Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Caroline Bailey 20/03/2024 01/08/2023 Amy Griffiths 01/11/2022 George Griffiths 07/10/2021 15 July 2024 The principal activity of the Company during the financial year was that of an investment company. 13667786 2023-12-31 13667786 bus:Director1 2023-12-31 13667786 bus:Director2 2023-12-31 13667786 bus:Director3 2023-12-31 13667786 2022-12-31 13667786 core:CurrentFinancialInstruments 2023-12-31 13667786 core:CurrentFinancialInstruments 2022-12-31 13667786 core:ShareCapital 2023-12-31 13667786 core:ShareCapital 2022-12-31 13667786 core:RetainedEarningsAccumulatedLosses 2023-12-31 13667786 core:RetainedEarningsAccumulatedLosses 2022-12-31 13667786 core:CostValuation 2022-12-31 13667786 core:AdditionsToInvestments 2023-12-31 13667786 core:DisposalsRepaymentsInvestments 2023-12-31 13667786 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 13667786 core:CostValuation 2023-12-31 13667786 bus:OrdinaryShareClass1 2023-12-31 13667786 2023-01-01 2023-12-31 13667786 bus:FilletedAccounts 2023-01-01 2023-12-31 13667786 bus:SmallEntities 2023-01-01 2023-12-31 13667786 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13667786 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13667786 bus:Director1 2023-01-01 2023-12-31 13667786 bus:Director2 2023-01-01 2023-12-31 13667786 bus:Director3 2023-01-01 2023-12-31 13667786 2021-10-07 2022-12-31 13667786 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 13667786 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13667786 bus:OrdinaryShareClass1 2021-10-07 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13667786 (England and Wales)

GG FINANCIAL MANAGEMENT LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

GG FINANCIAL MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GG FINANCIAL MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
GG FINANCIAL MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Investments 3 259,001 247,711
259,001 247,711
Current assets
Cash at bank and in hand 267,588 75,938
267,588 75,938
Creditors: amounts falling due within one year 4 ( 528,248) ( 336,859)
Net current liabilities (260,660) (260,921)
Total assets less current liabilities (1,659) (13,210)
Net liabilities ( 1,659) ( 13,210)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 1,759 ) ( 13,310 )
Total shareholder's deficit ( 1,659) ( 13,210)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GG Financial Management Ltd (registered number: 13667786) were approved and authorised for issue by the Board of Directors on 15 July 2024. They were signed on its behalf by:

George Griffiths
Director
GG FINANCIAL MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GG FINANCIAL MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

GG Financial Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 120 Watermoor Point Watermoor Road, Cirencester, GL7 1LF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.12.2023
Period from
07.10.2021 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 247,711 247,711
Additions 1,071,709 1,071,709
Disposals ( 1,065,892) ( 1,065,892)
Movement in fair value 5,473 5,473
At 31 December 2023 259,001 259,001
Carrying value at 31 December 2023 259,001 259,001
Carrying value at 31 December 2022 247,711 247,711

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The cost of the shares on acquisition was £253,525. Other investments are held at cost less impairment because their fair value cannot be measured reliably.

4. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Amounts owed to directors 524,900 336,859
Accruals 3,348 0
528,248 336,859

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

During the year, a director maintained a loan account with the company. At the year end, the company owed the director £524,900 (2022 - £336,859). There are no fixed dates for repayment and no interest has been charged.