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REGISTERED NUMBER: 01304234 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Gorki Limited

Gorki Limited (Registered number: 01304234)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Gorki Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Ms D Delglyn
Mrs J J Robertson
S H O Moss



REGISTERED OFFICE: 29 Queen Street
Shrewsbury
Shropshire
SY1 2JX



REGISTERED NUMBER: 01304234 (England and Wales)



ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: The Royal Bank of Scotland
The Direct Business Bank
600 Gorgie Road
Edinburgh
Scotland
EH1 13XP

Gorki Limited (Registered number: 01304234)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,452,297 1,522,923

CURRENT ASSETS
Debtors 5 4,938 5,087
Cash at bank 111,077 86,458
116,015 91,545
CREDITORS
Amounts falling due within one year 6 228,653 193,622
NET CURRENT LIABILITIES (112,638 ) (102,077 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,339,659

1,420,846

CREDITORS
Amounts falling due after more than
one year

7

-

(46,575

)

PROVISIONS FOR LIABILITIES (89,420 ) (81,379 )
NET ASSETS 1,250,239 1,292,892

CAPITAL AND RESERVES
Called up share capital 480 480
Fair value reserve 9 259,527 330,154
Retained earnings 990,232 962,258
SHAREHOLDERS' FUNDS 1,250,239 1,292,892

Gorki Limited (Registered number: 01304234)

Statement of Financial Position - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 December 2024 and were signed on its behalf by:





S H O Moss - Director


Gorki Limited (Registered number: 01304234)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Gorki 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised 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 statement of financial position date.


Gorki Limited (Registered number: 01304234)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,522,923
Revaluations (70,626 )
At 31 March 2024 1,452,297
NET BOOK VALUE
At 31 March 2024 1,452,297
At 31 March 2023 1,522,923

If the investment properties had not been revalued they would have been included at the following historical costs:

2024 £1,195,185
2023 £1,195,185

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,452,297

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,938 5,087

Gorki Limited (Registered number: 01304234)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,794 10,487
Taxation and social security 20,338 20,059
Other creditors 161,521 163,076
228,653 193,622

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 46,575

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years - 4,626

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 46,794 57,062

The bank loan is secured by a charge dated 28 January 2014 over the company's investment property at Unit 503 Glanyrafon Industrial Estate, Aberystwyth, Ceredigion.

On 5 January 2018 an additional fixed and floating charge were secured against the property held by the company.

On 11 January 2018 an additional charge was secured against a new bank loan over the company's investment property at 65 High Street, Newport.

Which have all been satisfied on 11th April 2024.

Gorki Limited (Registered number: 01304234)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 330,154
No description (70,627 )

At 31 March 2024 259,527

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,850 (2023 - £32,800) were paid to the directors .

Included within creditors falling due within one year are amounts totalling £95,050 (2023 - £135,194) due to the directors of the company. These amounts are repayable on demand. Interest of £4,832 (2023 - £4,737) was charged to the company on these loans during the year.