Acorah Software Products - Accounts Production 16.5.460 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 10264694 V D Goldstein The V Fund Group Limited The V Fund Group Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10264694 2023-09-30 10264694 2024-09-30 10264694 2023-10-01 2024-09-30 10264694 frs-core:CurrentFinancialInstruments 2024-09-30 10264694 frs-core:Non-currentFinancialInstruments 2024-09-30 10264694 frs-core:FurnitureFittings 2024-09-30 10264694 frs-core:FurnitureFittings 2023-10-01 2024-09-30 10264694 frs-core:FurnitureFittings 2023-09-30 10264694 frs-core:MotorVehicles 2024-09-30 10264694 frs-core:MotorVehicles 2023-10-01 2024-09-30 10264694 frs-core:MotorVehicles 2023-09-30 10264694 frs-core:PlantMachinery 2024-09-30 10264694 frs-core:PlantMachinery 2023-10-01 2024-09-30 10264694 frs-core:PlantMachinery 2023-09-30 10264694 frs-core:ShareCapital 2024-09-30 10264694 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 10264694 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10264694 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 10264694 frs-bus:SmallEntities 2023-10-01 2024-09-30 10264694 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10264694 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10264694 1 2023-10-01 2024-09-30 10264694 frs-bus:Director1 2023-10-01 2024-09-30 10264694 frs-bus:Director2 2023-10-01 2024-09-30 10264694 frs-countries:EnglandWales 2023-10-01 2024-09-30 10264694 2022-09-30 10264694 2023-09-30 10264694 2022-10-01 2023-09-30 10264694 frs-core:CurrentFinancialInstruments 2023-09-30 10264694 frs-core:Non-currentFinancialInstruments 2023-09-30 10264694 frs-core:ShareCapital 2023-09-30 10264694 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 10264694
Gi Gi Charters Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors V D Goldstein
The V Fund Group Limited
Company Number 10264694
Registered Office 119 High Road
Loughton
Essex
IG10 4LT
Accountants Jones & Partners Limited
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
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Balance Sheet
Registered number: 10264694
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 920,767
- 920,767
CURRENT ASSETS
Debtors 5 28,388 49,367
Cash at bank and in hand 834 13,920
29,222 63,287
Creditors: Amounts Falling Due Within One Year 6 (864,651 ) (1,270,291 )
NET CURRENT ASSETS (LIABILITIES) (835,429 ) (1,207,004 )
TOTAL ASSETS LESS CURRENT LIABILITIES (835,429 ) (286,237 )
Creditors: Amounts Falling Due After More Than One Year 7 - (113,062 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (184,136 )
NET LIABILITIES (835,429 ) (583,435 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (835,430 ) (583,436 )
SHAREHOLDERS' FUNDS (835,429) (583,435)
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For the year ending 30 September 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.
The financial statements were approved by the board of directors on 30 September 2025 and were signed on its behalf by:
V D Goldstein
Director
30 September 2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gi Gi Charters Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10264694 . The registered office is 119 High Road, Loughton, Essex, IG10 4LT.
The financial statements are presented in Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.
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. Going Concern Disclosure
At 30 September 2024 the company made a loss before tax of £436,130 (2023: £88,835) and has net current liabilities of £835,429 (2023: £583,435).
The directors are closely monitoring the activities of the company and have received confirmation from The V Fund Group Limited, the company's parent entity, that the Group will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover represents yacht rental income receivable. It is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and is recognised on an accruals basis, in the period to which it relates.
2.4. 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:
Plant & Machinery 25% on cost
Motor Vehicles 25% on Reducing Balance
Charter boat Not provided
Charter Boats
Due to the nature of the charter boats and the level of expenditure charged to the profit and loss account to maintain them to a standard for chartering, the residual value of these assets is deemed by the directors to be not materially less than cost and therefore no depreciation is charged in respect of these assets in accordance with the Financial Reporting Standard 102.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, during the year was as follows: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Charter boat Total
£ £ £ £
Cost
As at 1 October 2023 8,431 19,459 920,767 948,657
Disposals (8,431 ) (19,459 ) (920,767 ) (948,657 )
As at 30 September 2024 - - - -
Depreciation
As at 1 October 2023 8,431 19,459 - 27,890
Disposals (8,431 ) (19,459 ) - (27,890 )
As at 30 September 2024 - - - -
Net Book Value
As at 30 September 2024 - - - -
As at 1 October 2023 - - 920,767 920,767
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5. Debtors
2024 2023
£ £
Due within one year
Other debtors 28,388 49,367
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 5,083
Bank loans and overdrafts - 47,493
Amounts owed to group undertakings 864,113 1,214,195
Other creditors 538 3,520
864,651 1,270,291
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 113,062
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Ultimate Controlling Party
The company's ultimate controlling party is The V Fund Group Limited by virtue of his ownership of 100% of the issued share capital in the company.
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