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Registered number: 14460463
GGR Developments Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14460463
30 November 2024 30 November 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,760 -
Investment Properties 5 5,745,000 -
Investments 6 1 -
5,750,761 -
CURRENT ASSETS
Stocks 7 - 1,606,672
Debtors 8 310,698 45,872
Cash at bank and in hand 1,465 69,997
312,163 1,722,541
Creditors: Amounts Falling Due Within One Year 9 (3,739,716 ) (1,722,972 )
NET CURRENT ASSETS (LIABILITIES) (3,427,553 ) (431 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,323,208 (431 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (591,792 ) -
NET ASSETS/(LIABILITIES) 1,731,416 (431 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 1,731,316 (531 )
SHAREHOLDERS' FUNDS 1,731,416 (431)
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gabriel Strauss
Director
29/08/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
GGR Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14460463 . The registered office is 3 Park Valley, Nottingham, NG7 1BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The tax expense for the period comprises deferred tax.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax is recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case deferred tax is recognised in other comprehensive income or directly in equity respectively.
2.7. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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2.8. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.9. Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 December 2023 -
Additions 7,000
As at 30 November 2024 7,000
Depreciation
As at 1 December 2023 -
Provided during the period 1,240
As at 30 November 2024 1,240
Net Book Value
As at 30 November 2024 5,760
As at 1 December 2023 -
5. Investment Property
30 November 2024
£
Fair Value
As at 1 December 2023 -
Additions 3,383,592
Revaluations 2,361,408
As at 30 November 2024 5,745,000
The investment properties have been valued by an independent third party.
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6. Investments
Unlisted
£
Cost
As at 1 December 2023 -
Additions 1
As at 30 November 2024 1
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 1
As at 1 December 2023 -
7. Stocks
30 November 2024 30 November 2023
£ £
Work in progress - 1,606,672
8. Debtors
30 November 2024 30 November 2023
£ £
Due within one year
Other debtors 310,698 45,872
9. Creditors: Amounts Falling Due Within One Year
30 November 2024 30 November 2023
£ £
Trade creditors - 56
Other loans 1,435,000 -
Amounts owed to group undertakings 1,135 -
Amounts owed to participating interests 2,302,728 1,722,241
Other creditors 853 675
3,739,716 1,722,972
10. Secured Creditors
Of the creditors the following amounts are secured by fixed and floating charge over the company's assets.
30 November 2024 30 November 2023
£ £
Bank loans and overdrafts 1,435,000 -
Page 5
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11. Share Capital
30 November 2024 30 November 2023
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
At the year end, an amount of £2,302,728 (2023: £1,722,241) was owed to Pop Ark Limited. 
At the year end, an amount of £1,135 (2023: £Nil) was owed to GGR C1 Limited. 
At the year end, an amount of £276,268 (2023: £Nil) was owed from Lannoy Group Limited.
During the year Lannoy Group Limited provided services totalling £199,321 in relation to the property build costs.
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