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GAVOTTI SGP LIMITED

Registered Number
09587816
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

GAVOTTI SGP LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

GAVOTTI DUQUE, Eduardo Alexander, Mr.

Company Secretary

GONZALEZ, Antonietta

Registered Address

193 Cottenham Park Road
London
SW20 0SY

Registered Number

09587816 (England and Wales)
GAVOTTI SGP LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments344,674-
44,674-
Current assets
Debtors20,05318,468
Current asset investments476,81264,101
Cash at bank and on hand22,93536,513
119,800119,082
Creditors amounts falling due within one year5(52,701)(49,901)
Net current assets (liabilities)67,09969,181
Total assets less current liabilities111,77369,181
Creditors amounts falling due after one year6(13,121)(9,675)
Provisions for liabilities7(8,679)(8,679)
Net assets89,97350,827
Capital and reserves
Called up share capital5,0005,000
Profit and loss account84,97345,827
Shareholders' funds89,97350,827
The financial statements were approved and authorised for issue by the Director on 26 February 2025, and are signed on its behalf by:
GAVOTTI DUQUE, Eduardo Alexander, Mr.
Director
Registered Company No. 09587816
GAVOTTI SGP LIMITED
Notes to the Financial Statements
for the year ended 31 May 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees
There were no employees during the current or the previous year.

20242023
Average number of employees during the year00
3.Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Other investments1

Total

££
Cost or valuation
Additions44,67444,674
At 31 May 2444,67444,674
Net book value
At 31 May 2444,67444,674
At 31 May 23--

Notes

1Other investments other than loans
4.Current asset investments
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts18,8514,633
Taxation and social security33,85024,716
Other creditors-20,552
Total52,70149,901
The bank loan is taken under the Coronavirus Bounce Back Loan Scheme at a fixed interest rate of 2.5%. The loan term is 72 months and will be repayable in 59 monthly instalments of £332.76 (inclusive of capital and interest), with a final repayment of £332.94 on the final repayment date.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,1219,675
Total13,1219,675
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,6798,679
Total8,6798,679
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
GAVOTTI DUQUE, Eduardo Alexander, Mr.(20,552)88,18966,0521,585
(20,552)88,18966,0521,585
At the year end, the director owed the company £1,585 (2023: £20,552 owed to the director). The balance is included in other debtors.