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REGISTERED NUMBER: 12664476 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Grouphug Partnership Ltd

Grouphug Partnership Ltd (Registered number: 12664476)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Grouphug Partnership Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: K Gulati





REGISTERED OFFICE: The Oval
57 New Walk
Leicester
Leicestershire
LE1 7EA





REGISTERED NUMBER: 12664476 (England and Wales)






Grouphug Partnership Ltd (Registered number: 12664476)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,752 2,009
Investment property 5 6,780,000 6,780,000
6,781,752 6,782,009

Current assets
Debtors 6 183,034 114,162
Cash at bank 10,656 15,102
193,690 129,264
Creditors
Amounts falling due within one year 7 5,327,569 5,247,242
Net current liabilities (5,133,879 ) (5,117,978 )
Total assets less current liabilities 1,647,873 1,664,031

Capital and reserves
Called up share capital 15,000 15,000
Share premium 1,704,998 1,704,998
Retained earnings (72,125 ) (55,967 )
1,647,873 1,664,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2024 and were signed by:



K Gulati - Director


Grouphug Partnership Ltd (Registered number: 12664476)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

Grouphug Partnership Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

Grouphug Partnership Ltd (Registered number: 12664476)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 July 2022 2,998
Additions 607
At 30 June 2023 3,605
Depreciation
At 1 July 2022 989
Charge for year 864
At 30 June 2023 1,853
Net book value
At 30 June 2023 1,752
At 30 June 2022 2,009

5. Investment property
Total
£   
Fair value
At 1 July 2022
and 30 June 2023 6,780,000
Net book value
At 30 June 2023 6,780,000
At 30 June 2022 6,780,000

6. Debtors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Trade debtors 19,061 13,030
Other debtors 163,973 101,132
183,034 114,162

7. Creditors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 30,000 -
Trade creditors 137,645 157,235
Other creditors 5,159,924 5,090,007
5,327,569 5,247,242

Grouphug Partnership Ltd (Registered number: 12664476)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. Ultimate controlling party

The ultimate controlling party is the Director.