GME PICO LTD

Company Registration Number:
11001459 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

GME PICO LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

GME PICO LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Investments: 3 4,719,967 4,719,967
Total fixed assets: 4,719,967 4,719,967
Current assets
Creditors: amounts falling due within one year: 4 (24,194) (10,542)
Net current assets (liabilities): (24,194) (10,542)
Total assets less current liabilities: 4,695,773 4,709,425
Total net assets (liabilities): 4,695,773 4,709,425
Capital and reserves
Called up share capital: 4,722,682 4,722,682
Profit and loss account: (26,909) (13,257)
Shareholders funds: 4,695,773 4,709,425

The notes form part of these financial statements

GME PICO LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 September 2024
and signed on behalf of the board by:

Name: D T KASAVANA
Status: Director

The notes form part of these financial statements

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Basis of preparation The financial statements are prepared under the historical cost convention and in accordance with applicable UK accounting standards. The financial statements are presented in Pounds Sterling which is the presentational currency of the Company and rounded to the nearest Pound , unless otherwise stated. Exemptions under small companies regime The directors have taken the exemption available under section 401 of the Companies Act 2006 not to prepare consolidated financial statements on the grounds that it a wholly owned subsidiary and its ultimate parent has published consolidated financial statements which include the results of the Company. The consolidated financial statements of Phoenix Tower US Holdings LP are publicly available and can be obtained from the address given in note 13. Under FRS 102 section 1.12, item (b), the Company is exempt from the requirement to present a cash flow statement on the grounds that its ultimate parent has published a consolidated cash flow statement which includes the cash flows of the Company. The consolidated financial statements of Phoenix Tower US Holdings LP are publicly available and can be obtained from the address given in note 13.The Company is a qualifying entity and has taken advantage of the financial instruments disclosure exemption and the key management personnel compensation disclosure exemption (other than directors' emoluments) under FRS 102 section 1.12, item (c). Under FRS 102, section 33, the Company is exempt from the requirement to disclose related party transactions with entities which are wholly owned within the Phoenix Tower US Holdings LP group. The consolidated financial statements of Phoenix Tower US Holdings LP are publicly available and can be obtained from the address given in note 13. 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. Going concern The Directors have assessed the position of the Company for the next 12 months. The Company is an investment holding company. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements. Foreign currency transactions The functional currency is United States Dollars (USD). Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Investments in subsidiary undertakings The Company's investment in subsidiaries are carried at historical cost less accumulated impairment losses. Impairment reviews are conducted annually by the Directors. 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. 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.

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Fixed investments

Cost or valuation At 1 January 2023 GBP 4,719,967 At 31 December 2023 GBP 4,719,967 Details of undertakings The Company's investments at the Balance Sheet date include the following: Proportion of voting rights and shares held Undertaking Registered office Holding 2023 2022 GME Pico S.R.L. Av. Leandro N. Alem 690, Piso 14 Ciudad Autonoma de Buenos Aires, Argentina Ordinary 99.9% 99.9% The principal activity of GME Pico S.R.L., is the leasing of antenna space on multi-tenant communications towers (“sites”) to wireless services providers.

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

Trade and other payables Trade payables At 31 December 2022 GBP -5,148 At 31 December 2023 GBP 0 Accrued expenses At 31 December 2022 GBP 5,394 At 31 December 2023 GBP 13,805 Accounts payable are payable at various dates in the next three months in accordance with the suppliers' usual and customary credit terms. Accrued expenses are repayable at various dates over the coming months in accordance with the applicable statutory provisions.

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Related party transactions

12. Related party transactions The Company has taken advantage of the exemption under FRS 102 Section 33 "Related Party Transactions" from disclosing transactions with its fellow group companies where 100% of the voting rights are contained within the group.

GME PICO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Post balance sheet events

Post balance sheet events After 31 December 2023, until the date of the completion of the financial statements, no significant event other than those indicated above has occurred, which must be included in the attached financial statements to adequately show the true image of the equity, financial situation, and results of the Company.