Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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1 | 1 | |||
Current assets | ||||
Cash at bank and in hand |
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28 | 28 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current assets | 27 | 27 | ||
Total assets less current liabilities | 28 | 28 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 5 |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of GHL Property Holdings Limited (registered number:
T G Paterson
Director |
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.
GHL Property Holdings 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 C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, G33 6HW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
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.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
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.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include cash and bank balances, 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, including loans from related companies, are recognised at transaction price.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 May 2022 |
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At 30 April 2023 |
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Carrying value at 30 April 2023 |
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Carrying value at 30 April 2022 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 30.04.2023 |
Ownership 30.04.2022 |
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Cumbernauld Road, Stepps, Glasgow, G33 6HW | Hotels and similar accommodation |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other related party transactions
2023 | 2022 | ||
£ | £ | ||
Amounts due to related parties | 1 | 1 |