1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 8,143 1,014 1,629 2,643 5,500 7,129 1,682 224 336 560 1,122 1,458 301,988 12,585 16,129 1,653 329,049 329,049 301,988 xbrli:pure xbrli:shares iso4217:GBP 09854125 2023-12-01 2024-11-30 09854125 2024-11-30 09854125 2023-11-30 09854125 2022-12-01 2023-11-30 09854125 2023-11-30 09854125 2022-11-30 09854125 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-01 2024-11-30 09854125 bus:Director1 2023-12-01 2024-11-30 09854125 core:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 09854125 core:PatentsTrademarksLicencesConcessionsSimilar 2024-11-30 09854125 core:WithinOneYear 2024-11-30 09854125 core:WithinOneYear 2023-11-30 09854125 core:ShareCapital 2024-11-30 09854125 core:ShareCapital 2023-11-30 09854125 core:RetainedEarningsAccumulatedLosses 2024-11-30 09854125 core:RetainedEarningsAccumulatedLosses 2023-11-30 09854125 core:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 09854125 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 09854125 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-11-30 09854125 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-11-30 09854125 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2024-11-30 09854125 core:CostValuation core:Non-currentFinancialInstruments 2024-11-30 09854125 core:Non-currentFinancialInstruments 2024-11-30 09854125 core:Non-currentFinancialInstruments 2023-11-30 09854125 bus:SmallEntities 2023-12-01 2024-11-30 09854125 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 09854125 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 09854125 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 09854125 bus:FullAccounts 2023-12-01 2024-11-30 09854125 core:OfficeEquipment 2023-12-01 2024-11-30 09854125 core:OfficeEquipment 2024-11-30 09854125 core:OfficeEquipment 2023-11-30 09854125 bus:Director1 1 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: 09854125
GH Innovation Ltd
Filleted Unaudited Financial Statements
30 November 2024
GH Innovation Ltd
Financial Statements
Year ended 30 November 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
GH Innovation Ltd
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
5,500
7,129
Tangible assets
6
1,122
1,458
Investments
7
329,049
301,988
---------
---------
335,671
310,575
Current assets
Debtors
8
64,250
385,985
Cash at bank and in hand
273,510
45,996
---------
---------
337,760
431,981
Creditors: amounts falling due within one year
9
1,175
6,374
---------
---------
Net current assets
336,585
425,607
---------
---------
Total assets less current liabilities
672,256
736,182
---------
---------
Net assets
672,256
736,182
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
672,255
736,181
---------
---------
Shareholders funds
672,256
736,182
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GH Innovation Ltd
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 8 July 2025 , and are signed on behalf of the board by:
Mr G Hudson
Director
Company registration number: 09854125
GH Innovation Ltd
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 December 2023 and 30 November 2024
8,143
-------
Amortisation
At 1 December 2023
1,014
Charge for the year
1,629
-------
At 30 November 2024
2,643
-------
Carrying amount
At 30 November 2024
5,500
-------
At 30 November 2023
7,129
-------
6. Tangible assets
Equipment
£
Cost
At 1 December 2023 and 30 November 2024
1,682
-------
Depreciation
At 1 December 2023
224
Charge for the year
336
-------
At 30 November 2024
560
-------
Carrying amount
At 30 November 2024
1,122
-------
At 30 November 2023
1,458
-------
7. Investments
Other investments other than loans
£
Cost
At 1 December 2023
301,988
Additions
12,585
Revaluations
16,129
Other movements
( 1,653)
---------
At 30 November 2024
329,049
---------
Impairment
At 1 December 2023 and 30 November 2024
---------
Carrying amount
At 30 November 2024
329,049
---------
At 30 November 2023
301,988
---------
8. Debtors
2024
2023
£
£
Other debtors
64,250
385,985
--------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,249
Other creditors
1,175
1,125
-------
-------
1,175
6,374
-------
-------
10. Director's advances, credits and guarantees
At the year end the company was owed £62,961 by a director (2023: £51,188). During the year aggregate advances of £80,835 were made to and repayments of £69,961 were made by a director. Interest of £899 was charged on the overdrawn balance.