Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31falsetrue2023-01-0111trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11007586 2023-01-01 2023-12-31 11007586 2022-01-01 2022-12-31 11007586 2023-12-31 11007586 2022-12-31 11007586 2022-01-01 11007586 2 2023-01-01 2023-12-31 11007586 d:Director1 2023-01-01 2023-12-31 11007586 e:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 11007586 e:OtherPropertyPlantEquipment 2023-12-31 11007586 e:OtherPropertyPlantEquipment 2022-12-31 11007586 e:CurrentFinancialInstruments 2023-12-31 11007586 e:CurrentFinancialInstruments 2022-12-31 11007586 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 11007586 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 11007586 e:ShareCapital 2023-12-31 11007586 e:ShareCapital 2022-12-31 11007586 e:ShareCapital 2022-01-01 11007586 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 11007586 e:OtherMiscellaneousReserve 2023-12-31 11007586 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 11007586 e:OtherMiscellaneousReserve 2022-12-31 11007586 e:OtherMiscellaneousReserve 2022-01-01 11007586 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11007586 e:RetainedEarningsAccumulatedLosses 2023-12-31 11007586 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 11007586 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11007586 e:RetainedEarningsAccumulatedLosses 2022-12-31 11007586 e:RetainedEarningsAccumulatedLosses 2022-01-01 11007586 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11007586 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11007586 d:FRS102 2023-01-01 2023-12-31 11007586 d:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11007586 d:FullAccounts 2023-01-01 2023-12-31 11007586 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11007586 6 2023-01-01 2023-12-31 11007586 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11007586










GGW HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GGW HOLDINGS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GGW HOLDINGS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GGW Holdings Limited for the year ended 31 December 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of GGW Holdings Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of GGW Holdings Limited and state those matters that we have agreed to state to the director of GGW Holdings Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GGW Holdings Limited and its director for our work or for this report. 

It is your duty to ensure that GGW Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GGW Holdings Limited. You consider that GGW Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GGW Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Simmons Gainsford Professional Services Limited
 
Chartered Accountants
  
52 New Town
Uckfield
East Sussex
TN22 5DE
15 April 2024
Page 1

 
GGW HOLDINGS LIMITED
REGISTERED NUMBER: 11007586

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,800,000
397,072

Investments
 5 
200
200

  
1,800,200
397,272

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,729

Cash at bank and in hand
 7 
76,118
955

  
76,118
2,684

Creditors: amounts falling due within one year
 8 
(430,224)
(367,218)

Net current liabilities
  
 
 
(354,106)
 
 
(364,534)

Total assets less current liabilities
  
1,446,094
32,738

Provisions for liabilities
  

Deferred tax
  
(350,732)
-

  
 
 
(350,732)
 
 
-

Net assets
  
1,095,362
32,738


Capital and reserves
  

Called up share capital 
  
200
200

Other reserves
  
1,052,196
-

Profit and loss account
  
42,966
32,538

  
1,095,362
32,738

Page 2

 
GGW HOLDINGS LIMITED
REGISTERED NUMBER: 11007586
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K C Honeysett
Director

Date: 15 April 2024

The notes on pages 5 to 12 form part of these financial statements.
Page 3

 
GGW HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
200
-
24,296
24,496


Comprehensive income for the year

Profit for the year
-
-
89,242
89,242

Dividends: Equity capital
-
-
(81,000)
(81,000)



At 1 January 2023
200
-
32,538
32,738


Comprehensive income for the year

Profit for the year
-
-
1,172,624
1,172,624

Dividends: Equity capital
-
-
(110,000)
(110,000)

Fair value movement
-
1,402,928
(1,402,928)
-

Deferred tax on fair value movement
-
(350,732)
350,732
-


At 31 December 2023
200
1,052,196
42,966
1,095,362


The notes on pages 5 to 12 form part of these financial statements.
Page 4

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

GGW Holdings Limited is a private company limited by shares registered in England and Wales. The registered office is 52 New Town, Uckfield, East Sussex, TN22 5DE. The company's registered number is 11007586.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.



The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Page 7

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 8

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 9

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Other fixed assets

£



Valuation


At 1 January 2023
397,072


Revaluations
1,402,928



At 31 December 2023

1,800,000






Net book value



At 31 December 2023
1,800,000



At 31 December 2022
397,072


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2023
200



At 31 December 2023
200





6.


Debtors

2023
2022
£
£


Other debtors
-
1,729


Page 10

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
76,118
955



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
174,017

Amounts owed to other participating interests
426,114
189,603

Corporation tax
2,446
1,933

Accruals and deferred income
1,664
1,665

430,224
367,218



9.


Deferred taxation




2023


£






Charged to profit or loss
(350,732)



At end of year
(350,732)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Capital gain liability on revaluation
(350,732)
-

(350,732)
-

Page 11

 
GGW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Reserves

Other reserves

The other reserves comprise the balance of revaluations relating to land and property net of deferred tax on the gain.

Profit and loss account

The profit and loss account comprise the balance of profits accumulated over the life of the company.


11.


Related party transactions

The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.

 
Page 12