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GHVC LIMITED

Registered Number
SC731946
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2024

GHVC LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

GLASPER, Kenneth William
SMITH, Kirsty

Registered Address

12 Trees Park Gardens
Barrhead
Glasgow
G78 1AH

Registered Number

SC731946 (Scotland)
GHVC LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets322,0653,143
22,0653,143
Current assets
Debtors5,17833,371
Cash at bank and on hand29,22166,198
34,39999,569
Creditors amounts falling due within one year4(35,359)(52,917)
Net current assets (liabilities)(960)46,652
Total assets less current liabilities21,10549,795
Provisions for liabilities5(4,192)-
Net assets16,91349,795
Capital and reserves
Called up share capital100100
Profit and loss account16,81349,695
Shareholders' funds16,91349,795
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2025, and are signed on its behalf by:
GLASPER, Kenneth William
Director
Registered Company No. SC731946
GHVC LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
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
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 June 233,6763,676
Additions21,50021,500
At 31 May 2425,17625,176
Depreciation and impairment
At 01 June 23533533
Charge for year2,5782,578
At 31 May 243,1113,111
Net book value
At 31 May 2422,06522,065
At 31 May 233,1433,143
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables478158
Taxation and social security30,52849,091
Other creditors4,3533,668
Total35,35952,917
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,192-
Total4,192-