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REGISTERED NUMBER: 13058791 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GG-642-498 Limited

GG-642-498 Limited (Registered number: 13058791)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GG-642-498 Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Man Ching Tam





SECRETARY: GetGround Secretary Limited





REGISTERED OFFICE: 1 Lyric Square
London
W6 0NB





REGISTERED NUMBER: 13058791 (England and Wales)






GG-642-498 Limited (Registered number: 13058791)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,841 1,548
Investment property 5 135,000 128,000
136,841 129,548

CURRENT ASSETS
Debtors 6 135 769
Cash at bank 2,473 2,917
2,608 3,686
CREDITORS
Amounts falling due within one year 7 39,883 36,610
NET CURRENT LIABILITIES (37,275 ) (32,924 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,566

96,624

CREDITORS
Amounts falling due after more than
one year

8

(97,769

)

(100,000

)

PROVISIONS FOR LIABILITIES (823 ) -
NET ASSETS/(LIABILITIES) 974 (3,376 )

GG-642-498 Limited (Registered number: 13058791)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 2,015 (3,655 )
Retained earnings (1,141 ) 179
974 (3,376 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 17 July 2024 and were signed by:





Man Ching Tam - Director


GG-642-498 Limited (Registered number: 13058791)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GG-642-498 Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.


GG-642-498 Limited (Registered number: 13058791)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 1,560 659 2,219
Additions - 971 971
At 31 December 2023 1,560 1,630 3,190
DEPRECIATION
At 1 January 2023 520 151 671
Charge for year 390 288 678
At 31 December 2023 910 439 1,349
NET BOOK VALUE
At 31 December 2023 650 1,191 1,841
At 31 December 2022 1,040 508 1,548

GG-642-498 Limited (Registered number: 13058791)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 128,000
Revaluations 7,000
At 31 December 2023 135,000
NET BOOK VALUE
At 31 December 2023 135,000
At 31 December 2022 128,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 (4,512 )
Valuation in 2023 7,000
Cost 132,512
135,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Deferred tax asset - 563
Prepayments and accrued income - 206
Prepayments 135 -
135 769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 26 -
Directors' current accounts 39,702 36,603
Accruals and deferred income 155 7
39,883 36,610

GG-642-498 Limited (Registered number: 13058791)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans more 5 yrs non-inst 97,769 100,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 97,769 100,000

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 (3,655 )
Revaluation in year 7,000
Reserve transfer (1,330 )

At 31 December 2023 2,015

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Man Ching Tam.