Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Caroline Bailey 20/03/2024 01/08/2023 Amy Griffiths 01/11/2022 George Griffiths 01/04/2021 05 June 2025 The principal activity of the Company during the financial period was the holding of investment properties. 13307814 2024-12-31 13307814 bus:Director1 2024-12-31 13307814 bus:Director2 2024-12-31 13307814 bus:Director3 2024-12-31 13307814 2023-12-31 13307814 core:CurrentFinancialInstruments 2024-12-31 13307814 core:CurrentFinancialInstruments 2023-12-31 13307814 core:ShareCapital 2024-12-31 13307814 core:ShareCapital 2023-12-31 13307814 core:RetainedEarningsAccumulatedLosses 2024-12-31 13307814 core:RetainedEarningsAccumulatedLosses 2023-12-31 13307814 2022-12-31 13307814 bus:OrdinaryShareClass1 2024-12-31 13307814 2024-01-01 2024-12-31 13307814 bus:FilletedAccounts 2024-01-01 2024-12-31 13307814 bus:SmallEntities 2024-01-01 2024-12-31 13307814 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13307814 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13307814 bus:Director1 2024-01-01 2024-12-31 13307814 bus:Director2 2024-01-01 2024-12-31 13307814 bus:Director3 2024-01-01 2024-12-31 13307814 2023-01-01 2023-12-31 13307814 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13307814 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13307814 (England and Wales)

GG COMMERCIAL MANAGEMENT LTD

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

GG COMMERCIAL MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

GG COMMERCIAL MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
GG COMMERCIAL MANAGEMENT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,052,612 1,063,624
2,052,612 1,063,624
Current assets
Debtors 4 64,782 17,122
Cash at bank and in hand 58,555 1,018,704
123,337 1,035,826
Creditors: amounts falling due within one year 5 ( 2,117,339) ( 2,151,866)
Net current liabilities (1,994,002) (1,116,040)
Total assets less current liabilities 58,610 (52,416)
Provision for liabilities 6, 7 ( 11,989) 0
Net assets/(liabilities) 46,621 ( 52,416)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 46,521 ( 52,516 )
Total shareholder's funds/(deficit) 46,621 ( 52,416)

For the financial year 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 Commercial Management Ltd (registered number: 13307814) 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 COMMERCIAL MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
GG COMMERCIAL MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

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

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

General information and basis of accounting

GG Commercial 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 note that the business has net assets of £46,621. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 1,063,624
Additions 1,353,518
Disposals (364,530)
As at 31 December 2024 2,052,612

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

4. Debtors

2024 2023
£ £
Trade debtors 22,492 13,123
Amounts owed by Group undertakings 640 0
Amounts owed by associates 33,305 0
Prepayments 7,643 3,999
Other debtors 702 0
64,782 17,122

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 7,272 2,107
Amounts owed to directors 2,066,535 2,120,000
Accruals and deferred income 41,369 27,746
Taxation and social security 2,163 2,013
2,117,339 2,151,866

6. Provision for liabilities

2024 2023
£ £
Deferred tax 11,989 0

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 11,989) 0
At the end of financial year ( 11,989) 0

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

During the year, the shares previously held by G Griffiths have been transferred to Griffiths Investment Holdings Limited. The transfer has been reflected within the accounts for the year.

9. Related party transactions

During the period the directors maintained a current account with the company. At the period end the company owed the directors £2,066,535 (2023: £2,120,000). Interest was charged at 5%pa until September 2024. After September 2024 this balance was interest free.