G & G Investment Properties Ltd 13751979 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is buying, selling and rental of property. Digita Accounts Production Advanced 6.30.9574.0 true true 13751979 2022-12-01 2023-11-30 13751979 2023-11-30 13751979 core:RetainedEarningsAccumulatedLosses 2023-11-30 13751979 core:ShareCapital 2023-11-30 13751979 core:CurrentFinancialInstruments 2023-11-30 13751979 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 13751979 core:Non-currentFinancialInstruments 2023-11-30 13751979 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 13751979 core:LandBuildings 2023-11-30 13751979 bus:SmallEntities 2022-12-01 2023-11-30 13751979 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13751979 bus:FilletedAccounts 2022-12-01 2023-11-30 13751979 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13751979 bus:RegisteredOffice 2022-12-01 2023-11-30 13751979 bus:Director1 2022-12-01 2023-11-30 13751979 bus:Director2 2022-12-01 2023-11-30 13751979 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13751979 core:Buildings 2022-12-01 2023-11-30 13751979 core:LandBuildings 2022-12-01 2023-11-30 13751979 countries:EnglandWales 2022-12-01 2023-11-30 13751979 2022-11-30 13751979 core:LandBuildings 2022-11-30 13751979 2021-11-18 2022-11-30 13751979 2022-11-30 13751979 core:RetainedEarningsAccumulatedLosses 2022-11-30 13751979 core:ShareCapital 2022-11-30 13751979 core:CurrentFinancialInstruments 2022-11-30 13751979 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 13751979 core:Non-currentFinancialInstruments 2022-11-30 13751979 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 13751979 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 13751979

G & G Investment Properties Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

G & G Investment Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

G & G Investment Properties Ltd

Company Information

Directors

M M Gross

V J Gablehaus

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

G & G Investment Properties Ltd

(Registration number: 13751979)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

492,737

191,694

Current assets

 

Cash at bank and in hand

 

1,522

150,169

Creditors: Amounts falling due within one year

5

(285,619)

(341,369)

Net current liabilities

 

(284,097)

(191,200)

Total assets less current liabilities

 

208,640

494

Creditors: Amounts falling due after more than one year

5

(203,940)

-

Net assets

 

4,700

494

Capital and reserves

 

Called up share capital

50

50

Retained earnings

4,650

444

Shareholders' funds

 

4,700

494

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................
M M Gross
Director

.........................................
V J Gablehaus
Director

 
     
 

G & G Investment Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

G & G Investment Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

0% Straight Line

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

G & G Investment Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 December 2022

191,694

191,694

Additions

301,043

301,043

At 30 November 2023

492,737

492,737

Depreciation

Carrying amount

At 30 November 2023

492,737

492,737

At 30 November 2022

191,694

191,694

Included within the net book value of land and buildings above is £492,737 (2022 - £191,694) in respect of long leasehold land and buildings.
 

 

G & G Investment Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

6

137,728

145,713

Taxation and social security

 

987

104

Accruals and deferred income

 

700

600

Other creditors

 

950

950

Director loan account

 

145,254

194,002

 

285,619

341,369

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

203,940

-

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

203,940

-

Current loans and borrowings

2023
£

2022
£

Other borrowings

137,728

145,713