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REGISTERED NUMBER: 12469571 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

GILBERT INVESTMENTS LIMITED

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GILBERT INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Gilbert
Ms L V Gilbert





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 12469571 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - 39
Investments 4 34,996,558 34,452,258
34,996,558 34,452,297

CURRENT ASSETS
Debtors 5 13,123,545 12,550,683
Cash at bank 15,493 71,973
13,139,038 12,622,656
CREDITORS
Amounts falling due within one year 6 15,439,908 14,121,383
NET CURRENT LIABILITIES (2,300,870 ) (1,498,727 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,695,688

32,953,570

CREDITORS
Amounts falling due after more than one
year

7

(4,730,000

)

(4,850,000

)

PROVISIONS FOR LIABILITIES (72,617 ) (72,627 )
NET ASSETS 27,893,071 28,030,943

CAPITAL AND RESERVES
Called up share capital 27,598,462 27,598,462
Revaluation reserve 8 217,850 217,850
Retained earnings 76,759 214,631
27,893,071 28,030,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:



R Gilbert - Director


GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Turnover
Turnover represents the following types of income
- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023
and 30 April 2024 165
DEPRECIATION
At 1 May 2023 126
Charge for year 39
At 30 April 2024 165
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 39

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 34,452,258
Additions 622,356
Disposals (78,056 )
At 30 April 2024 34,996,558
NET BOOK VALUE
At 30 April 2024 34,996,558
At 30 April 2023 34,452,258

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2023 290,467
Cost 34,706,091
34,996,558

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gilbert Investments Rentals Limited
Registered office: The Old Casino,28 Fourth Avenue,Hove,East Sussex,BN3 2PJ
Nature of business: Holiday rentals
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 276,786 174,970
Profit/(loss) for the year 132,102 (3,129 )

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. FIXED ASSET INVESTMENTS - continued

Bellows Equestrian Limited
Registered office: The Old Casino,28 Fourth Avenue,Hove,East Sussex,BN3 2PJ
Nature of business: Equestrian Centre
%
Class of shares: holding
Ordinary 100.00
2024 30.4.23
£    £   
Aggregate capital and reserves (1,472,683 ) (961,035 )
Loss for the year (511,648 ) (399,279 )

Swanage Escapes Limited
Registered office: The Old Casino,28 Fourth Avenue,Hove,East Sussex,BN3 2PJ
Nature of business: Holiday rental
%
Class of shares: holding
Ordinary A 100.00
Ordinary B
2024 2023
£    £   
Aggregate capital and reserves 81,619 71,788
Profit for the year 9,831 18,974

Seaside Capital Top Limited
Registered office: Bank House Southwick Square, Southwick, Brighton, England, BN42 4FN
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 50.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

Shoreham Topco Limited
Registered office: 22 Grenville Street, St. Helier, Je4 8px, Jersey
Nature of business: Holding company
%
Class of shares: holding
B Ordinary 27.00
B Preference 30.00
30.11.23 30.11.22
£    £   
Aggregate capital and reserves 86,206,467 86,202,096
Loss for the year (21,629 ) (34,225 )

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,275 1,600
Amounts owed by group undertakings 12,636,224 12,428,656
Other debtors 472,163 107,740
Accruals 8,333 8,333
Prepayments 5,550 4,354
13,123,545 12,550,683

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 330 6,131
Other creditors 235 9
Directors' current accounts 15,361,671 14,027,038
Accruals and deferred income 10,903 12,088
Accrued expenses 66,769 76,117
15,439,908 14,121,383

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 4,730,000 4,850,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,730,000 4,850,000

8. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 217,850

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, R Gilbert & Ms L V Gilbert increased their loan to the company. As at 30 April 2024, the company owed them £15,361,671 (2023: £14,027,038). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

GILBERT INVESTMENTS LIMITED (REGISTERED NUMBER: 12469571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. RELATED PARTY DISCLOSURES

Bellows Equestrian Limited
During the year, Gilbert Investments Limited increased their loan to Bellows Equestrian Limited. As at the year-end, Bellows Equestrian Limited owed Gilbert Investments Limited £2,318,041 (2023: £2,086,605). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Gilbert Investments Rentals Limited
During the year, Gilbert Investments Limited increased their loan to Gilbert Investments Rentals Limited. As at the year-end, Gilbert Investments Rentals Limited owed Gilbert Investments Limited £2,379,491 (2023: £2,378,359). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Sussex 256 Limited
During the year, Gilbert Investments Limited maintained their loan to Sussex 256 Limited. As at the year-end, Sussex 256 Limited owed Gilbert Investments Limited £4,163,625 (2023: £4,163,625). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Seaside Worthing Limited
During the year, Gilbert Investments Limited maintained their loan to Seaside Worthing Limited. As at the year-end, Seaside Worthing Limited owed Gilbert Investments Limited £3,129,468 (2023: £3,129,468). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

Swanage Escapes Limited
During the year, Gilbert Investments Limited decreased their loan to Swanage Escapes Limited. As at the year-end, Swanage Escapes Limited owed Gilbert Investments Limited £645,599 (2023: £670,599). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Gilbert, Mrs L Gilbert and The Gilbert Family Discretionary Trust.

This was by virtue of their 100% holding of the issued share capital.