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REGISTERED NUMBER: 06397103 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Gotim 1 Limited

Gotim 1 Limited (Registered number: 06397103)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gotim 1 Limited

Company Information
for the year ended 30 June 2024







Directors: A Savory
M Blandford
P Eynon





Secretary: Mrs S Savory





Registered office: Mill House
Lugg Bridge Mill
Worcester Road
Hereford
HR1 3NA





Registered number: 06397103 (England and Wales)





Auditors: Acre Accountancy Limited
Statutory Auditor
Certified Accountants
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Gotim 1 Limited (Registered number: 06397103)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 10,720,000 10,720,000

CREDITORS
Amounts falling due within one year 5 (7,587,449 ) (7,587,449 )
NET CURRENT LIABILITIES (7,587,449 ) (7,587,449 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,132,551

3,132,551

PROVISIONS FOR LIABILITIES (649,959 ) (649,959 )
NET ASSETS 2,482,592 2,482,592

CAPITAL AND RESERVES
Called up share capital 6 1 1
Revaluation reserve 7 2,464,326 2,464,326
Retained earnings 7 18,265 18,265
SHAREHOLDERS' FUNDS 2,482,592 2,482,592

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





A Savory - Director


Gotim 1 Limited (Registered number: 06397103)

Notes to the Financial Statements
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Gotim 1 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 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 as modified by the revaluation of certain assets.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which included the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in the profit and loss account. Movement in fair values are transferred to a revaluation reserve until they become realised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.

Going concern
The company has financial support from its ultimate parent undertaking and continues to have this support for the foreseeable future. As a consequence the directors have a reasonable expectation that the company had adequate financial resources and as such have adopted the going concern basis for the preparation of the annual report and accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Gotim 1 Limited (Registered number: 06397103)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 July 2023
and 30 June 2024 10,720,000
Net book value
At 30 June 2024 10,720,000
At 30 June 2023 10,720,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2011 293,735
Valuation in 2014 (212,000 )
Valuation in 2016 123,112
Valuation in 2017 (197,903 )
Valuation in 2019 1,276,500
Valuation in 2021 470,000
Valuation in 2022 (36,658 )
Valuation in 2023 1,397,500
Cost 7,605,714
10,720,000

The investment properties were measured at their value by Knight Frank LLP, an external UK property consultancy, on 30th August 2023. Fair value is determined by reference to current market conditions.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 7,587,449 7,587,449

As at the year end the parent company owed an amount of £30,653,932 (2023: £29,807,285) to the ultimate parent company which was in part secured on the properties owned by Gotim 1 Limited. The properties held in Gotim 1 Limited form part of an unlimited multilateral guarantee dated 30 June 2021 in favour of the parent company.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

Gotim 1 Limited (Registered number: 06397103)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 18,265 2,464,326 2,482,591
Profit for the year - -
At 30 June 2024 18,265 2,464,326 2,482,591

The revaluation reserve includes all fair value gains/(losses) recognised on investment properties, net of deferred tax.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Anthony Bevan FCCA (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited