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REGISTERED NUMBER: 13598395 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GG-587-650 Limited

GG-587-650 Limited (Registered number: 13598395)






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-587-650 Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Kei Kwan Carol Chan





SECRETARY: GetGround Secretary Limited





REGISTERED OFFICE: 1 Lyric Square
London
W6 0NB





REGISTERED NUMBER: 13598395 (England and Wales)






GG-587-650 Limited (Registered number: 13598395)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 217 326
Investment property 5 460,000 474,652
460,217 474,978

CURRENT ASSETS
Debtors 6 9,838 7,311
Cash at bank 16,233 12,491
26,071 19,802
CREDITORS
Amounts falling due within one year 7 226,865 215,273
NET CURRENT LIABILITIES (200,794 ) (195,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,423

279,507

CREDITORS
Amounts falling due after more than
one year

8

274,281

278,283
NET (LIABILITIES)/ASSETS (14,858 ) 1,224

GG-587-650 Limited (Registered number: 13598395)

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 9 (11,868 ) -
Retained earnings (3,090 ) 1,124
(14,858 ) 1,224

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 director acknowledges his 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 director and authorised for issue on 24 September 2024 and were signed by:





Kei Kwan Carol Chan - Director


GG-587-650 Limited (Registered number: 13598395)

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

1. STATUTORY INFORMATION

GG-587-650 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.
Plant and machinery - 25% on cost

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-587-650 Limited (Registered number: 13598395)

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
machinery
£   
COST
At 1 January 2023
and 31 December 2023 435
DEPRECIATION
At 1 January 2023 109
Charge for year 109
At 31 December 2023 218
NET BOOK VALUE
At 31 December 2023 217
At 31 December 2022 326

GG-587-650 Limited (Registered number: 13598395)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 474,652
Revaluations (14,652 )
At 31 December 2023 460,000
NET BOOK VALUE
At 31 December 2023 460,000
At 31 December 2022 474,652

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 (14,652 )
Cost 474,652
460,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 2,191 4,300
Deferred tax asset 2,784 -
Prepayments and accrued income 4,863 3,011
9,838 7,311

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 374 374
Directors' current accounts 204,403 196,770
Accruals and deferred income 22,088 18,129
226,865 215,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans more 5 yrs non-inst 274,281 278,283

GG-587-650 Limited (Registered number: 13598395)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 274,281 278,283

9. RESERVES
Fair
value
reserve
£   
Revaluation in year (14,652 )
Reserve transfer 2,784

At 31 December 2023 (11,868 )

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kei Kwan Carol Chan.