Registered number
10430910
GGH MANAGEMENT LIMITED
Filleted Accounts
31 March 2023
GGH MANAGEMENT LIMITED
Registered number: 10430910
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,191 239
Current assets
Debtors 4 37,999 23,983
Cash at bank and in hand 569,962 390,811
607,961 414,794
Creditors: amounts falling due within one year 5 (178,968) (101,959)
Net current assets 428,993 312,835
Net assets 432,184 313,074
Capital and reserves
Called up share capital 200 200
Profit and loss account 431,984 312,874
Shareholders' funds 432,184 313,074
The directors are 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 directors acknowledge their 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.
Mr Najib Haddad Mr Nicholas Haddad
Director Director
Approved by the board on 12 October 2023
GGH MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 property management and from the rendering of services
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 over its expected useful life using the reducing balance method as follows:
Fixtures, fittings, tools and equipment 20%
Motor vehicle 25%
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to money purchased plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 6
3 Tangible fixed assets
Office equipment and fixtures Motor vehicles Total
£ £ £
Cost
At 1 April 2022 729 - 729
Additions - 4,000 4,000
At 31 March 2023 729 4,000 4,729
Depreciation
At 1 April 2022 490 - 490
Charge for the year 48 1,000 1,048
At 31 March 2023 538 1,000 1,538
Net book value
At 31 March 2023 191 3,000 3,191
At 31 March 2022 239 - 239
4 Debtors 2023 2022
£ £
Trade debtors 35,745 21,539
Other debtors 2,254 2,444
37,999 23,983
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 70,667 26,802
Other creditors 108,301 75,157
178,968 101,959
6 Controlling party
The company was controlled throughout the current and previous periods by its directors
Messrs Najib Haddad and Nicholas Haddad who between them own 40% of the ordinary
share capital of the company and members of their immediate family the remaining 60%
7 Other information
GGH MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
165 Nunhead Grove
London
SE15 3LS
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