Silverfin false 30/04/2023 01/05/2022 30/04/2023 J Fernandez-Ares 04/11/2002 R J Paterson 01/02/1999 T G Paterson 01/02/1999 29 September 2023 The principal activity of the Company is that of the rental of investment properties. SC115552 2023-04-30 SC115552 bus:Director1 2023-04-30 SC115552 bus:Director2 2023-04-30 SC115552 bus:Director3 2023-04-30 SC115552 2022-04-30 SC115552 core:CurrentFinancialInstruments 2023-04-30 SC115552 core:CurrentFinancialInstruments 2022-04-30 SC115552 core:ShareCapital 2023-04-30 SC115552 core:ShareCapital 2022-04-30 SC115552 core:CapitalRedemptionReserve 2023-04-30 SC115552 core:CapitalRedemptionReserve 2022-04-30 SC115552 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC115552 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC115552 core:InvestmentPropertyIncludedWithinPPE 2022-04-30 SC115552 core:InvestmentPropertyIncludedWithinPPE 2023-04-30 SC115552 bus:OrdinaryShareClass1 2023-04-30 SC115552 core:OtherRelatedParties 2023-04-30 SC115552 core:OtherRelatedParties 2022-04-30 SC115552 2022-05-01 2023-04-30 SC115552 bus:FullAccounts 2022-05-01 2023-04-30 SC115552 bus:SmallEntities 2022-05-01 2023-04-30 SC115552 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC115552 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC115552 bus:Director1 2022-05-01 2023-04-30 SC115552 bus:Director2 2022-05-01 2023-04-30 SC115552 bus:Director3 2022-05-01 2023-04-30 SC115552 2021-05-01 2022-04-30 SC115552 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC115552 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 SC115552 1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC115552 (Scotland)

GHL PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

GHL PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

GHL PROPERTY LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
GHL PROPERTY LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 300,988 300,988
300,988 300,988
Current assets
Debtors 4 918,753 1,343,608
918,753 1,343,608
Creditors: amounts falling due within one year 5 ( 2,375) ( 2,280)
Net current assets 916,378 1,341,328
Total assets less current liabilities 1,217,366 1,642,316
Net assets 1,217,366 1,642,316
Capital and reserves
Called-up share capital 6 1,408 1,408
Capital redemption reserve 192 192
Profit and loss account 1,215,766 1,640,716
Total shareholder's funds 1,217,366 1,642,316

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GHL Property Limited (registered number: SC115552) were approved and authorised for issue by the Director on 29 September 2023. They were signed on its behalf by:

J Fernandez-Ares
Director
GHL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
GHL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GHL Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Cumbernauld Road, Stepps, Glasgow, G33 6HW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents revenue recognised by the company in respect of property letting during the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Investment property Total
£ £
Cost
At 01 May 2022 300,988 300,988
At 30 April 2023 300,988 300,988
Accumulated depreciation
At 01 May 2022 0 0
At 30 April 2023 0 0
Net book value
At 30 April 2023 300,988 300,988
At 30 April 2022 300,988 300,988

Investment property comprises a property held for rental. The property was valued as at 31 October 2014 by Mr T G Paterson at a market value of £300,988 and the director believes this carrying value remains appropriate.

The historic cost of investment property is £300,988.

4. Debtors

2023 2022
£ £
Amounts owed by related parties (note 7) 918,753 1,343,608

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 2,375 2,280

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,408 Ordinary shares of £ 1.00 each 1,408 1,408

7. Related party transactions

Transactions with related parties or connected persons

Amounts owed by related parties

2023 2022
£ £
Entities over which the entity has control, joint control or significant influence 918,753 1,343,608

8. Ultimate controlling party

The company's ultimate parent company is GHL Property Holdings Limited.