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REGISTERED NUMBER: 08392276 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

GANTIME LTD

GANTIME LTD (REGISTERED NUMBER: 08392276)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GANTIME LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Y Reichman





SECRETARY: Y Reichman





REGISTERED OFFICE: 10 Glaserton Road
London
N16 5QX





REGISTERED NUMBER: 08392276 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

GANTIME LTD (REGISTERED NUMBER: 08392276)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 517 609
Investment property 5 550,000 550,000
550,517 550,609

CURRENT ASSETS
Debtors 6 223,548 215,967
Cash at bank 4,867 325
228,415 216,292
CREDITORS
Amounts falling due within one year 7 (93,427 ) (88,603 )
NET CURRENT ASSETS 134,988 127,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

685,505

678,298

CREDITORS
Amounts falling due after more than one
year

8

(395,850

)

(395,850

)
NET ASSETS 289,655 282,448

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 257,660 257,660
Retained earnings 12 31,895 24,688
SHAREHOLDERS' FUNDS 289,655 282,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

GANTIME LTD (REGISTERED NUMBER: 08392276)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 27 November 2024 and were signed by:





Y Reichman - Director


GANTIME LTD (REGISTERED NUMBER: 08392276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Gantime Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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.

GANTIME LTD (REGISTERED NUMBER: 08392276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 3,093
DEPRECIATION
At 1 March 2023 2,484
Charge for year 92
At 29 February 2024 2,576
NET BOOK VALUE
At 29 February 2024 517
At 28 February 2023 609

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 550,000
NET BOOK VALUE
At 29 February 2024 550,000
At 28 February 2023 550,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2017 257,660
Cost 292,340
550,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,164 -
Other debtors 221,384 215,967
223,548 215,967

GANTIME LTD (REGISTERED NUMBER: 08392276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors - 471
Taxation and social security 1,712 1,863
Other creditors 91,715 86,269
93,427 88,603

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 9) 395,850 395,850

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 395,850 395,850

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 395,850 395,850

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 395,850 395,850

Long term bank loan is secured by first charge over the company's investment property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

GANTIME LTD (REGISTERED NUMBER: 08392276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 24,688 257,660 282,348
Profit for the year 7,207 7,207
At 29 February 2024 31,895 257,660 289,555

13. RELATED PARTY DISCLOSURES

Other Debtors (Note 9) relates to amounts due from companies connected to the director and his family members. The loans are interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Y Reichman.