The GE Club (London) Limited |
Registered number: |
08317118 |
Balance Sheet |
as at 31 August 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
3 |
|
|
3 |
Investments |
4 |
|
|
150 |
|
|
143,736 |
|
|
|
|
153 |
|
|
143,739 |
|
Current assets |
Debtors |
5 |
|
10,000 |
|
|
10,000 |
|
Creditors: amounts falling due within one year |
6 |
|
(9,907) |
|
|
(9,907) |
|
Net current assets |
|
|
|
93 |
|
|
93 |
|
Net assets |
|
|
|
246 |
|
|
143,832 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,329 |
|
|
1,329 |
Share premium |
|
|
|
181,231 |
|
|
181,231 |
Revaluation reserve |
7 |
|
|
- |
|
|
143,586 |
Profit and loss account |
|
|
|
(182,314) |
|
|
(182,314) |
|
Shareholders' funds |
|
|
|
246 |
|
|
143,832 |
|
|
|
|
|
|
|
|
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. A profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
R Holgate |
Director |
Approved by the board on 11 April 2024 |
|
The GE Club (London) Limited |
Notes to the Accounts |
for the year ended 31 August 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). |
|
|
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: |
|
|
Fixtures, fittings, tools and equipment |
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. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 September 2022 |
778 |
|
At 31 August 2023 |
778 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2022 |
775 |
|
At 31 August 2023 |
775 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2023 |
3 |
|
At 31 August 2022 |
3 |
|
|
4 |
Investments |
|
Other |
investments |
£ |
|
Fair Value |
|
At 1 September 2022 |
143,736 |
|
Revaluation |
(143,586) |
|
|
At 31 August 2023 |
150 |
|
The shares in Locosoco Group plc were revalued by the Director in 2019. |
|
|
5 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
10,000 |
|
10,000 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Other creditors |
9,907 |
|
9,907 |
|
|
|
|
|
|
|
|
|
|
Other creditors includes a loan of £3,040 (2022: £3,040) from Gilbert Eliott Holdings Limited, a company in which Robert Holgate is a director and shareholder and a loan of £818 (2022: £818) from Gilbert Eliott Consultancy Limited a wholly owned subsidiary of Gilbert Eliott Holdings Limited (see Note 9 below). It also includes a loan of £6,049 (2022: £6,049) from Robert Holgate (see Note 8 below). |
|
|
7 |
Revaluation reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 September 2022 |
143,586 |
|
143,586 |
|
Loss on revaluation of investments |
(143,586) |
|
- |
|
|
At 31 August 2023 |
- |
|
143,586 |
|
|
|
|
|
|
|
|
|
|
8 |
Loans from director |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Robert J Holgate |
|
Unsecured loan |
6,049 |
|
- |
|
- |
|
6,049 |
|
|
|
6,049 |
|
- |
|
- |
|
6,049 |
|
|
|
|
|
|
|
|
|
|
9 |
Related party transactions |
|
|
Gilbert Eliott Holdings Limited |
|
Robert Holgate is a director and shareholder of the Company. The loan from Gilbert Eliott Holdings Limited is repayable on demand, unsecured and interest free. |
|
|
Gilbert Eliott Consultancy Limited |
|
Wholly owned subsidiary of Gilbert Eliott Holdings Limited. The loan from Gilbert Eliott Consultancy Limited is repayable on demand, unsecured and interest free. |
|
|
10 |
Controlling party |
|
|
The company is not controlled by any one individual. |
|
|
11 |
Other information |
|
|
The GE Club (London) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
85 Great Portland Street |
|
London |
|
W1W 7LT |