2023-01-012023-12-312023-12-31false07415992GGH TRANSPORT 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GGH TRANSPORT LTD

Registered Number
07415992
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

GGH TRANSPORT LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

HOCQUIGNY, Elizabeth Anne
HOCQUIGNY, Gilbert Charles

Registered Address

1 Webb Close
Bordon
GU35 9FP

Registered Number

07415992 (England and Wales)
GGH TRANSPORT LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets371,68899,945
71,68899,945
Current assets
Stocks41,8501,850
Debtors5243,451218,277
Cash at bank and on hand619,874451,450
865,175671,577
Creditors amounts falling due within one year6(132,174)(117,421)
Net current assets (liabilities)733,001554,156
Total assets less current liabilities804,689654,101
Creditors amounts falling due after one year7(14,154)(24,119)
Provisions for liabilities8(16,861)(18,990)
Net assets773,674610,992
Capital and reserves
Called up share capital22
Profit and loss account773,672610,990
Shareholders' funds773,674610,992
The financial statements were approved and authorised for issue by the Board of Directors on 6 September 2024, and are signed on its behalf by:
HOCQUIGNY, Gilbert Charles
Director
Registered Company No. 07415992
GGH TRANSPORT LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and Machinery : 33.33% on the Reducing Balance Basis
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23499,751
Additions5,293
At 31 December 23505,044
Depreciation and impairment
At 01 January 23399,806
Charge for year33,551
Other adjustments(1)
At 31 December 23433,356
Net book value
At 31 December 2371,688
At 31 December 2299,945
4.Stocks

2023

2022

££
Other stocks1,8501,850
Total1,8501,850
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables236,347204,444
Other debtors4,167-
Prepayments and accrued income2,93713,833
Total243,451218,277
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables21,56516,991
Bank borrowings and overdrafts10,47810,139
Taxation and social security100,05990,171
Other creditors72120
Total132,174117,421
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts14,15424,119
Total14,15424,119
Long-Term Creditors constitute aCoronavirus Bounce Back Loan repayable over 5 years after an initial 1 year interest and repayment holiday.
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)16,86118,990
Total16,86118,990