GH Developments (SW) Ltd 13789696 false 2021-12-08 2022-12-31 2022-12-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true 13789696 2021-12-08 2022-12-31 13789696 2022-12-31 13789696 core:RetainedEarningsAccumulatedLosses 2022-12-31 13789696 core:ShareCapital 2022-12-31 13789696 core:CurrentFinancialInstruments 2022-12-31 13789696 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13789696 core:MotorVehicles 2022-12-31 13789696 bus:SmallEntities 2021-12-08 2022-12-31 13789696 bus:AuditExemptWithAccountantsReport 2021-12-08 2022-12-31 13789696 bus:FullAccounts 2021-12-08 2022-12-31 13789696 bus:SmallCompaniesRegimeForAccounts 2021-12-08 2022-12-31 13789696 bus:RegisteredOffice 2021-12-08 2022-12-31 13789696 bus:Director1 2021-12-08 2022-12-31 13789696 bus:PrivateLimitedCompanyLtd 2021-12-08 2022-12-31 13789696 core:MotorVehicles 2021-12-08 2022-12-31 13789696 countries:EnglandWales 2021-12-08 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 13789696

GH Developments (SW) Ltd

Filleted Unaudited Financial Statements

for the Period from 8 December 2021 to 31 December 2022

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Company Information

Director

G Hudson

Registered office

44 Boulevard
Weston-Super-Mare
Somerset
BS23 1NF

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Balance Sheet as at 31 December 2022

Note

2022
£

Fixed assets

 

Tangible assets

4

2,960

Current assets

 

Debtors

5

280,780

Cash at bank and in hand

 

7,146

 

287,926

Creditors: Amounts falling due within one year

6

(288,743)

Net current liabilities

 

(817)

Total assets less current liabilities

 

2,143

Provisions for liabilities

(388)

Net assets

 

1,755

Capital and reserves

 

Called up share capital

100

Profit and loss account

1,655

Total equity

 

1,755

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Balance Sheet as at 31 December 2022

For the financial period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director on 6 October 2023
 

.........................................
G Hudson
Director

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Notes to the Unaudited Financial Statements for the Period from 8 December 2021 to 31 December 2022

1

General information

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

The address of its registered office is:
44 Boulevard
Weston-Super-Mare
Somerset
BS23 1NF

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.

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Notes to the Unaudited Financial Statements for the Period from 8 December 2021 to 31 December 2022

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

motor vehicles

20% straight line basis

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.

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Notes to the Unaudited Financial Statements for the Period from 8 December 2021 to 31 December 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

3,700

3,700

At 31 December 2022

3,700

3,700

Depreciation

Charge for the period

740

740

At 31 December 2022

740

740

Carrying amount

At 31 December 2022

2,960

2,960

 

GH Developments (SW) Ltd
(Registration number: 13789696)

Notes to the Unaudited Financial Statements for the Period from 8 December 2021 to 31 December 2022

5

Debtors

2022
£

Trade debtors

26,250

Other debtors

254,530

Total current trade and other debtors

280,780

6

Creditors

Note

2022
£

Due within one year

 

Loans and borrowings

7

110,480

Trade creditors

 

84,273

Other creditors

 

93,990

 

288,743

7

Loans and borrowings

2022
£

Current loans and borrowings

Other borrowings

110,480