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Registration number: 13913836

Gaia Finance I Limited

Annual Report and Unaudited Financial Statements

for the Period from 14 February 2022 to 31 December 2022

 

Gaia Finance I Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gaia Finance I Limited

Company Information

Director

Mr Nader Alsalim

Registered office

Great Western Studios
Gaia
65 Alfred Road
London
W2 5EU

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

Gaia Finance I Limited

(Registration number: 13913836)
Balance Sheet as at 31 December 2022

Note

2022
£

Current assets

 

Debtors

4

92,969

Cash at bank and in hand

 

345

 

93,314

Creditors: Amounts falling due within one year

5

(1,426)

Total assets less current liabilities

 

91,888

Creditors: Amounts falling due after more than one year

5

(95,538)

Net liabilities

 

(3,650)

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(3,750)

Shareholders' deficit

 

(3,650)

For the financial period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 September 2023
 

.........................................
Mr Nader Alsalim
Director

 

Gaia Finance I Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Great Western Studios
Gaia
65 Alfred Road
London
W2 5EU
England

These financial statements were authorised for issue by the director on 30 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end the company had net liabilities of £3,650 and it was therefore necessary to conside the appropriateness of preparing the accounts on the going concern basis.

The company is part of a group and the directors of its parent company, Gaia Fertility Limited have confirmed their ongoing support of the company to enable it to meet its financial obligations as they fall due.

It was therefore considered appropriate to prepare the accounts on the going concern basis.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Gaia Finance I Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 December 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

 

Gaia Finance I Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 December 2022

4

Debtors

Note

2022
£

Amounts owed by related parties

7

92,089

Deferred tax assets

880

 

92,969

5

Creditors

Creditors: amounts falling due within one year

2022
£

Due within one year

Accruals and deferred income

1,426

Creditors: amounts falling due after more than one year

Note

2022
£

Due after one year

 

Loans and borrowings

95,538

6

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary of £1 each

100

100

     
 

Gaia Finance I Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 December 2022

7

Related party transactions

Summary of transactions with parent

Gaia Fertility Limited (Co. No. 12009812)
 

Loans to related parties

2022

Parent
£

Total
£

Advanced

128,000

128,000

Repaid

(35,911)

(35,911)

At end of period

92,089

92,089

Terms of loans to related parties

This loan is interest free and due for repayment upon demand.