ACCOUNTS - Final Accounts preparation

Registered Number:01461583

GCH ASSOCIATES LTD

UNAUDITED

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2025


GCH ASSOCIATES LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GCH ASSOCIATES LTD
FOR THE YEAR ENDED 30 APRIL 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GCH Associates Ltd for the year ended 30 April 2025 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Director of GCH Associates Ltd in accordance with the terms of our engagement letter dated 13 May 2025. Our work has been undertaken solely to prepare for your approval the financial statements of GCH Associates Ltd and state those matters that we have agreed to state to the Director of GCH Associates Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GCH Associates Ltd and its Director for our work or for this report.

It is your duty to ensure that GCH Associates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GCH Associates Ltd . You consider that GCH Associates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GCH Associates Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Scrutton Bland Limited

Chartered Accountants

Fitzroy House

Crown Street

Ipswich

Suffolk

IP1 3LG

12 December 2025

- 1 -


GCH ASSOCIATES LTD REGISTERED NUMBER:01461583

BALANCE SHEET

AS AT 30 APRIL 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		12,176		17,534
Investments	5		1		1
Investment property	6		764,118		764,118
			776,295		781,653
Current assets
Debtors: amounts falling due within one year	7	26,342		47,388
Cash at bank and in hand	8	1,301,257		1,512,647
		1,327,599		1,560,035
Creditors: amounts falling due within one year	9	(237,941)		(419,827)
Net current assets			1,089,658		1,140,208
Total assets less current liabilities			1,865,953		1,921,861

Net assets			1,865,953		1,921,861

Capital and reserves
Called up share capital	11	26,000	26,000
Capital redemption reserve	12	24,000	24,000
Profit and loss account	12	1,815,953	1,871,861
		1,865,953	1,921,861

- 2 -


GCH ASSOCIATES LTD REGISTERED NUMBER:01461583

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2025

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 December 2025.

Mr R J Butler

Director

The notes on pages 6 to 18 form part of these financial statements.

- 3 -

		GCH ASSOCIATES LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 May 2023	26,000	24,000	992,617	1,042,617
Comprehensive income for the year
Profit for the year	-	-	1,043,044	1,043,044
Total comprehensive income for the year	-	-	1,043,044	1,043,044
Contributions by and distributions to owners
Dividends	-	-	(163,800)	(163,800)
Total transactions with owners	-	-	(163,800)	(163,800)

At 1 May 2024	26,000	24,000	1,871,861	1,921,861
Comprehensive income for the year
Profit for the year	-	-	25,992	25,992
Total comprehensive income for the year	-	-	25,992	25,992
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(81,900)	(81,900)
Total transactions with owners	-	-	(81,900)	(81,900)
At 30 April 2025	26,000	24,000	1,815,953	1,865,953

- 4 -

		GCH ASSOCIATES LTD

STATEMENT OF CHANGES IN EQUITY (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2025

The notes on pages 6 to 18 form part of these financial statements.

- 5 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1.	General information

GCH Associates Ltd (the "Company") is a private company limited by shares incorporated and domiciled in England and Wales. The address of its registered office is 2 Water Lane, Bures, Suffolk CO8 5DE.
The Company's principal activities is the holding of investment property.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Functional and presentation currency
The Company's functional and presentational currency is GBP.

2.2

Exemption from preparing consolidated financial statements

The Company and Group qualifies as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

The Director has prepared a cashflow forecast, being a period of at least 12 months from the date of approval of these financial statements, which indicates the Company has sufficient resources available to meet its liabilities as they fall due and to continue to trade in its current form. Accordingly, the Director considers that it is appropriate to prepare the financial statements on a going concern basis.

2.4

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue in the form of rent receivable is recognised on a straight-line basis over the term of the leases to which it relates.

- 6 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.5

Defined contribution pension plan

The Group operates a defined contribution pension scheme for its employees. A defined contribution pension scheme is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as Other Comprehensive Income or to an item recognised directly in equity is also recognised in Other Comprehensive Income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to both their size and incidence.

- 7 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold buildings	-	3 to 5% straight line
Plant and machinery	-	3 to 10 years straight line
Motor vehicles	-	charged according to the age and condition of the vehicle
Fixtures and fittings	-	3 to 5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.10

Investment property

Investment property is carried at fair value, determined annually by the Director. No depreciation is provided. Changes in fair value are recognised in the Consolidated Statement of Comprehensive Income.

- 8 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.11

Investments

Investments in subsidiary undertakings are measured at cost less accumulated impairment charges.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

- 9 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

- 10 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.16

Financial instruments (continued)

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

2.18

Interest income

Interest income is recognised in profit or loss using the effective interest method.

- 11 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

3.	Employees
		2025	2024
		£	£

Wages and salaries	26,470	59,642
Social security costs	638	5,238
Cost of defined contribution scheme	60,000	30,000
	87,108	94,880

The average monthly number of employees, including the Director, during the year was as follows:

	2025	2024
	No.	No.

Administrative	1	2

- 12 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 May 2024	1,345	14,769	25,881	41,995
Additions	-	-	1,073	1,073
Disposals	(1,345)	(1,000)	(20,219)	(22,564)
At 30 April 2025	-	13,769	6,735	20,504
Depreciation
At 1 May 2024	1,345	2,154	20,962	24,461
Charge for the year	-	2,795	2,636	5,431
Disposals	(1,345)	-	(20,219)	(21,564)
At 30 April 2025	-	4,949	3,379	8,328
Net book value
At 30 April 2025	-	8,820	3,356	12,176
At 30 April 2024	-	12,615	4,919	17,534

- 13 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 May 2024	1,295,178
	At 30 April 2025	1,295,178
	Impairment
	At 1 May 2024	1,295,177
	At 30 April 2025	1,295,177
	Net book value
	At 30 April 2025	1
	At 30 April 2024	1

- 14 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

6.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 May 2023	764,118
	At 30 April 2025	764,118

The valuation was made by Mr R J Butler, a Director who is not a professionally qualified valuer, on an open market value for existing use basis. The fair value has been assessed.

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2025	2024
	£	£

Historic cost

780,011

As at 30 April 2025, the Profit and Loss Account reserve includes a £Nil (2024 - £15,893) debit in respect of downward investment property revaluations made in prior years.

Debtors

					2025	2024
					£	£


Other debtors	-	36,679
Prepayments and accrued income	12,121	6,197
Deferred taxation	14,221	4,512
	26,342	47,388

- 15 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,301,257	1,512,647
	1,301,257	1,512,647

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	12,319	-
Amounts owed to group undertakings	1	1
Corporation tax	19,073	95,907
Other taxation and social security	6,998	8,321
Other creditors	40,000	36,733
Accruals and deferred income	159,550	278,865
	237,941	419,827

- 16 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

10.	Deferred taxation

	2025	2024
	£	£

At beginning of year	4,512	7,412
Utilised in year	9,709	(2,900)
At end of year	14,221	4,512

The deferred taxation (asset)/liability is made up as follows:
	2025	2024
	£	£

Accelerated capital allowances	4,221	(791)
Tax losses carried forward	-	1,330
Revaluation of investment property	-	3,973
Short term timing difference	10,000	-
	14,221	4,512

11.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

26,000 ordinary shares of £1 each	26,000	26,000

12.

Reserves

Capital redemption reserve

The Company Capital Redemption Reserve represents the nominal value of the share capital redeemed by the Parent Company in prior periods.

Profit and loss account

The Profit and Loss Account reserve represents the Company's accumulated profits and losses, less dividends paid.

- 17 -


GCH ASSOCIATES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

13.	Pension commitments

The Company operates a defined contributions pension scheme. The pension cost charge for the period represents contributions payable by the Group to the fund and amounted to £60,000 (for the year ended 30 April 2024 - £148,519). Contributions amounting to £Nil (2024 - £Nil) were payable to the fund at the balance sheet date and are included in Other Creditors.

14.Other financial commitments

At 30 April 2023, the Group was committed to purchase consignment stock of £Nil (31 December 2021 - £797,799).
At 30 April 2023, the Group was committed to purchase other vehicles under non-consignment arrangements for £Nil (31 December2021 - £226,464).

15.	Related party transactions
	During the year, the Company declared dividends of £81,900 (2024 - £163,800).

16.	Controlling party

The Company's controlling parties are Mr R J Butler : 1,250 shares, Mrs A Wood and Mr H Butler : 6,167 shares each and the Family Trust : 6,249 shares by virtue of their shareholding in the Company.

- 18 -