1 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-18 Sage Accounts Production Advanced 2021 - FRS102_2021 371,341 371,341 371,341 xbrli:pure xbrli:shares iso4217:GBP 14114925 2022-05-18 2023-05-31 14114925 2023-05-31 14114925 bus:OrdinaryShareClass1 2022-05-18 2023-05-31 14114925 bus:Director1 2022-05-18 2023-05-31 14114925 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-18 2023-05-31 14114925 core:AfterOneYear 2023-05-31 14114925 core:WithinOneYear 2023-05-31 14114925 core:ShareCapital 2023-05-31 14114925 core:RetainedEarningsAccumulatedLosses 2023-05-31 14114925 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 14114925 bus:SmallEntities 2022-05-18 2023-05-31 14114925 bus:AuditExempt-NoAccountantsReport 2022-05-18 2023-05-31 14114925 bus:FullAccounts 2022-05-18 2023-05-31 14114925 bus:SmallCompaniesRegimeForAccounts 2022-05-18 2023-05-31 14114925 bus:PrivateLimitedCompanyLtd 2022-05-18 2023-05-31 14114925 bus:OrdinaryShareClass1 2023-05-31
COMPANY REGISTRATION NUMBER: 14114925
G&H Property (Suffolk) Limited
Filleted Unaudited Financial Statements
31 May 2023
G&H Property (Suffolk) Limited
Statement of Financial Position
31 May 2023
31 May 23
Note
£
Fixed assets
Tangible assets
5
371,341
Current assets
Debtors
6
122
Cash at bank and in hand
1,118
-------
1,240
Creditors: amounts falling due within one year
7
120,823
---------
Net current liabilities
119,583
---------
Total assets less current liabilities
251,758
Creditors: amounts falling due after more than one year
8
262,500
---------
Net liabilities
( 10,742)
---------
Capital and reserves
Called up share capital
9
100
Profit and loss account
( 10,842)
--------
Shareholders deficit
( 10,742)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
G&H Property (Suffolk) Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
Mrs S Rossi
Director
Company registration number: 14114925
G&H Property (Suffolk) Limited
Notes to the Financial Statements
Period from 18 May 2022 to 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 3, 1 Southbourne Road, Sheffield, S10 2QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Freehold property
£
Cost
At 18 May 2022
Additions
371,341
---------
At 31 May 2023
371,341
---------
Depreciation
At 18 May 2022 and 31 May 2023
---------
Carrying amount
At 31 May 2023
371,341
---------
6. Debtors
31 May 23
£
Other debtors
122
----
7. Creditors: amounts falling due within one year
31 May 23
£
Other creditors
120,823
---------
8. Creditors: amounts falling due after more than one year
31 May 23
£
Bank loans and overdrafts
262,500
---------
The company has an interest only mortgage with Monmouthshire Building Society. The mortgage is secured by a legal mortgage over the company's investment property.
9. Called up share capital
Issued, called up and fully paid
31 May 23
No.
£
Ordinary shares of £ 1 each
100
100
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----