GGC Securities Ltd Accounts Cover
GGC Securities Ltd
Company No. 09088764
Directors' Report and Audited Accounts
31 December 2024
GGC Securities Ltd Contents
Pages
Company Information
2
Directors' Report
3
Auditor's Report
4 to 7
Profit and Loss Account
8
Statement of Comprehensive Income
9
Balance Sheet
10
Statement of Changes in Equity
11
Notes to the Accounts
12 to 16
GGC Securities Ltd Company Information
Directors
M.J. Eman
A.J.F. Vecchio
Registered Office
17 Grosvenor Street
Mayfair
London
W1K 4QG
Senior statutory auditor
Gordon Levy BA, FCA
Auditors
Gordon Levy Limited
Suite 5, 4th floor
3 Universal Square
Devonshire Street North
Manchester
M12 6JH
Accountants
FKGB Accounting Ltd
2nd Floor
201 Haverstock Hill
London, NW3 4QG
NW3 4QG
GGC Securities Ltd Directors Report
The Directors present their report and the accounts for the year ended 31 December 2024.
Principal activities
The principal activity of the company during the year under review was financial intermediary services.
Directors
The Directors who served at any time during the year were as follows:
M.J. Eman
A.J.F. Vecchio
Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
*
select suitable accounting policies and then apply them consistently;
*
make judgments and estimates that are reasonable and prudent;
*
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors
The auditors, Gordon Levy Limited, are deemed to be reappointed under Section 487(2) of the Companies Act 2006.
Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
M.J. Eman
Director
27 March 2025
GGC Securities Ltd Audit Report Unqualified
Independent Auditor's Report to the members of GGC Securities Ltd
Opinion
We have audited the accounts of GGC Securities Ltd (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit
for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 1 to the accounts, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibillities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements , we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
• the information given in the directors' report for the financial year for which the accounts are
prepared is consistent with the accounts,
• the directors' report has been prepared in accordance with applicable legal requirements, and
• the comparative figures were not audited.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
• the accounts are not in agreement with the accounting records and returns; or
• certain disclosures of directors’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• the directors were not entitled to prepare the accounts in accordance with the small companies
regime and take advantage of the small companies' exemptions in preparing the directors' report
and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement found in the directors' report, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism through the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement, resulting from fraud is higher than for on resulting for error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
• Conclude on the appropriateness of the directors' use of the going concern basis of accounting, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. We have used professional scepticism throughout the audit and no evidence of fraud was found.
A further description of our responsibilities for the audit of the accounts is located on the FRC's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of this report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Gordon Levy BA, FCA
Senior Statutory Auditor
For and on behalf of Gordon Levy Limited
For and on behalf of Gordon Levy Limited
Statutory Auditors
Suite 5, 4th floor,
3 Universal Square
Devonshire Street North
Manchester
M12 6JH
27 March 2025
GGC Securities Ltd Profit and Loss Account
for the year ended 31 December 2024
2024
2023
(unaudited)
£
£
Turnover
9,041,907
274,568
Cost of Sales
(6,646,576)
(169,076)
Gross profit
2,395,331
105,492
Administrative expenses
(879,027)
(122,340)
Operating profit/(loss)
1,516,304
(16,848)
Other interest receivable
34
-
Interest payable and similar charges
-
(351)
Profit/(Loss) on ordinary activities before taxation
1,516,338
(17,199)
Taxation
(365,641)
-
Profit/(Loss) for the financial year after taxation
1,150,697
(17,199)
GGC Securities Ltd Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME
for the year ended 31 December 2024
2024
2023
(unaudited)
£
£
Profit/(Loss) for the financial year after taxation
1,150,697
(17,199)
Total comprehensive income for the period
1,150,697
(17,199)
GGC Securities Ltd Balance Sheet
at
31 December 2024
Company No.
09088764
Notes
2024
2023
(unaudited)
£
£
Fixed assets
Tangible assets
6
20,9931,339
20,993
1,339
Current assets
Debtors
7
1,420,372
60,075
Cash at bank and in hand
2,386,201
231,564
3,806,573
291,639
Creditors: Amount falling due within one year
8
(2,155,357)
(191,465)
Net current assets
1,651,216
100,174
Total assets less current liabilities
1,672,209
101,513
Net assets
1,672,209
101,513
Capital and reserves
Called up share capital
495,00075,000
Profit and loss account
11
1,177,20926,513
Total equity
1,672,209101,513
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
Approved by the board on 27 March 2025 and signed on its behalf by:
M.J. Eman
Director
27 March 2025
GGC Securities Ltd Statement of Changes in Equity
for the year ended 31 December 2024
Share Capital
Retained earnings
Total equity
£
£
£
At 1 January 2023
75,000
43,712
118,712
Loss for the period
(17,199)
(17,199)
At 31 December 2023 and 1 January 2024
495,000
26,512521,512
Profit for the period
1,150,697
1,150,697
At 31 December 2024
495,000
1,177,2091,672,209
GGC Securities Ltd Notes to the Accounts
for the year ended 31 December 2024
1
General information
GGC Securities Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 09088764
Its registered office is:
17 Grosvenor Street
Mayfair
London
W1K 4QG
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
Going concern
These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.
2
Accounting policies
Turnover
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Operating leases: as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest payable and similar expenses
Interest payable and similar expenses are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Operating profit
2024
2023
(unaudited)
£
£
Operating profit is stated after charging:
Depreciation
7,759
312
Directors remuneration
110,930
68,430
4
Taxation
2024
2023
(unaudited)
£
£
Domestic current year tax
U.K. corporation tax
365,641
-
Current tax charge
365,641
-
5
Employees
2024
2023
(unaudited)
Number
Number
The average monthly number of employees (including directors) during the year was:
52
6
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 January 2024
-5,189-5,189
Additions
7,82914,4135,17027,412
At 31 December 2024
7,82919,6025,17032,601
Depreciation
At 1 January 2024
-3,850-3,850
Charge for the year
1,5664,9001,2927,758
At 31 December 2024
1,5668,7501,29211,608
Net book values
At 31 December 2024
6,26310,8523,87820,993
At 31 December 2023
-
1,339
-
1,339
7
Debtors
2024
2023
(unaudited)
£
£
Trade debtors
722,787-
Group undertakings
611,649-
Prepayments and accrued income
85,936
60,075
1,420,37260,075
8
Creditors:
amounts falling due within one year
2024
2023
(unaudited)
£
£
Trade creditors
1,654,154
16,171
Amounts owed to group undertakings
6,203
167,382
Taxes and social security
388,916
4,802
Other creditors
1,063
1,110
Accruals and deferred income
105,0212,000
2,155,357191,465
9
Leasing agreements
Minimum lease payments fall as follows:
Non-cancellable operating leases
2024
2023
(unaudited)
£
£
Within one year
265,902
-
Between one and five years
873,470
-
10
Share Capital
In the year 420,000 ordinary shares of £1 each were allotted. The total of ordinary shares was 495,000 shares valued at £1 each (2023: total of ordinary shares was 75,000 of £1 each.)
11
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
12
Related party disclosures
Transactions with related parties
The company has taken advantage of the exemption available according with Section 33 of FRS 102 "Related part disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Dorot Capital Limited
The parent's registered office address is:
17 Grosvenor Street
Mayfair
London
United Kingdom
W1K 4QG
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