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REGISTERED NUMBER: 09422409 (England and Wales)




















REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GORELY GROUP LIMITED

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 31 December 2022










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Balance Sheet 8

Company Balance Sheet 9

Notes to the Consolidated Financial Statements 10


GORELY GROUP LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2022







DIRECTORS: Mr S J Gore
Mrs C A S Gore





REGISTERED OFFICE: 88 Wood Street
London
EC2V 7RS





REGISTERED NUMBER: 09422409 (England and Wales)





AUDITORS: Xeinadin Audit Ltd
Becket House
36 Old Jewry
London
EC2R 8DD

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2022


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2022.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of a holding company.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

Mr S J Gore
Mrs C A S Gore

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.


GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2022

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



Mr S J Gore - Director


17 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORELY GROUP LIMITED


Opinion
We have audited the financial statements of Gorely Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2022 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORELY GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORELY GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our objectives in performing the audit are to identify and assess the risk of material misstatement in the financial statements due to fraud and error and to obtain sufficient audit evidence to support this. We also evaluate and respond to the risk of material misstatements.

Audit procedures performed by the engagement team included:

- Understanding the group's current activities, financial position and KPIs.
- Discussing with management and key personnel as to any known or suspected instances of non-compliance with laws and regulations, including fraud.
- Evaluating the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur.
- Gaining an understanding of internal control procedures relevant to the audit in order to design audit procedures that are appropriate, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
- Assessing the appropriateness of accounting policies and the reasonableness of accounting estimates and related disclosures made by the directors.
- Evaluating the overall presentation, structure and content of the financial statements, including disclosures, and whether the financial statements reflect the underlying transactions and events.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nicholas Hume FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd
Becket House
36 Old Jewry
London
EC2R 8DD

18 October 2023

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

CONSOLIDATED INCOME STATEMENT
for the Year Ended 31 December 2022

31.12.22 31.12.21
Notes £    £   

TURNOVER 8,790,698 8,738,719

Cost of sales 5,170,602 4,393,150
GROSS PROFIT 3,620,096 4,345,569

Administrative expenses 1,538,357 1,405,558
2,081,739 2,940,011

Other operating income 4,718 30,855
OPERATING PROFIT 4 2,086,457 2,970,866

Interest receivable and similar income 237 39
2,086,694 2,970,905

Interest payable and similar expenses 30,605 40,427
PROFIT BEFORE TAXATION 2,056,089 2,930,478

Tax on profit 395,350 564,178
PROFIT FOR THE FINANCIAL YEAR 1,660,739 2,366,300

Profit attributable to:
Owners of the parent 1,660,739 2,366,300

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

CONSOLIDATED BALANCE SHEET
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 30,833 51,879
Investments 7 - -
30,833 51,879

CURRENT ASSETS
Debtors 8 3,872,850 4,372,444
Cash at bank 2,571,764 2,063,362
6,444,614 6,435,806
CREDITORS
Amounts falling due within one year 9 3,923,309 3,858,651
NET CURRENT ASSETS 2,521,305 2,577,155
TOTAL ASSETS LESS CURRENT LIABILITIES 2,552,138 2,629,034

CREDITORS
Amounts falling due after more than one
year

10

(490,833

)

(680,833

)

PROVISIONS FOR LIABILITIES (5,858 ) (9,567 )
NET ASSETS 2,055,447 1,938,634

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,055,247 1,938,434
2,055,447 1,938,634

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





Mr S J Gore - Director


GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

COMPANY BALANCE SHEET
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 - -
Investments 7 100 -
100 -

CURRENT ASSETS
Cash at bank 1,156,455 1,305,484

CREDITORS
Amounts falling due within one year 9 100 963,000
NET CURRENT ASSETS 1,156,355 342,484
TOTAL ASSETS LESS CURRENT LIABILITIES 1,156,455 342,484

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,156,355 342,384
1,156,455 342,484

Company's profit for the financial year 2,357,897 1,797,792

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





Mr S J Gore - Director


GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

Gorely Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 79 (2021 - 71 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 79 (2021 - 71 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.22 31.12.21
£    £   
Depreciation - owned assets 24,107 20,231

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


6. TANGIBLE FIXED ASSETS

Group
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 18,564 95,668 114,232
Additions 3,122 855 3,977
Disposals - (25,499 ) (25,499 )
At 31 December 2022 21,686 71,024 92,710
DEPRECIATION
At 1 January 2022 11,594 50,759 62,353
Charge for year 2,396 21,711 24,107
Eliminated on disposal - (24,583 ) (24,583 )
At 31 December 2022 13,990 47,887 61,877
NET BOOK VALUE
At 31 December 2022 7,696 23,137 30,833
At 31 December 2021 6,970 44,909 51,879

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022


7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 100
At 31 December 2022 100
NET BOOK VALUE
At 31 December 2022 100


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.12.22 31.12.21
£    £   
Trade debtors 972,418 1,856,076
Rent Deposits 16,660 16,660
Net wages payable 1,450 -
Directors' current accounts 50 -
VAT 2,371 15,381
Prepayments and accrued income 2,879,901 2,484,327
3,872,850 4,372,444

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Bank loans and overdrafts 190,000 190,000 - -
Trade creditors 281,693 309,802 - -
Tax 480,578 557,953 - -
Social security and other taxes 132,152 156,810 - -
Other creditors - 31,986 - -
Credit cards 29,103 12,138 - -
Intercompany balances - - - 963,000
Pension Contributions payable 12,389 11,678 - -
Directors' current accounts 50 - 100 -
Accruals and deferred income 2,797,344 2,588,284 - -
3,923,309 3,858,651 100 963,000

GORELY GROUP LIMITED (REGISTERED NUMBER: 09422409)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
31.12.22 31.12.21
£    £   
Bank loans - 1-2 years 490,833 680,833