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Company Registration No. 11344772 (England and Wales)
GLH European Limited Unaudited accounts for the year ended 31 May 2023
GLH European Limited Unaudited accounts Contents
Page
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GLH European Limited Company Information for the year ended 31 May 2023
Director
Adrian Gibbs
Company Number
11344772 (England and Wales)
Registered Office
Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
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GLH European Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
142,453 
79,924 
Current assets
Debtors
55,876 
71,335 
Cash at bank and in hand
16,139 
34,120 
72,015 
105,455 
Creditors: amounts falling due within one year
(68,732)
(60,487)
Net current assets
3,283 
44,968 
Total assets less current liabilities
145,736 
124,892 
Creditors: amounts falling due after more than one year
(75,567)
(60,673)
Provisions for liabilities
Deferred tax
(27,066)
(15,186)
Net assets
43,103 
49,033 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
43,101 
49,031 
Shareholders' funds
43,103 
49,033 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 October 2023 and were signed on its behalf by
Adrian Gibbs Director Company Registration No. 11344772
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GLH European Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
GLH European Limited is a private company, limited by shares, registered in England and Wales, registration number 11344772. The registered office is Wolfe Mead, Farnham Road, Bordon, Hampshire, GU35 0NH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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GLH European Limited Notes to the Accounts for the year ended 31 May 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
16,075 
89,773 
454 
106,302 
Additions
- 
89,918 
- 
89,918 
Disposals
- 
(5,500)
- 
(5,500)
At 31 May 2023
16,075 
174,191 
454 
190,720 
Depreciation
At 1 June 2022
5,594 
20,498 
286 
26,378 
Charge for the year
2,921 
22,976 
42 
25,939 
On disposals
- 
(4,050)
- 
(4,050)
At 31 May 2023
8,515 
39,424 
328 
48,267 
Net book value
At 31 May 2023
7,560 
134,767 
126 
142,453 
At 31 May 2022
10,481 
69,275 
168 
79,924 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
112,136 
57,412 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
43,994 
58,347 
Accrued income and prepayments
8,223 
9,210 
Other debtors
3,659 
3,778 
55,876 
71,335 
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GLH European Limited Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,798 
7,798 
Obligations under finance leases and hire purchase contracts
20,601 
10,488 
Trade creditors
14,703 
13,167 
Other creditors
500 
285 
Loans from directors
24,380 
27,999 
Accruals
750 
750 
68,732 
60,487 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,679 
24,597 
Obligations under finance leases and hire purchase contracts
58,872 
36,076 
Taxes and social security
16 
- 
75,567 
60,673 
8
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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