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Registration number: 11506497

GI UK Group Ltd

Unaudited Financial Statements

for the Period from 1 September 2023 to 31 March 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

GI UK Group Ltd

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

92

92

Current assets

 

Debtors

5

1,932,739

998,121

Cash at bank and in hand

 

782,787

1,112,094

 

2,715,526

2,110,215

Creditors: Amounts falling due within one year

6

(101,167)

(33,484)

Net current assets

 

2,614,359

2,076,731

Net assets

 

2,614,451

2,076,823

Capital and reserves

 

Called up share capital

200

200

Retained earnings

2,614,251

2,076,623

Shareholders' funds

 

2,614,451

2,076,823

For the financial period ending 31 March 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................

R China

Director

Company registration number: 11506497

 

GI UK Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
4 Old Mill Lane
Aylesford
Maidstone
Kent
ME20 7DT

The principal activity of the company is that of an investment holding company.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.


Short period of account

The financial statements relate to the 7 month period from 1 September 2023 to 31 March 2024. The comparatives relate to the year ended 31 August 2023.

Summary of significant accounting policies

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date amounting to £2,614,451.

Having made enquiries the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

 

GI UK Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

Revenue recognition

Turnover comprises the fair value of management services fees received or receivable for services rendered in the ordinary course of the company's activities.

Turnover is shown net of VAT, rebates and discounts.

The company recognises management fees over the period in which the services are provided.

Tax

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

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

GI UK Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company during the period, was 4 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

92

92

Subsidiaries

£

Cost or valuation

At 1 September 2023 and 31 March 2024

92

Carrying amount

At 31 March 2024

92

At 31 August 2023

92

5

Debtors

2024
£

2023
£

Amounts owed by group undertakings

1,914,001

997,726

Other debtors

18,738

395

1,932,739

998,121

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

18,911

2,820

Amounts owed to group undertakings

-

6,088

Taxation and social security

79,387

23,076

Accruals and deferred income

2,200

1,500

Other creditors

669

-

101,167

33,484

 

GI UK Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024

7

Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the statement of financial position is £61,723 (2023: £Nil).

8

Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due between companies wholly owned within the group.