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REGISTERED NUMBER: 13230873 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GGC RESIDENTIAL LTD

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

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


GGC RESIDENTIAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G L Davies
C E Fuller





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL





REGISTERED NUMBER: 13230873 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,416 6,801
Investments 5 705,000 705,000
716,416 711,801

CURRENT ASSETS
Debtors 6 50,597 39,888
Cash at bank 21,885 11,641
72,482 51,529
CREDITORS
Amounts falling due within one year 7 274,096 84,855
NET CURRENT LIABILITIES (201,614 ) (33,326 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,802

678,475

CREDITORS
Amounts falling due after more than one
year

8

(507,984

)

(584,962

)

PROVISIONS FOR LIABILITIES 10 (1,292 ) (1,292 )
NET ASSETS 5,526 92,221

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 4,526 91,221
SHAREHOLDERS' FUNDS 5,526 92,221

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 directors acknowledge their 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.

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 9 May 2024 and were signed on its behalf by:





C E Fuller - Director


GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

GGC Residential 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.

Preparation of consolidated financial statements
The financial statements contain information about GGC Residential Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover relates to referral fee income, excluding Value Added Tax.

Referral fee income is recognised in the period the service is provided.

Also included within turnover is the recharge of costs to group companies and is recognised as income in the period the costs were incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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.

Operating lease commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 8,889
Additions 7,480
At 31 December 2023 16,369
DEPRECIATION
At 1 January 2023 2,088
Charge for year 2,865
At 31 December 2023 4,953
NET BOOK VALUE
At 31 December 2023 11,416
At 31 December 2022 6,801

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 705,000
NET BOOK VALUE
At 31 December 2023 705,000
At 31 December 2022 705,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,155 -
Amounts owed by group undertakings 12,399 10,813
Other debtors 35,043 29,075
50,597 39,888

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 11,804 11,827
Amounts owed to group undertakings 224,392 15,183
Taxation and social security 16,556 31,311
Other creditors 21,344 26,534
274,096 84,855

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

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
£    £   
Other creditors 507,984 584,962

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 105,000 -
Between one and five years 373,973 -
478,973 -

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 1,292 1,292

Deferred
tax
£   
Balance at 1 January 2023 1,292
Balance at 31 December 2023 1,292

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 January 2023 91,221
Deficit for the year (86,695 )
At 31 December 2023 4,526

GGC RESIDENTIAL LTD (REGISTERED NUMBER: 13230873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
G L Davies
Balance outstanding at start of year 20,832 667
Amounts advanced 455 20,165
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,287 20,832

C E Fuller
Balance outstanding at start of year 333 333
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 333 333

The loan is charged at 2.0% interest rate, then from 6 April 2023 charged at 2.25% interest rate .