at bank and in hand

26,342

4,799

CREDITORS

Amounts falling due within one year

6

(196,300

)

(101,205

)

NET CURRENT LIABILITIES

(169,958

)

(96,406

)

TOTAL ASSETS LESS CURRENT LIABILITIES

257,542

66,166

CREDITORS

Amounts falling due after more than one year

7

(233,062

)

(67,767

)

PROVISIONS FOR LIABILITIES

(4,651

)

(433

)

NET ASSETS/(LIABILITIES)

19,829

(2,034

)

CAPITAL AND RESERVES

Called up share capital

9

2

2

Fair value reserve

10

41,060

1,843

Retained earnings

(21,233

)

(3,879

)

SHAREHOLDERS' FUNDS

19,829

(2,034

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 3 October 2023 and were signed on its behalf by:

G Fionda - Director

1.	STATUTORY INFORMATION

G C and V Holdings 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.

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 as modified by the revaluation of certain assets.

The accounts have been prepared on a going concern basis given the support of the directors and other related parties.

Turnover

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

Investments

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investments and investment property are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2022

53,876

Additions

35,700

Disposals

(86,435

)

Revaluations

(641

)

At 31 December 2022

2,500

NET BOOK VALUE

At 31 December 2022

2,500

At 31 December 2021

53,876

Cost or valuation at 31 December 2022 is represented by:

Other

investments

£

Valuation in 2020

857

Valuation in 2021

1,419

Valuation in 2022

(641

)

Cost

865

2,500

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

108,696

Additions

272,228

Revaluations

44,076

At 31 December 2022

425,000

NET BOOK VALUE

At 31 December 2022

425,000

At 31 December 2021

108,696

Fair value at 31 December 2022 is represented by:

£

Valuation in 2022

44,076

Cost

380,924

425,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

12,309

5,150

Other creditors

183,991

96,055

196,300

101,205

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

233,062

67,767

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

171,515

42,017

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Bank loans

245,371

72,917

The bank loan consists of two loans. One is secured by a standard security over the subjects at 27 South Park Grove, Hamilton and one is secured by a standard security over the subjects at 34 Woodlands Drive, Glasgow.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Fair

value

reserve

£

At 1 January 2022

1,843

Transfer to fair value reserve

43,435

Deferred Tax

(4,218

)

At 31 December 2022

41,060