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REGISTERED NUMBER: SC521646 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GILARDI HOLDINGS LTD

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GILARDI HOLDINGS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: U Gilardi





REGISTERED OFFICE: 6 Miller Road
Ayr
KA7 2AY





REGISTERED NUMBER: SC521646 (Scotland)





ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,182 4,524
Investment property 5 817,627 618,036
825,809 622,560

CURRENT ASSETS
Debtors 6 537 3,045
Cash at bank and in hand 8,171 160,152
8,708 163,197
CREDITORS
Amounts falling due within one year 7 726,391 681,366
NET CURRENT LIABILITIES (717,683 ) (518,169 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,126

104,391

PROVISIONS FOR LIABILITIES 1,555 860
NET ASSETS 106,571 103,531

CAPITAL AND RESERVES
Called up share capital 8 150 150
Retained earnings 9 106,421 103,381
SHAREHOLDERS' FUNDS 106,571 103,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





U Gilardi - Director


GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gilardi Holdings Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the
Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher
degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the
financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Investment property
Investment property represents the purchase of 44 Dalvennan Avenue, Patna for a cost of £35,000 on the 10th March 2016.

6 Miller Road, Ayr - Purchased in 2019 for a cost of £253,500 plus capitalization of £100,000 in 2019, 70,342 in 2020 and 34,104 in 2021.

Whitlets Shop for cost of £55,000 and Forehill Shop for cost of £70,000 purchased in year 2020.

6 Killoch Place AYR KA7 2EA Purchased in 2023 for a cost of £150,265 plus capitalization of £49,326 in 2023.

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company
recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalent
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 12,317 - - 12,317
Additions - 484 8,500 8,984
At 31 December 2023 12,317 484 8,500 21,301
DEPRECIATION
At 1 January 2023 7,793 - - 7,793
Charge for year 3,080 121 2,125 5,326
At 31 December 2023 10,873 121 2,125 13,119
NET BOOK VALUE
At 31 December 2023 1,444 363 6,375 8,182
At 31 December 2022 4,524 - - 4,524

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 618,036
Additions 199,591
At 31 December 2023 817,627
NET BOOK VALUE
At 31 December 2023 817,627
At 31 December 2022 618,036

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 3,045
Other debtors 537 -
537 3,045

GILARDI HOLDINGS LTD (REGISTERED NUMBER: SC521646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 343,417 365,017
Trade creditors 2,710 3,249
Taxation and social security 824 580
Other creditors 379,440 312,520
726,391 681,366

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary £1 150 150

9. RESERVES
Retained
earnings
£   

At 1 January 2023 103,381
Profit for the year 3,040
At 31 December 2023 106,421

10. RELATED PARTY DISCLOSURES

There is a balance due to the directors of £221,940 as at the 31st December 2023 (2022: £156,270). No interest was charged on this balance and there are no formal repayment terms.

There is a balance due to M Gilardi of £150,000, a shareholder of the company at 31st December 2023 (2022: £150,000). No Interest was charged on this balance and there are no formal repayment terms.

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

11. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr U & Mr G Gilardi throughout the year.