| REGISTERED NUMBER: |
| Gama (Import/Export) Limited |
| Abridged Audited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| Gama (Import/Export) Limited |
| Abridged Audited Financial Statements |
| for the Year Ended 31 March 2025 |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Gama (Import/Export) Limited |
| Company Information |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| & Statutory Auditors |
| 239-241 Kennington Lane |
| London |
| SE11 5QU |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Fair value reserve | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Statement of Financial Position - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Gama (Import/Export) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised at the end of the quarter when the rent accrues and is derived from the ordinary activities of the business. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| 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. |
| 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. |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| The investment property was valued by the directors at 31 March 2025. In the opinion of the directors there has been no significant changes in the value of the investment properties during the period from 01 April 2024 to 31 March 2025. |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2024 | 7,000,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| Under a lease agreement between The Mayor and Burgesses of the London Borough of Enfield and Gama (Import/Export) Limited the property know as Ground Floor, Unit 1 Triangle Works, Claverings Industrial Estate, Edmonton, London N9 0AH, there is an annual rental payment of £166,188 plus VAT for next four years. |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loan | 363,945 | 368,617 |
| Centre Unit 3, Goodwin Road, Edmonton, London N9 0EN |
| 552- Land Charge 1st Party,dated 27/01/2023 and perfected Legal Charge. |
| Unit I, Horizon Business Centre, 84 Goodwin Road, Edmonton, London N9 0BJ |
| 552- Land Charge 1st Party, dated 27/01/2023 and perfected Legal Charge. |
| There are guarantees provided to third parties for the amount of £810,000 and £700,000 respectively. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 913,513 | 913,513 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Balance at 31 March 2025 |
| Included in deferred tax provision is an amount of £913,513 being the tax that will arise should a sale of the investment property result in the fair value gain provided in the accounts. |
| Gama (Import/Export) Limited (Registered number: 02583118) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 20,000 | 20,000 |
| 12. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2024 | 7,179,707 |
| Profit for the year |
| At 31 March 2025 | 7,378,763 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 14. | CONTINGENT LIABILITIES |
| Under a credit arrangement with NatWest Bank plc, there was a cross guarantee and debenture between Gama Plus Limited, Gama Mediterranean Foods Ltd, Sannel Ltd and this company.The balance outstanding at 31 March 2024 was £368,617 (2023 - £395,570). |
| 15. | RELATED PARTY DISCLOSURES |
| Entities with control, joint control or significant influence over the entity |
| During the year company paid management charges of £6,000 (2024 - £10,000) to a related party. |
| During the year Rent and services income totalling of £352,101 (2024 - £347,177) was received from a related parties. |
| 2025 2024 |
| Inter Company debtors £430,763 £432,564 |