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REGISTERED NUMBER: 10865570 (England and Wales)












GELCO FINANCIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GELCO FINANCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Director: Mr G E Lane





Registered office: 1 Aalborg Place
LANCASTER
LA1 1BJ





Registered number: 10865570 (England and Wales)





Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 3,974 -
Investments 5 1,009,869 994,869
1,013,843 994,869

Current assets
Debtors 6 10,800 477,896
Cash at bank 46,970 8,236
57,770 486,132
Creditors
Amounts falling due within one year 7 108,669 1,609
Net current (liabilities)/assets (50,899 ) 484,523
Total assets less current liabilities 962,944 1,479,392

Creditors
Amounts falling due after more than one
year

8

134,831

263,006
Net assets 828,113 1,216,386

Capital and reserves
Called up share capital 3,203 3,203
Retained earnings 824,910 1,213,183
828,113 1,216,386

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2025 and were signed by:





Mr G E Lane - Director


GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. Statutory information

Gelco Financial 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Gelco Financial Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

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

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
Additions 4,766
At 31 December 2024 4,766
Depreciation
Charge for year 792
At 31 December 2024 792
Net book value
At 31 December 2024 3,974

5. Fixed asset investments
Shares in
group Other
undertakings investments Totals
£    £    £   
Cost
At 1 January 2024 994,869 - 994,869
Additions - 15,000 15,000
At 31 December 2024 994,869 15,000 1,009,869
Net book value
At 31 December 2024 994,869 15,000 1,009,869
At 31 December 2023 994,869 - 994,869

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 10,800 477,896

GELCO FINANCIAL LIMITED (REGISTERED NUMBER: 10865570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Amounts owed to group undertakings 53,000 -
Amounts owed to associates 53,667 -
Other creditors 2,002 1,609
108,669 1,609

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other creditors 134,831 263,006