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COMPANY REGISTRATION NUMBER: 11914714
GH PARENTS FOUNDATION LTD
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 July 2024
GH PARENTS FOUNDATION LTD
Company Limited by Guarantee
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Current assets
Debtors
5
4,335
Cash at bank and in hand
271,455
196,740
---------
---------
275,790
196,740
Creditors: amounts falling due within one year
6
246,747
167,697
---------
---------
Net current assets
29,043
29,043
--------
--------
Total assets less current liabilities
29,043
29,043
--------
--------
Net assets
29,043
29,043
--------
--------
Capital and reserves
Profit and loss account
29,043
29,043
--------
--------
Members funds
29,043
29,043
--------
--------
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 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GH PARENTS FOUNDATION LTD
Company Limited by Guarantee
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 18 July 2025 , and are signed on behalf of the board by:
L D Cowie
Director
Company registration number: 11914714
GH PARENTS FOUNDATION LTD
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, UK.
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.
Revenue recognition
Turnover represents charity donations received and sums raised from various fund raising events.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Company limited by guarantee
The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member, for— (a) payment of the company’s debts and liabilities contracted before he ceases to be a member, (b) payment of the costs, charges and expenses of winding up, and (c) adjustment of the rights of the contributories among themselves.
5. Debtors
2024
2023
£
£
Trade debtors
4,335
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
246,747
167,697
---------
---------