GGN INTL Ltd - Filleted accounts

Registered number

11408001

GGN INTL Ltd

Filleted Accounts

31 December 2024

GGN INTL Ltd
Registered number:		11408001
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		25,371			20,207
Tangible assets	4		289,320			264,579
			314,691			284,786

Current assets
Stocks		2,975,243			2,557,000
Debtors	5	241,607			276,550
Cash at bank and in hand		553,510			58,550
		3,770,360			2,892,100

Creditors: amounts falling due within one year	6	(2,734,707)			(2,597,444)

Net current assets			1,035,653			294,656

Total assets less current liabilities			1,350,344			579,442

Creditors: amounts falling due after more than one year	7		(732,581)			(77,205)

Provisions for liabilities			(20,906)			(20,906)

Net assets			596,857			481,331

Capital and reserves
Called up share capital			100,000			100,000
Profit and loss account			496,857			381,331

Shareholders' funds			596,857			481,331

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr Malkiyat Singh
Director
Approved by the board on 26 September 2025

GGN INTL Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Website and business development costs and trademark are capitalised as intangible assets to the extent that such assets will generate future economic benefit. Research costs are expensed as incurred. Website and business development expenditure is reviewed for impairment annually and such expenditure is amortised over its useful life not exceeding 10 years from the point such assets begin to provide economic benefit.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold buildings			not depreciated
	Leasehold improvements			over the lease term
	Plant and machinery			over 5 years
	Motor vehicles			20% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					21		18


3	Intangible fixed assets							£
	Business development & trademark

	Cost
	At 1 January 2024							33,493
	Additions							9,459
	At 31 December 2024							42,952

	Amortisation
	At 1 January 2024							13,286
	Provided during the year							4,295
	At 31 December 2024							17,581

	Net book value
	At 31 December 2024							25,371
	At 31 December 2023							20,207

	Goodwill is being written off in equal annual instalments over its estimated economic life of.


4	Tangible fixed assets
		Leasehold buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	177,889		114,484		81,530		373,903
	Additions	-		108,521		-		108,521
	At 31 December 2024	177,889		223,005		81,530		482,424

	Depreciation
	At 1 January 2024	51,402		49,221		8,701		109,324
	Charge for the year	26,327		40,065		17,388		83,780
	At 31 December 2024	77,729		89,286		26,089		193,104

	Net book value
	At 31 December 2024	100,160		133,719		55,441		289,320
	At 31 December 2023	126,487		65,263		72,829		264,579


5	Debtors					2024		2023
£							£

	Trade debtors					166,617		170,466
	Rent deposit					74,990		106,084
						241,607		276,550


6	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					5,691		10,266
	Obligations under finance lease and hire purchase contracts					30,775		21,474
	Trade creditors					2,274,503		1,670,376
	Taxation and social security costs					269,977		212,062
	Other creditors					153,761		683,266
						2,734,707		2,597,444


7	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					1,494		4,936
	Obligations under finance lease and hire purchase contracts					81,726		72,269
	Director's account					649,361		-
						732,581		77,205


8	Other information

	GGN INTL Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 5b Tungsten Park
	Colletts Way
	Witney
	England
	OX29 0AX