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Company Registration No. 08794232 (England and Wales)
Grouphug Investments Limited Unaudited accounts for the year ended 28 November 2023
Grouphug Investments Limited Unaudited accounts Contents
Page
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Grouphug Investments Limited Company Information for the year ended 28 November 2023
Director
Dalminder Singh Rai
Company Number
08794232 (England and Wales)
Registered Office
7 BELL YARD LONDON WC2A 2JR
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Grouphug Investments Limited Statement of financial position as at 28 November 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
663,734 
617,952 
Investments
837,537 
660,773 
Cash at bank and in hand
1,754 
17,588 
1,503,025 
1,296,313 
Creditors: amounts falling due within one year
(1,830,518)
(1,658,299)
Net current liabilities
(327,493)
(361,986)
Total assets less current liabilities
(327,493)
(361,986)
Creditors: amounts falling due after more than one year
(39,283)
(41,115)
Net liabilities
(366,776)
(403,101)
Capital and reserves
Called up share capital
300 
300 
Profit and loss account
(367,076)
(403,401)
Shareholders' funds
(366,776)
(403,101)
For the year ending 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
Dalminder Singh Rai Director Company Registration No. 08794232
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Grouphug Investments Limited Notes to the Accounts for the year ended 28 November 2023
1
Statutory information
Grouphug Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 08794232. The registered office is 7 BELL YARD, LONDON, WC2A 2JR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain financial instruments at fair value, in accordance with FRS 102 Section 1A Small Entities. The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
Turnover
Turnover, which is stated net of value added tax, represents fees reeceivable for investment management services and other income arising from continuing acvtivities, and is recognised on an accruals basis, when it becomes receivable. Interest income is recognised on an accruals basis when it becomes receivable.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short­term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Grouphug Investments Limited Notes to the Accounts for the year ended 28 November 2023
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as noncurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
24,000 
- 
Other debtors
639,734 
617,952 
663,734 
617,952 
5
Investments held as current assets
2023 
2022 
£ 
£ 
Listed investments
837,537 
660,773 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,507,324 
1,195,984 
Trade creditors
- 
22,066 
Taxes and social security
5,663 
- 
Other creditors
313,731 
438,349 
Accruals
3,800 
1,900 
1,830,518 
1,658,299 
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Grouphug Investments Limited Notes to the Accounts for the year ended 28 November 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
39,283 
41,115 
8
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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