2023-04-012024-03-312024-03-31false01965351GULF FINANCING COMPANY LIMITED2025-01-2168209falseiso4217:GBPxbrli:pure019653512023-04-01019653512024-03-31019653512023-04-012024-03-31019653512022-04-01019653512023-03-31019653512022-04-012023-03-3101965351bus:SmallEntities2023-04-012024-03-3101965351bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3101965351bus:FullAccounts2023-04-012024-03-3101965351bus:PrivateLimitedCompanyLtd2023-04-012024-03-3101965351core:WithinOneYear2024-03-3101965351core:AfterOneYear2024-03-3101965351core:WithinOneYear2023-03-3101965351core:AfterOneYear2023-03-3101965351core:ShareCapital2024-03-3101965351core:SharePremium2024-03-3101965351core:RevaluationReserve2024-03-3101965351core:OtherReservesSubtotal2024-03-3101965351core:RetainedEarningsAccumulatedLosses2024-03-3101965351core:ShareCapital2023-03-3101965351core:SharePremium2023-03-3101965351core:RevaluationReserve2023-03-3101965351core:OtherReservesSubtotal2023-03-3101965351core:RetainedEarningsAccumulatedLosses2023-03-3101965351core:LandBuildings2024-03-3101965351core:PlantMachinery2024-03-3101965351core:Vehicles2024-03-3101965351core:FurnitureFittings2024-03-3101965351core:OfficeEquipment2024-03-3101965351core:NetGoodwill2024-03-3101965351core:IntangibleAssetsOtherThanGoodwill2024-03-3101965351core:ListedExchangeTraded2024-03-3101965351core:UnlistedNon-exchangeTraded2024-03-3101965351core:LandBuildings2023-03-3101965351core:PlantMachinery2023-03-3101965351core:Vehicles2023-03-3101965351core:FurnitureFittings2023-03-3101965351core:OfficeEquipment2023-03-3101965351core:NetGoodwill2023-03-3101965351core:IntangibleAssetsOtherThanGoodwill2023-03-3101965351core:ListedExchangeTraded2023-03-3101965351core:UnlistedNon-exchangeTraded2023-03-3101965351core:LandBuildings2023-04-012024-03-3101965351core:PlantMachinery2023-04-012024-03-3101965351core:Vehicles2023-04-012024-03-3101965351core:FurnitureFittings2023-04-012024-03-3101965351core:OfficeEquipment2023-04-012024-03-3101965351core:NetGoodwill2023-04-012024-03-3101965351core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3101965351core:ListedExchangeTraded2023-04-012024-03-3101965351core:UnlistedNon-exchangeTraded2023-04-012024-03-3101965351core:MoreThanFiveYears2023-04-012024-03-3101965351core:Non-currentFinancialInstruments2024-03-3101965351core:Non-currentFinancialInstruments2023-03-3101965351dpl:CostSales2023-04-012024-03-3101965351dpl:DistributionCosts2023-04-012024-03-3101965351core:LandBuildings2023-04-012024-03-3101965351core:PlantMachinery2023-04-012024-03-3101965351core:Vehicles2023-04-012024-03-3101965351core:FurnitureFittings2023-04-012024-03-3101965351core:OfficeEquipment2023-04-012024-03-3101965351dpl:AdministrativeExpenses2023-04-012024-03-3101965351core:NetGoodwill2023-04-012024-03-3101965351core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3101965351dpl:GroupUndertakings2023-04-012024-03-3101965351dpl:ParticipatingInterests2023-04-012024-03-3101965351dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3101965351core:ListedExchangeTraded2023-04-012024-03-3101965351dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3101965351core:UnlistedNon-exchangeTraded2023-04-012024-03-3101965351dpl:CostSales2022-04-012023-03-3101965351dpl:DistributionCosts2022-04-012023-03-3101965351core:LandBuildings2022-04-012023-03-3101965351core:PlantMachinery2022-04-012023-03-3101965351core:Vehicles2022-04-012023-03-3101965351core:FurnitureFittings2022-04-012023-03-3101965351core:OfficeEquipment2022-04-012023-03-3101965351dpl:AdministrativeExpenses2022-04-012023-03-3101965351core:NetGoodwill2022-04-012023-03-3101965351core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101965351dpl:GroupUndertakings2022-04-012023-03-3101965351dpl:ParticipatingInterests2022-04-012023-03-3101965351dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3101965351core:ListedExchangeTraded2022-04-012023-03-3101965351dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3101965351core:UnlistedNon-exchangeTraded2022-04-012023-03-3101965351core:NetGoodwill2024-03-3101965351core:IntangibleAssetsOtherThanGoodwill2024-03-3101965351core:LandBuildings2024-03-3101965351core:PlantMachinery2024-03-3101965351core:Vehicles2024-03-3101965351core:FurnitureFittings2024-03-3101965351core:OfficeEquipment2024-03-3101965351core:AfterOneYear2024-03-3101965351core:WithinOneYear2024-03-3101965351core:ListedExchangeTraded2024-03-3101965351core:UnlistedNon-exchangeTraded2024-03-3101965351core:ShareCapital2024-03-3101965351core:SharePremium2024-03-3101965351core:RevaluationReserve2024-03-3101965351core:OtherReservesSubtotal2024-03-3101965351core:RetainedEarningsAccumulatedLosses2024-03-3101965351core:NetGoodwill2023-03-3101965351core:IntangibleAssetsOtherThanGoodwill2023-03-3101965351core:LandBuildings2023-03-3101965351core:PlantMachinery2023-03-3101965351core:Vehicles2023-03-3101965351core:FurnitureFittings2023-03-3101965351core:OfficeEquipment2023-03-3101965351core:AfterOneYear2023-03-3101965351core:WithinOneYear2023-03-3101965351core:ListedExchangeTraded2023-03-3101965351core:UnlistedNon-exchangeTraded2023-03-3101965351core:ShareCapital2023-03-3101965351core:SharePremium2023-03-3101965351core:RevaluationReserve2023-03-3101965351core:OtherReservesSubtotal2023-03-3101965351core:RetainedEarningsAccumulatedLosses2023-03-3101965351core:NetGoodwill2022-04-0101965351core:IntangibleAssetsOtherThanGoodwill2022-04-0101965351core:LandBuildings2022-04-0101965351core:PlantMachinery2022-04-0101965351core:Vehicles2022-04-0101965351core:FurnitureFittings2022-04-0101965351core:OfficeEquipment2022-04-0101965351core:AfterOneYear2022-04-0101965351core:WithinOneYear2022-04-0101965351core:ListedExchangeTraded2022-04-0101965351core:UnlistedNon-exchangeTraded2022-04-0101965351core:ShareCapital2022-04-0101965351core:SharePremium2022-04-0101965351core:RevaluationReserve2022-04-0101965351core:OtherReservesSubtotal2022-04-0101965351core:RetainedEarningsAccumulatedLosses2022-04-0101965351core:AfterOneYear2023-04-012024-03-3101965351core:WithinOneYear2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:CostValuation2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3101965351core:Non-currentFinancialInstrumentscore:CostValuation2024-03-3101965351core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-03-3101965351core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3101965351core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3101965351core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3101965351bus:Director12023-04-012024-03-31

GULF FINANCING COMPANY LIMITED

Registered Number
01965351
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

GULF FINANCING COMPANY LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

TOURE CALAME, N'Na Khady, Mme

Registered Address

2 Frederick Street
London
WC1X 0ND

Registered Number

01965351 (England and Wales)
GULF FINANCING COMPANY LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments5430,345430,345
Investment property41,277,0961,277,096
1,707,4411,707,441
Current assets
Debtors4,76916,529
4,76916,529
Creditors amounts falling due within one year6(220,231)(234,457)
Net current assets (liabilities)(215,462)(217,928)
Total assets less current liabilities1,491,9791,489,513
Net assets1,491,9791,489,513
Capital and reserves
Called up share capital1,750,0001,750,000
Revaluation reserve756,340756,340
Profit and loss account(1,014,361)(1,016,827)
Shareholders' funds1,491,9791,489,513
The financial statements were approved and authorised for issue by the Director on 21 January 2025, and are signed on its behalf by:
TOURE CALAME, N'Na Khady, Mme
Director
Registered Company No. 01965351
GULF FINANCING COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Buildings none where lease term is greater than 21 years.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year01
3.Tangible fixed assets
4.Investment property

£
Fair value at 01 April 231,277,096
At 31 March 241,277,096
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 23430,345430,345
At 31 March 24430,345430,345
Net book value
At 31 March 24430,345430,345
At 31 March 23430,345430,345

Notes

1Investments in group undertakings and participating interests
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables216,713230,716
Taxation and social security578987
Accrued liabilities and deferred income2,9402,754
Total220,231234,457
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.