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REGISTERED NUMBER: 12917201 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GG-700-571 Limited

GG-700-571 Limited (Registered number: 12917201)






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-700-571 Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Yuk Sim Law
Po Chuen Poon





SECRETARY: GetGround Secretary Limited





REGISTERED OFFICE: 1 Lyric Square
London
W6 0NB





REGISTERED NUMBER: 12917201 (England and Wales)






GG-700-571 Limited (Registered number: 12917201)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,586 -
Investment property 5 247,000 246,000
249,586 246,000

CURRENT ASSETS
Debtors 6 995 967
Cash at bank 3,708 6,140
4,703 7,107
CREDITORS
Amounts falling due within one year 7 180,233 183,060
NET CURRENT LIABILITIES (175,530 ) (175,953 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,056

70,047

PROVISIONS FOR LIABILITIES 600 11,707
NET ASSETS 73,456 58,340

GG-700-571 Limited (Registered number: 12917201)

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 8 50,720 49,910
Retained earnings 22,636 8,330
73,456 58,340

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.

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 8 June 2024 and were signed on its behalf by:




Yuk Sim Law - Director



Po Chuen Poon - Director


GG-700-571 Limited (Registered number: 12917201)

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

1. STATUTORY INFORMATION

GG-700-571 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.

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-700-571 Limited (Registered number: 12917201)

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
Plant and Computer
machinery equipment Totals
£    £    £   
COST
Additions 500 2,499 2,999
At 31 December 2023 500 2,499 2,999
DEPRECIATION
Charge for year 73 340 413
At 31 December 2023 73 340 413
NET BOOK VALUE
At 31 December 2023 427 2,159 2,586

GG-700-571 Limited (Registered number: 12917201)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 246,000
Revaluations 1,000
At 31 December 2023 247,000
NET BOOK VALUE
At 31 December 2023 247,000
At 31 December 2022 246,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 61,618
Valuation in 2023 1,000
Cost 184,382
247,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 809 791
Prepayments and accrued income 186 176
995 967

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 832 1,406
Directors' current accounts 179,228 181,484
Accruals and deferred income 173 170
180,233 183,060

GG-700-571 Limited (Registered number: 12917201)

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

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 49,910
Revaluation in year 1,000
Reserve transfer (190 )

At 31 December 2023 50,720

9. ULTIMATE CONTROLLING PARTY

There is no single ultimate controlling party.