Caseware UK (AP4) 2023.0.135 2023.0.135 0true2023-01-01falseNo description of principal activity0falsefalse 09900670 2023-01-01 2023-12-31 09900670 2022-01-01 2022-12-31 09900670 2023-12-31 09900670 2022-12-31 09900670 c:CompanySecretary1 2023-01-01 2023-12-31 09900670 c:Director1 2023-01-01 2023-12-31 09900670 c:Director3 2023-01-01 2023-12-31 09900670 c:Director3 2023-12-31 09900670 c:RegisteredOffice 2023-01-01 2023-12-31 09900670 d:Buildings 2023-01-01 2023-12-31 09900670 d:Buildings 2023-12-31 09900670 d:Buildings 2022-12-31 09900670 d:CurrentFinancialInstruments 2023-12-31 09900670 d:CurrentFinancialInstruments 2022-12-31 09900670 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09900670 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09900670 d:ShareCapital 2023-12-31 09900670 d:ShareCapital 2022-12-31 09900670 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09900670 d:RetainedEarningsAccumulatedLosses 2023-12-31 09900670 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09900670 d:RetainedEarningsAccumulatedLosses 2022-12-31 09900670 d:RetainedEarningsAccumulatedLosses 2022-01-01 09900670 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09900670 c:OrdinaryShareClass1 2023-12-31 09900670 c:OrdinaryShareClass1 2022-12-31 09900670 c:FRS102 2023-01-01 2023-12-31 09900670 c:Audited 2023-01-01 2023-12-31 09900670 c:FullAccounts 2023-01-01 2023-12-31 09900670 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09900670 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09900670










GGF Property Limited










Directors' report and financial statements

For the year ended 31 December 2023

 
GGF Property Limited
 

Company Information


Directors
W J Agnew 
C J Davis 




Company secretary
W J Agnew



Registered number
09900670



Registered office
40 Rushworth Street

London

England

SE1 0RB




Independent auditor
Kreston Reeves LLP
Statutory Auditor & Chartered Accountants

Second Floor

168 Shoreditch High Street

London

E1 6RA





 
GGF Property Limited
 

Contents



Page
Directors' report
1 - 2
Independent auditor's report
3 - 6
Statement of income and retained earnings
7
Balance sheet
8
Notes to the financial statements
9 - 11


 
GGF Property Limited
 

 
Directors' report
For the year ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in directors' reports may differ from legislation in other jurisdictions.

Directors

The directors who served during the year were:

W J Agnew 
C J Davis (appointed 1 September 2023)

Disclosure of information to auditor

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditor

Under section 487(2) of the Companies Act 2006Kreston Reeves LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Page 1

 
GGF Property Limited
 

 
Directors' report (continued)
For the year ended 31 December 2023

Small companies exemptions

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





W J Agnew
Director

Date: 27 August 2024

Page 2

 
GGF Property Limited
 

 
Independent auditor's report to the members of GGF Property Limited
 

Opinion

We have audited the financial statements of GGF Property Limited (the 'company') for the year ended 31 December 2023, which comprise the statement of income and retained earnings, the balance sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual reportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
GGF Property Limited
 

 
Independent auditor's report to the members of GGF Property Limited (continued)


Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:


the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.


Responsibilities of directors

As explained more fully in the directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
GGF Property Limited
 

 
Independent auditor's report to the members of GGF Property Limited (continued)


Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to those that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We considered the extent to which non-compliance might have a material effect on the financial statements. 
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included:
• Discussions with management and assessment of known or suspected instances of non-compliance with     laws and regulations (including health and safety) and fraud, and review of the reports made by     management; and
• Assessment of identified fraud risk factors; and
• Performing analytical procedures to identify any unusual or unexpected relationships, including related    party transactions, that may indicate risks of material misstatement due to fraud; and
• Confirmation of related parties with management, and review of transactions throughout the period to    identify  any  previously  undisclosed transactions with related parties outside the normal course of    business; and
• Reading minutes of meetings of those charged with governance and reviewing correspondence with    relevant tax authorities; and
• Identifying and testing journal entries, in particular any manual entries made at the year end for financial    statement preparation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance


As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:


Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
Page 5

 
GGF Property Limited
 

 
Independent auditor's report to the members of GGF Property Limited (continued)


estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
 
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.


We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.


Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Allan Pinner FCCA (senior statutory auditor)
  
for and on behalf of
Kreston Reeves LLP
 
Statutory Auditor
Chartered Accountants
  
London

27 August 2024
Page 6

 
GGF Property Limited
 

Statement of income and retained earnings
For the year ended 31 December 2023

2023
2022
£
£


Administrative expenses
(4,000)
-

Other operating income
3,800
1,300

Operating (loss)/profit
(200)
1,300

(Loss)/profit before tax
(200)
1,300

Tax on (loss)/profit
-
-

(Loss)/profit after tax
(200)
1,300



Retained earnings at the beginning of the year
1,300
-

(Loss)/profit for the year
(200)
1,300

Retained earnings at the end of the year
1,100
1,300

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of income and retained earnings.

The notes on pages 9 to 11 form part of these financial statements.

Page 7

 
GGF Property Limited
Registered number: 09900670

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
90,718
79,500

Current assets
  

Debtors: amounts falling due within one year
 5 
5,100
1,300

  
5,100
1,300

Creditors: amounts falling due within one year
 6 
(94,716)
(79,498)

Net current liabilities
  
 
 
(89,616)
 
 
(78,198)

  

Net assets
  
1,102
1,302


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
1,100
1,300

  
1,102
1,302


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W J Agnew
Director

Date: 27 August 2024

The notes on pages 9 to 11 form part of these financial statements.

Page 8

 
GGF Property Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

GGF Property Limited is a private company limited by shares and is incorporated in England with the registration number 09900670. The address of the registered office is 40 Rushworth Street, London, England, SE1 0RB.
The principal activity of the company is that of a property holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The financial statements are presented in pound sterling and rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The current economic conditions continue to create uncertainty within the company's operating environment. The company’s forecasts and projections, taking into account possible changes in trading performance arising from this uncertainty, show that the company should be able to operate within the level of its current resources and facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 9

 
GGF Property Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Freehold property is not depreciated, as this relates to land.


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).




4.


Tangible fixed assets





Freehold property

£



Cost


At 1 January 2023
79,500


Additions
11,218



At 31 December 2023

90,718






Net book value



At 31 December 2023
90,718



At 31 December 2022
79,500

Page 10

 
GGF Property Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
5,100
-

Prepayments and accrued income
-
1,300

5,100
1,300



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
94,716
79,498



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1 each
2
2



8.


Contingent liabilities

The company forms a VAT group with Glass and Glazing Federation, Borough IT Limited, G.G.F. Fund Limited, FENSA Limited, British Fenestration Rating Council Limited, GGF Training Ltd, GGFi Limited and Rushworth Inspection Services and Auditing Limited and as such is jointly and severally liable for any liabilities as they fall due. No provision has been made because the directors consider that all parties have the financial resources to meet the liability as it falls due and it is therefore unlikely that this company will incur any additional liability. The total VAT not recognised in the accounts is £548,651 (2022 - £563,011).


9.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group.


10.


Controlling party

The company is a wholly owned subsidiary undertaking of Glass and Glazing Federation, a company incorporated in England.
The company's ultimate parent undertaking is Glass and Glazing Federation. Consolidated financial statements including the results of the company are prepared by Glass and Glazing Federation and are publicly available from the Registrar of Companies. Glass and Glazing Federation is registered at 40 Rushworth Street, London, England, SE1 0RB.


Page 11