These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

GG Hospitality Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Serendipity Labs, 7 Exchange Quay, Salford, Manchester, M5 3EP.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

The Directors have a reasonable expectation that the Company has adequate resources to continue their operations for the foreseeable future. Thus, they continue to adapt the going concern basis in preparing the annual financial statements. true

The company has received written confirmation, from fellow group companies with significant creditor balances, that they will not seek repayment within 12 months from the date the audit report is signed. For this reason the accounts have been prepared on a going concern basis.

As well, the Directors have received a formal letter of support from the wider group, confirming that financial support will be made available, if required, for a period of at least 12 months from the date of signing of these financial statements. This support ensures that the Company will have adequate resources to meet its obligations as they fall due and to continue in operational existence for the foreseeable future.

Having taken all of the above factors into consideration, the Directors have reached a conclusion that the company is able to manage its business risk and operate within existing and future funding facilities for a period of at least twelve months from the date of the approval of the financial statements. Accordingly, the directors consider it to be reasonable to adopt the going concern basis of in preparing the annual financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Computer software is initially measured at cost and subsequently at cost or valuation, net of amortisation and any impairment losses.

Amortisiation is recognised so as to write off the cost of valuation of assets less their useful lives on the following basis, 4 years.

Amortisation methods, useful lives and residual values are reviewed if there is an indication of significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Refer to note 4, showing the intangible fixed assets carrying values impacted by the key accounting estimate.

The average monthly number of persons (including directors) employed by the company during the year was:

The directors receive no remuneration for their services to the company.

A prior year adjustment of £3,998 is included within other debtors, refer to note 13 for further information.

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

The bank loan is secured by the UK Government under the Bounce Back Loan Scheme "BBLS". Interest is charged at a rate of 2.5% and the balance is due for full repayment by May 2026.

Within other creditors is a shareholder loan of £1,282,385 (2023: £1,282,385) which does not bear any interest and is repayable on demand. Further information can be found in Note 11.

A prior year adjustment of £3,998 is included within accruals, refer to note 14 for further information.

The bank loan is secured by the UK Government under the Bounce Back Loan Scheme "BBLS". Interest is charged at a rate of 2.5% and the balance is due for full repayment by May 2026.

The Company’s capital and reserves are as follows:

Called up share capital

Called up share capital represents the nominal value of the shares issued.

Capital redemption reserve

A reserve following the redemption or purchase of a company's own shares.

Profit and loss reserves

The profit and loss account represents cumulative profits and losses net of dividends paid and other

adjustments.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

The Company has taken advantage of the exemption allowed by Financial reporting standard 102, Section 33.1A "Related Party Disclosures" not to disclose details of related party transactions with wholly owned members of the group.

At the balance sheet date, interest free loans totaling £1,282,385 (2023: £1,282,385) remained outstanding due to the immediate parent company, GG Collections Private Limited (Singapore).

At the balance sheet date, interest free loans totaling £28,111 (2023: £28,111) remained outstanding due to Tiger Sports Management Limited, a company related by common directorship and shareholding.

The immediate parent company is GG Collections Private Limited (Singapore).

The ultimate parent company is RSP Topco PTE Limited, a company registered in Singapore. This is the smallest and largest group into which the results of the company is consolidated. The consolidated financial statements of this group are available to the public and may be obtained from its registered office, 20 Collyer Quay, #11-07, Singapore 049319.

The ultimate controlling party is Mr P Lim by virtue of his shareholding in RSP Topco PTE Limited.

During the course of the preparation of the financial statements it has been identified that purchases had not been accounted for in line with accounting standards in administrative expenses being materially understated in the prior year.

During the course of the year, an under accrual of electricity costs totaling £6,394 was identified relating to the prior year.

During the course of the year, it has been identified that invoices had failed to be posted in the correct period.

As above management have performed a review over all other purchases which span across the prior year to ensure no further trade creditors are under provided.

During the year, consultancy fees of £3,998 were identified which should have been accrued in the prior year. These costs are recharged to another party. As such, there is £nil impact on the profit and loss account and an increase in both accruals and other debtors of £3,998 on the balance sheet.