GGC Developments Limited 3591553 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is the development and letting of land at Greenmount Golf Club Digita Accounts Production Advanced 6.30.9574.0 true true true 3591553 2023-12-01 2024-11-30 3591553 2024-11-30 3591553 bus:OrdinaryShareClass1 2024-11-30 3591553 core:CurrentFinancialInstruments 2024-11-30 3591553 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 3591553 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 3591553 core:FurnitureFittings 2024-11-30 3591553 core:LandBuildings core:OwnedOrFreeholdAssets 2024-11-30 3591553 core:PlantMachinery 2024-11-30 3591553 bus:SmallEntities 2023-12-01 2024-11-30 3591553 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 3591553 bus:FilletedAccounts 2023-12-01 2024-11-30 3591553 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 3591553 bus:RegisteredOffice 2023-12-01 2024-11-30 3591553 bus:Director5 2023-12-01 2024-11-30 3591553 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 3591553 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 3591553 core:FurnitureFittings 2023-12-01 2024-11-30 3591553 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 3591553 core:PlantMachinery 2023-12-01 2024-11-30 3591553 1 2023-12-01 2024-11-30 3591553 countries:EnglandWales 2023-12-01 2024-11-30 3591553 2023-11-30 3591553 core:FurnitureFittings 2023-11-30 3591553 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 3591553 core:PlantMachinery 2023-11-30 3591553 2022-12-01 2023-11-30 3591553 2023-11-30 3591553 bus:OrdinaryShareClass1 2023-11-30 3591553 core:CurrentFinancialInstruments 2023-11-30 3591553 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 3591553 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 3591553 core:FurnitureFittings 2023-11-30 3591553 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 3591553 core:PlantMachinery 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3591553

GGC Developments Limited
Annual Report and
Unaudited Financial Statements

30 November 2024

 

GGC Developments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

GGC Developments Limited

Balance Sheet
30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

346,237

359,817

Current assets

 

Debtors

5

8,747

-

Cash at bank and in hand

 

2,924

8,593

 

11,671

8,593

Creditors: Amounts falling due within one year

6

(541,066)

(529,348)

Net current liabilities

 

(529,395)

(520,755)

Total assets less current liabilities

 

(183,158)

(160,938)

Creditors: Amounts falling due after more than one year

6

(7,243)

(12,232)

Net liabilities

 

(190,401)

(173,170)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(190,403)

(173,172)

Shareholders' deficit

 

(190,401)

(173,170)

 

GGC Developments Limited

Balance Sheet
30 November 2024

For the financial 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.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2025 and signed on its behalf by:
 

.........................................
Mr CD Owen
Director

Company Registration Number: 3591553

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Greenmount Golf Club
Greenhalgh Fold Farm
Greenmount, Bury
Lancashire
BL8 4LH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, due to the continued financial support from its parent company, Greenmount Golf Club Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Reducing Balance

Fixtures & Fittings

20% Reducing Balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

291,920

8,330

217,645

517,895

At 30 November 2024

291,920

8,330

217,645

517,895

Depreciation

At 1 December 2023

-

8,330

149,748

158,078

Charge for the year

-

-

13,580

13,580

At 30 November 2024

-

8,330

163,328

171,658

Carrying amount

At 30 November 2024

291,920

-

54,317

346,237

At 30 November 2023

291,920

-

67,897

359,817

Included within the net book value of land and buildings above is £291,920 (2023 - £291,920) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Prepayments

8,747

-

 

8,747

-

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

4,989

10,651

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

535,175

517,549

Taxation and social security

 

152

448

Accruals and deferred income

 

750

700

 

541,066

529,348

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7,243

12,232

 

GGC Developments Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Parent and ultimate parent undertaking

The Company's immediate parent is Greenmount Golf Club, incorporated in England.