GHG Real Estate UK Limited 11683049 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is investment in properties. Digita Accounts Production Advanced 6.30.9574.0 true true 11683049 2024-01-01 2024-12-31 11683049 2024-12-31 11683049 bus:Consolidated 2024-12-31 11683049 core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 11683049 core:CurrentFinancialInstruments 2024-12-31 11683049 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11683049 core:FurnitureFittingsToolsEquipment 2024-12-31 11683049 core:LandBuildings 2024-12-31 11683049 bus:SmallEntities 2024-01-01 2024-12-31 11683049 bus:Audited 2024-01-01 2024-12-31 11683049 bus:FilletedAccounts 2024-01-01 2024-12-31 11683049 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11683049 bus:RegisteredOffice 2024-01-01 2024-12-31 11683049 bus:Director1 2024-01-01 2024-12-31 11683049 bus:Director2 2024-01-01 2024-12-31 11683049 bus:Director3 2024-01-01 2024-12-31 11683049 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11683049 core:FurnitureFittings 2024-01-01 2024-12-31 11683049 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 11683049 core:LandBuildings 2024-01-01 2024-12-31 11683049 core:OtherRelatedParties 2024-01-01 2024-12-31 11683049 core:ParentEntities 2024-01-01 2024-12-31 11683049 countries:EnglandWales 2024-01-01 2024-12-31 11683049 2023-12-31 11683049 core:FurnitureFittingsToolsEquipment 2023-12-31 11683049 core:LandBuildings 2023-12-31 11683049 2023-01-01 2023-12-31 11683049 2023-12-31 11683049 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11683049 core:CurrentFinancialInstruments 2023-12-31 11683049 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11683049 core:FurnitureFittingsToolsEquipment 2023-12-31 11683049 core:LandBuildings 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 11683049

Prepared for the registrar
GHG Real Estate UK Limited
Annual Report and Financial Statements
for the Year Ended 31 December 2024

GHG Real Estate UK Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 7

GHG Real Estate UK Limited

Company Information

Directors | F Grasselli G Grasselli G Grasselli

Registered office | Windsor House Bayshill Road Cheltenham GL50 3AT

Auditors | Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

GHG Real Estate UK Limited

(Registration number: 11683049)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 1,900,200 | 1,896,418
Current assets |  |  |
Debtors | 6 | 22,521 | 9,144
Cash at bank and in hand |  | 147,285 | 116,558
|  | 169,806 | 125,702
Creditors: Amounts falling due within one year | 7 | (1,982,869) | (1,955,434)
Net current liabilities |  | (1,813,063) | (1,829,732)
Total assets less current liabilities |  | 87,137 | 66,686
Deferred tax liabilities | 8 | (27,359) | (20,167)
Net assets |  | 59,778 | 46,519
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 59,678 | 46,419
Shareholders' funds |  | 59,778 | 46,519

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 1 August 2025 and signed on its behalf by:

F Grasselli
Director

GHG Real Estate UK Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

The principal place of business is:
Units 8 & 9 Warmley Business Park
Crown Way
Warmley
Bristol
BS30 8FR

| 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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, with support from its parent company and shareholders. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

GHG Real Estate UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures and fittings | 20% straight line

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

GHG Real Estate UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

| 4 | Taxation

At 31 December 2024, the company had taxable losses of £42,417 (2023: £42,417) to carry forward against future trading profits. Deferred tax has been recognised in respect of this as disclosed in note 8.

| 5 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Total £
Cost
At 1 January 2024 | 1,854,941 | 51,739 | 1,906,680
Additions | 14,130 | - | 14,130
At 31 December 2024 | 1,869,071 | 51,739 | 1,920,810
Depreciation
At 1 January 2024 | - | 10,262 | 10,262
Charge for the year | - | 10,348 | 10,348
At 31 December 2024 | - | 20,610 | 20,610
Carrying amount
At 31 December 2024 | 1,869,071 | 31,129 | 1,900,200
At 31 December 2023 | 1,854,941 | 41,477 | 1,896,418

GHG Real Estate UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

| 6 | Debtors

| 2024 £ | 2023 £
Amounts owed by related parties | 18,627 | -
Other debtors | - | 3,212
Prepayments | 3,894 | 5,932
| 22,521 | 9,144

| 7 | Creditors

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 1,809 | 1,506
Amounts due to related parties | 1,969,361 | 1,945,813
Taxation and social security | 434 | -
Accruals and deferred income | 11,265 | 8,115
| 1,982,869 | 1,955,434

| 8 | Deferred tax

Deferred tax assets and liabilities

2024 | Liability £
Fixed asset timing differences | 30,684
| 30,684

2023 | Liability £
Fixed asset timing differences | 30,771
| 30,771

| 9 | Related party transactions

Summary of transactions with parent

At 31 December 2024, GHG Real Estate Limited owed £1,945,000 (2023: £1,945,000) to GHG Real Estate S.R.L., which is the ultimate parent company of GHG Real Estate Limited.
At 31 December 2024, GHG Real Estate Limited was owed £18,627 (2023: £813) by Grasselli UK Limited which is a company under common control of the directors.

Summary of transactions with other related parties

During the year the company charged rent to Grasselli UK Limited of £62,000 (2023 - £57,083). At 31 December 2024, GHG Real Estate Limited was owed £18,627 (2023 - £813) by Grasselli UK Limited. Both companies are under common control of the directors.

| 10 | Parent and ultimate parent undertaking

The company's immediate parent is GHG Real Estate S.R.L., incorporated in Italy.

GHG Real Estate UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

| 11 | Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 1 August 2025 was Scott Lawrence, who signed for and on behalf of Hazlewoods LLP.