Silverfin false false 31/12/2024 01/01/2024 31/12/2024 George Griffiths 23/05/2024 Amy Griffiths 23/05/2024 05 June 2025 The principal activity of the Company during the financial year was rental of real estate. 15737256 2024-12-31 15737256 bus:Director1 2024-12-31 15737256 bus:Director2 2024-12-31 15737256 core:CurrentFinancialInstruments 2024-12-31 15737256 core:Non-currentFinancialInstruments 2024-12-31 15737256 core:ShareCapital 2024-12-31 15737256 core:RetainedEarningsAccumulatedLosses 2024-12-31 15737256 2023-12-31 15737256 core:CurrentFinancialInstruments core:Secured 2024-12-31 15737256 core:MoreThanFiveYears 2024-12-31 15737256 bus:OrdinaryShareClass1 2024-12-31 15737256 2024-01-01 2024-12-31 15737256 bus:FilletedAccounts 2024-01-01 2024-12-31 15737256 bus:SmallEntities 2024-01-01 2024-12-31 15737256 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 15737256 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 15737256 bus:Director1 2024-01-01 2024-12-31 15737256 bus:Director2 2024-01-01 2024-12-31 15737256 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 15737256 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 15737256 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15737256 (England and Wales)

GG LEASEHOLD MANAGEMENT LTD

Unaudited Financial Statements
For the financial period ended 31 December 2024
Pages for filing with the registrar

GG LEASEHOLD MANAGEMENT LTD

Unaudited Financial Statements

For the financial period ended 31 December 2024

Contents

GG LEASEHOLD MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
GG LEASEHOLD MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024
£
Fixed assets
Investment property 3 505,000
505,000
Current assets
Debtors 4 2,540
Cash at bank and in hand 4,601
7,141
Creditors: amounts falling due within one year 5 ( 151,785)
Net current liabilities (144,644)
Total assets less current liabilities 360,356
Creditors: amounts falling due after more than one year 6 ( 364,176)
Provision for liabilities 7, 8 ( 15,749)
Net liabilities ( 19,569)
Capital and reserves
Called-up share capital 9 100
Profit and loss account ( 19,669 )
Total shareholder's deficit ( 19,569)

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GG Leasehold Management Ltd (registered number: 15737256) were approved and authorised for issue by the Board of Directors on 05 June 2025. They were signed on its behalf by:

George Griffiths
Director
GG LEASEHOLD MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 December 2024
GG LEASEHOLD MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

GG Leasehold Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 120 Watermoor Point, Watermoor Road, Cirencester, GL7 1LF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 0
Additions 505,000
As at 31 December 2024 505,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

4. Debtors

2024
£
Amounts owed by Group undertakings 100
Other debtors 2,440
2,540

5. Creditors: amounts falling due within one year

2024
£
Bank loans (secured) 6,174
Amounts owed to directors 143,565
Accruals 2,046
151,785

The bank loans are secured by way of a charge on the properties themselves.

6. Creditors: amounts falling due after more than one year

2024
£
Bank loans (secured) 364,176

The bank loans are secured by way of a charge on the properties themselves.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024
£
Bank loans (secured) 343,033

7. Provision for liabilities

2024
£
Deferred tax 15,749

8. Deferred tax

2024
£
At the beginning of financial period 0
Charged to the Statement of Income and Retained Earnings ( 15,749)
At the end of financial period ( 15,749)

9. Called-up share capital

2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

On incorporation, 100 £1 ordinary shares were allotted.

10. Related party transactions

At the period end, the balance owed to the director was £143,565. No interest has been charged and there are no fixed dates for repayment.