| REGISTERED NUMBER: |
| G & H GROUP OF COMPANIES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| REGISTERED NUMBER: |
| G & H GROUP OF COMPANIES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| G & H GROUP OF COMPANIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Statutory Auditors |
| Glenewes House |
| Gate Way Drive |
| Leeds |
| West Yorkshire |
| LS19 7XY |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors: amounts falling due within one year |
6 |
| Debtors: amounts falling due after more than one year |
6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve | 11 |
| Revaluation reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| G & H Group Of Companies Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound. |
| The financial statements have been prepared using the going concern basis. |
| The current economic conditions present risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
| Based on this assessment, the directors consider that the company maintains an appropriate level of liquidity sufficient to meet the demands of the business including any capital and servicing obligations of external debt liabilities. |
| In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements. |
| Preparation of consolidated financial statements |
| The financial statements contain information about G & H Group Of Companies Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated accounts as it and its subsidiary undertakings are included in the consolidated accounts of its parent, G & H Group Of Companies (Holdings) Limited, Firlands Mill, South Parade, Pudsey, LS28 8AD. These consolidated accounts are available from Companies House. |
| Judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events. However, the nature of estimation means that actual results may differ from these estimates. |
| Key sources of estimation uncertainty |
| Determining appropriate rates of depreciation requires an estimation of the useful lives and expected residual values of fixed assets. The net carrying amount of assets is £482,825 (2023: £487,017). During the year depreciation of £33,442 has been provided.(2023: £33,173). |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Freehold property | - |
| Motor vehicles | - |
| Land and buildings include a freehold property. Land and buildings are carried at their revalued amount, being fair value at the date of valuation less subsequent depreciation. |
| Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive income and included in a revaluation reserve in equity. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit and loss depreciation based on the assets original cost is transferred from revaluation reserve to retained earnings. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised 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 assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss. |
| Basic financial instruments |
| Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
| Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability. |
| Where the arrangement does constitute a financing transaction, e.g. debt with basic terms, the initial measurement is of amortised cost using the effective interest method. In subsequent years the debt instrument is measured at amortised cost less impairment. |
| Impairment |
| At the end of each reporting period the company must assess whether there is objective evidence of impairment of any financial asset held at cost or amortised cost and if there is then an impairment must be recognised immediately in profit or loss. |
| Other financial instruments |
| The company does not have any financial instruments that would not be classed as 'basic'. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Turnover |
| Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and rebates, and is stated net of Value Added Tax. |
| Dividend income |
| Revenue is recognised when the right to receive payment is established. |
| Management charges |
| Revenue is recognised when the right to receive payment is established. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 150,000 (2023 - £ 150,000 ) which is not depreciated. |
| Freehold property was revalued in March 2015 by Eddisons. The company has taken advantage of the exemption available under FRS 102 and has elected to use this valuation taken before the date of transition, as it is fair value at the transition date. |
| The historical cost equivalent of these assets is as follows: |
| 2024 | 2023 |
| £ | £ |
| Cost | 256,125 | 256,125 |
| Accumulated depreciation | (18,575 | ) | (16,806 | ) |
| Net book value | 237,550 | 239,319 |
| As at 31 December 2024 the net book value of motor vehicles held under hire purchase agreements totalled £63,388 (2023: £84,517). |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 6. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 9. | LEASING AGREEMENTS - continued |
| Non-cancellable |
| operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 20,629 | 53,932 |
| The bank loan is due to HSBC Bank Plc, the interest rate applying is 3% above the Bank of England base rate. The loan is repayable by monthly instalments with a final repayment date of 21 March 2025. |
| The commercial mortgage loan is due to HSBC Bank Plc, with the interest rate applying is 2.8% above the Bank of England rate. The loan is repayable by monthly instalments with a final repayment date of 21 April 2028. |
| HSBC UK Bank plc hold a First Legal Charge dated 25 July 2014 over the Freehold Property known as Units 1 & 2 Firlands Mill, South Parade, Pudsey. |
| HSBC UK Bank plc hold a Debenture including a Fixed Charge over all present freehold and leasehold property; a First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a First Floating Charge over all assets and undertaking both present and future dated 21 May 2014. |
| HSBC UK Bank Plc holds a fixed and floating charge over all the company's assets dated 24 April 2023. |
| HSBC UK Bank Plc holds a legal charge secured on the company's freehold property Units 1 & 2 Firlands Mill, South Parade, Pudsey dated 24 April 2023. |
| 11. | RESERVES |
| Capital |
| Retained | redemption | Revaluation |
| earnings | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2024 | 123,087 |
| Profit for the year | - | - |
| Dividends | ( |
) | - | - | ( |
) |
| Transfer equivalent to additional depreciation on revalued assets |
3,231 |
- |
(3,231 |
) |
- |
| At 31 December 2024 | 268,182 |
| G & H GROUP OF COMPANIES LIMITED (REGISTERED NUMBER: 06894672) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES |
| The company is included in Multilateral Guarantees as follows: |
| HSBC UK Bank plc hold an unlimited Multilateral Guarantee dated 15 March 2023 given by G & H Group of Companies (Holdings) Limited, G & H Group of Companies Limited, G & H Building Services Limited and G & H Maintenance Limited. |
| 14. | RELATED PARTY DISCLOSURES |
| The company had transactions with other entities under common control and entities in which the directors had an interest as follows: |
| 2024 | 2023 |
| £ | £ |
| Loans (repaid)/granted | 29,000 | 211,000 |
| Amount due from related parties | 845,000 | 816,000 |
| 15. | POST BALANCE SHEET EVENTS |
| Dividends totalling £315,000 were paid after the accounting date. |