GHR Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09404542

GHR Developments Limited

Filleted Unaudited Financial Statements

31 December 2024

GHR Developments Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	161,450	127,104

Current assets

Stocks		2,478,571	597,362
Debtors	6	538,094	320,050
Cash at bank and in hand		15,111	748,022
		------------	------------
		3,031,776	1,665,434

Creditors: amounts falling due within one year	7	( 1,954,299)	( 390,891)
		------------	------------
Net current assets		1,077,477	1,274,543
		------------	------------
Total assets less current liabilities		1,238,927	1,401,647

Creditors: amounts falling due after more than one year	8	( 72,749)	( 37,142)

Provisions

Taxation including deferred tax	( 24,104)	( 14,480)
	------------	------------
Net assets	1,142,074	1,350,025
	------------	------------

Capital and reserves

Called up share capital	10	10
Profit and loss account	1,142,064	1,350,015
	------------	------------
Shareholders funds	1,142,074	1,350,025
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GHR Developments Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 19 December 2025 , and are signed on behalf of the board by:

Mr CJ Withey

Director

Company registration number: 09404542

GHR Developments Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 221 High Street, Blackwood, Gwent, NP12 1AL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	20% straight line
Motor Vehicles	-	20% straight line
Equipment	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2023: 5 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	184,475	77,244	16,230	277,949
Additions	76,692	9,990	19,849	106,531
Disposals	( 15,001)	–	–	( 15,001)
	---------	--------	--------	---------
At 31 December 2024	246,166	87,234	36,079	369,479
	---------	--------	--------	---------
Depreciation
At 1 January 2024	108,948	31,970	9,927	150,845
Charge for the year	46,980	19,022	6,182	72,184
Disposals	( 15,000)	–	–	( 15,000)
	---------	--------	--------	---------
At 31 December 2024	140,928	50,992	16,109	208,029
	---------	--------	--------	---------
Carrying amount
At 31 December 2024	105,238	36,242	19,970	161,450
	---------	--------	--------	---------
At 31 December 2023	75,527	45,274	6,303	127,104
	---------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 December 2024	99,214
	--------
At 31 December 2023	59,010
	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	92,598	25,920
Other debtors	445,496	294,130
	---------	---------
	538,094	320,050
	---------	---------

Included within 'Other Debtors' is £263,610 (2023: £231,685) owed by Glynmar Limited; £Nil (2023: £36,720) owed by Fraser Strategic Land Ltd, and £70,000 owed by Springfall Properties Limited. All companies are related parties through common directorship or control. During the year, the outstanding loan balance owed by Fraser Strategic Land Ltd of £37,404 was unrecoverable and written off as a bad debt.

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	121,142	75,221
Corporation tax	17,456	59,658
Social security and other taxes	1,966	8,640
Other creditors	1,803,735	237,372
	------------	---------
	1,954,299	390,891
	------------	---------

Included within 'Other Creditors' are:£1,523,007 (2023: £109,396) owed to Withey Developments Limited, a company of which Mr Christopher Withey and Mrs Bethan Withey are directors. £228,969 (2023: £16,354) owed jointly to the Directors Mr Christopher Withey and Mrs Bethan Withey.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,167	14,167
Other creditors	68,582	22,975
	--------	--------
	72,749	37,142
	--------	--------