Registered number
10684791
G G Holiday Lets Limited
Filleted Accounts
31 March 2023
G G Holiday Lets Limited
Registered number: 10684791
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 31,815 39,359
Tangible assets 4 32,381 38,175
64,196 77,534
Current assets
Debtors 5 231,498 160,525
Cash at bank and in hand 1,855 2,475
233,353 163,000
Creditors: amounts falling due within one year 6 (16,634) (5,650)
Net current assets 216,719 157,350
Total assets less current liabilities 280,915 234,884
Provisions for liabilities (5,945) (4,403)
Net assets 274,970 230,481
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 15,000 15,000
Profit and loss account 259,870 215,381
Shareholders' funds 274,970 230,481
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Guy John Greenland
Director
Approved by the board on 27 October 2023
G G Holiday Lets Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Leasehold improvememts Over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 65,599
Additions 6,970
At 31 March 2023 72,569
Amortisation
At 1 April 2022 26,240
Provided during the year 14,514
At 31 March 2023 40,754
Net book value
At 31 March 2023 31,815
At 31 March 2022 39,359
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 15,000 30,900 45,900
At 31 March 2023 15,000 30,900 45,900
Depreciation
At 1 April 2022 - 7,725 7,725
Charge for the year - 5,794 5,794
At 31 March 2023 - 13,519 13,519
Net book value
At 31 March 2023 15,000 17,381 32,381
At 31 March 2022 15,000 23,175 38,175
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 44,855 24,462
Other debtors 186,643 136,063
231,498 160,525
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 3,971
Other creditors 16,634 1,679
16,634 5,650
7 Revaluation reserve 2023 2022
£ £
At 1 April 2022 15,000 -
Gain on revaluation of land and buildings - 15,000
At 31 March 2023 15,000 15,000
8 Related party transactions
At the period end the company was owed £130,815 (2022: £99,695) by Mr Guy John Greenland, director. The loan is interest bearing at 2.5% and repayable after less than one year.

At the period end the company was owed £16,777 (2022: £15,418) by Mrs Frances Greenland, shareholder. The loan is interest bearing at 2.5% and repayable after less than one year.

At the period end the company was owed £44,855 (2022: £24,462) by Goliath Communications Ltd, a subsidiary company ultimately controlled by Mr Guy John Greenland, director. The loan is interest free and repayable after less than one year.
9 Controlling party
The company is ultimately controlled by Mr Guy John Greenland, director, who owns 67% of the issued share captial.
10 Other information
G G Holiday Lets Limited is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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