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REGISTERED NUMBER: 13814664 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

GHN Sports & Classic Cars Limited

GHN Sports & Classic Cars Limited (Registered number: 13814664)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


GHN Sports & Classic Cars Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G R Nunn
Mrs H L Webb





REGISTERED OFFICE: Building 22 - Bay 6
Dandy Bank Road
Pensnett Trading Estate
Kingswinford
DY6 7TU





REGISTERED NUMBER: 13814664 (England and Wales)





ACCOUNTANTS: Davies Archytas Accountants Ltd
14 The Oaks
Clews Road
Redditch
Worcestershire
B98 7ST

GHN Sports & Classic Cars Limited (Registered number: 13814664)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 627,516 106,285

CURRENT ASSETS
Debtors 18,675 32,800
Cash at bank 1,853 1,753
20,528 34,553
CREDITORS
Amounts falling due within one year 338,747 101,155
NET CURRENT LIABILITIES (318,219 ) (66,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,297

39,683

CREDITORS
Amounts falling due after more than one
year

565,834

86,430
NET LIABILITIES (256,537 ) (46,747 )

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings (256,539 ) (46,749 )
SHAREHOLDERS' FUNDS (256,537 ) (46,747 )

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.

GHN Sports & Classic Cars Limited (Registered number: 13814664)

Abridged Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 January 2025 and were signed on its behalf by:





G R Nunn - Director


GHN Sports & Classic Cars Limited (Registered number: 13814664)

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

1. STATUTORY INFORMATION

GHN Sports & Classic Cars 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.

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.
Motor vehicles - 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

GHN Sports & Classic Cars Limited (Registered number: 13814664)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 123,474
Additions 631,969
At 31 December 2023 755,443
DEPRECIATION
At 1 January 2023 17,189
Charge for year 110,738
At 31 December 2023 127,927
NET BOOK VALUE
At 31 December 2023 627,516
At 31 December 2022 106,285

5. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 620,124 111,943

Hire purchase liabilities are secured upon the assets to which they relate.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2

7. RELATED PARTY DISCLOSURES

The directors and controlling parties are also the directors and controlling parties of GHN Property Limited, GHN Property Developments Limited and Ridgesteel Fabrications Limited.

At the statement of financial position date a loan existed between the company and GHN Property Limited. A balance amounting to £16,175 (2022: £32,800) was owed to the company from GHN Property Limited.

At the statement of financial position date a loan existed between the company and GHN Property Developments Limited. A balance amounting to £81,283 (2022: £6,433) was owed by the company to GHN Property Developments Limited.

At the statement of financial position date a loan existed between the company and Ridgesteel Fabrications Limited. A balance amounting to £1,780 was owed by the company to Ridgesteel Fabrications Limited.

GHN Sports & Classic Cars Limited (Registered number: 13814664)

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

8. CONTROLLING PARTY

The controlling parties are the directors by virtue of their 100% holding of the issued share capital in the company.