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GAWAC INVESTMENT LIMITED

Registered Number
01917414
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

GAWAC INVESTMENT LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

A W Gasiorowski
G W Gasiorowski
W T Gasiorowski

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

01917414 (England and Wales)
GAWAC INVESTMENT LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,565,3902,565,626
2,565,3902,565,626
Current assets
Debtors53,3605,438
Cash at bank and on hand138,68189,862
142,04195,300
Creditors amounts falling due within one year6(112,598)(97,634)
Net current assets (liabilities)29,443(2,334)
Total assets less current liabilities2,594,8332,563,292
Provisions for liabilities7(435,658)(435,658)
Net assets2,159,1752,127,634
Capital and reserves
Called up share capital10,00010,000
Profit and loss account2,149,1752,117,634
Shareholders' funds2,159,1752,127,634
The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2025, and are signed on its behalf by:
A W Gasiorowski
Director
W T Gasiorowski
Director

Registered Company No. 01917414
GAWAC INVESTMENT LIMITED
Notes to the Financial Statements
for the year ended 31 August 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).
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Freehold property is not depreciated in acordance with the revaluation model procedure laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The policy is a departure from the specific requirement of the Companies Act 2006 to provide depreciation on any fixed asset which has a limited useful economic life. The departure from the Companies Act 2006 requirement is for the overriding purpose of giving a true and fair view in accordance with Section 1A of FRS102. Fixtures, fittings and office equipment is used in the company's principal activity for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings7
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 September 232,565,00036,4568,0822,609,538
At 31 August 242,565,00036,4568,0822,609,538
Depreciation and impairment
At 01 September 23-35,8388,07443,912
Charge for year-2288236
At 31 August 24-36,0668,08244,148
Net book value
At 31 August 242,565,000390-2,565,390
At 31 August 232,565,00061882,565,626
4.Revaluation of property, plant and equipment
If freehold property had not been revalued it would have been included at £272,061 (2023: £272,061) historical cost. Freehold property was valued on an open market basis on 31 August 2024 by the directors.
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables120120
Other debtors3,2403,240
Prepayments and accrued income-2,078
Total3,3605,438
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-191
Taxation and social security22,94014,444
Other creditors89,65882,999
Total112,59897,634
7.Provisions for liabilities
Deferred tax on the property revaluation amounted to £435,658 (2023: £435,658).

2024

2023

££
Net deferred tax liability (asset)435,658435,658
Total435,658435,658
8.Related party transactions
During the year, total dividends of £46,000 (2023: £81,000) were paid to the directors.