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Company Information
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Contents
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Director's report
for the year ended 31 March 2024
The director presents his annual report and the financial statements of Gira Strategic Finance Limited ('the company') for the year ended 31 March 2024.
The loss for the year, after taxation, amounted to £1,191,245 (2023 - profit £886,220).
Dividends of £nil (2023 - £50,000) were paid during the year.
The director who served during the year was:
The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Director's report (continued)
for the year ended 31 March 2024
The company has chosen in accordance with s.414C(ll) Companies Act 2006 to set out in the company's strategic report
information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the Director's report. It has done so in respect of future developments and financial risk management.
This report was approved by the board on
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Strategic report
for the year ended 31 March 2024
The director presents the Strategic report of Gira Strategic Finance Limited for the year ended 31 March 2024.
The company has continued its focus on the energy & infrastructure sectors and have digital infrastructure. In 2023, GIRA Strategic Finance initiated a focused strategy to build a world-class leadership team composed of top-tier C-level executives with blue-chip experience. This move leverage our successful track record we have built over the years in these two specific sectors:
1. A solar and battery energy platform, targeting utility-scale projects 2. A digital infrastructure platform following the successful project in Switzerland with Safehost. This dual strategy places GIRA at the nexus of Europe’s digital and energy transitions—two defining forces of the next decade. Whereas the company is increasingly selective with its Advisory capabilities, it has strategically decided to focus on platform development with Private equity in energy and digital infrastructure in Western Europe. The company is still headquartered in London and is authorised and regulated in the UK by the Financial Conduct Authority. Advisory Very focused on advising and assisting very selective project developers and/or corporate clients through advising on capital structuring resulting in private placements of equity and debt securities. The company can advise on all aspects of the capital and fundraising processes. Private Equity Platforms - Vision 2023-2026 GIRA positioning is clearly to be recognised as an expert fully integrated developer/operator/investor in solar, battery storage, and data centre infrastructure, delivering scalable, bankable projects across Western Europe. This first phase of investment and capability-building is designed as a two-year plan, set to culminate by end-2025, establishing a solid foundation for a more ambitious strategic expansion beyond that horizon. We have spent 2023 and 2024 building the team and execution skills to be able to deliver the objectives and projects by 2025-2026. The team includes seasoned investment professionals with an exceptional track record of successfully investing across numerous industry cycles. The company leverages financial and industrial expertise to drive value-enhancing outcomes by identifying compelling project development and investment opportunities across the risk/return spectrum. Our approach is underpinned by strong engagement with institutional investors, project developers, and asset owners. These relationships allow us to manufacture and structure institutional-grade, investable projects that meet the rigorous standards of long-term infrastructure investors. Business review The results for the year ended 31 March 2024 of the company were consistent with the management plans and reflects the long cycle time to build platforms, and complete large and complex transactions. The company has invested in developing its team and build its pipeline of opportunities. The results were in line with the expectations of the director and the financial position as at 31 March 2024 of the company was considered satisfactory by the director.
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Strategic report (continued)
for the year ended 31 March 2024
The firm is optimistic regarding the company’s future and will manage the company’s expenses to match with income. The company has appointed 10 seasoned executives as financial and operating partners to support its Origination and Execution activities. These constitute a flexible investment which will support the firm ambitions and in achieving its revenue and profit goals.
The decision to focus on the energy & infrastructure, Digital infrastructure and real assets sectors has been well researched and considered. Renewable energies have become increasingly cost-competitive with conventional generation technologies on an unsubsidised basis, in light of material declines in the pricing of system components and dramatic improvements in efficiency, among other factors. Similarly, the AI and other technologies have driven the world economy and fueling growth as it being the largest mega trend in the next decade at least. GIRA Datacenter Platform is designed to address supply challenges and accelerating demand through expertise in both DCs and power generation The current challenges in Digital infrastructure: - 80 - 100 GW of DC capacity to be built across the world by 2030 of which more than 80% for AI related loads - This would equate to c.10% of the new energy production requirements in the world in the same time horizon - Green energy is needed to reduce the carbon footprint of this new investment GIRA’s unique selling proposition: - GIRA has gathered a team of professionals with expertise in data center with a 100 years of experience and 200 years in energy and renewable power generation development and operations - We are creating integrated solutions in the intersection of renewable generation and DC development and solving for the energy bottle neck - GIRA has been developing a proprietary pipeline - GIRA has flexibility and agility to lead and create innovative Public Private Partnerships having a whole rounded understanding of both sectors The transition to a low-carbon economy creates investment opportunities across the energy sector including generation, flexibility/storage and energy related infrastructure including transmission, interconnectors and data centres. A fundamental re-engineering of the world’s energy system to lower carbon: will require trillions in investment, several decades and will be funded by global capital markets. The company is ideally positioned to take advantage of these trends. The broad infrastructure and real assets sectors are critical to society and are usually supported by government initiatives or are critical infrastructure for their specific clients.
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Strategic report (continued)
for the year ended 31 March 2024
The principal risks affecting the company are originating opportunities and developing relationships across the sector to complete deals as the company executes its growth plans.
Further risks include credit and liquidity risk concerning the payment of outstanding receivable balances and the ability of the company to meet its obligations. Legal and operational risks are considered to have minimal potential impact. Going concern The company has incurred losses during the financial year because of the nature of the investment in the future. Management has undertaken a detailed assessment of the company's financial position, cash flow forecasts, available funding sources to support its pipeline and its growth ambition. While the strategy is being prepared and executed, there remains a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. The director has considered available options and potential outcomes and is confident that the company will meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. The financial statements are therefore prepared on the going concern basis.
The KPIs of the company are the level of income of £105,890 (2023 – £31,500) and the management of actual expenses to budgeted levels. Further KPIs will be defined in line with the highest standards of the industry.
The company aims to be an industry leader in the energy and digital infrastructure sectors, with a focus on long term contracted cash flows and capital appreciation in Europe and, selectively in the Middle East and North Africa. Strategic decisions are made by the director to position the company to achieve this goal in the long term, which we believe is consistent with the best interests of the company and its shareholder.
The director is also the shareholder of the company, he is engaged with the company through reviewing monthly management accounts and receiving regular updates on the progress of the business. Strong client relationships are central to our success. We foster these relationships and maintain a reputation for high standards of business conduct through a detailed assessment of our clients objectives, clear communication and ongoing engagement. We maintain good relationships with our suppliers through transparency and fair dealing. We rely on highly skilled and knowledgeable professionals to deliver our service to our clients. Recruitment and retention of our employees is therefore a critical business activity that we address in part by setting competitive compensation and providing training and career development support to employees. Due to the size of the company, it has minimal direct impact on the community and the environment. However, through its activities to promote investment in renewable energy and support a transition to a lower carbon energy system, these investments will clearly benefit the community and environment.
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Strategic report (continued)
for the year ended 31 March 2024
This report was approved by the board on 6 June 2025 and signed on its behalf by:
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Independent auditor's report to the members of Gira Strategic Finance Limited
for the year ended 31 March 2024
We have audited the financial statements of Gira Strategic Finance Limited ('the company') for the year ended 31 March 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.2 in the financial statements, which describes the company's loss in the year, uncertainty regarding its ability to generate sufficient profits in the future to meeting its obligations as they fall due, and the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report.
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024
Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: How the audit was considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024
We assessed the extent of compliance with the laws and regulations identified above through:
∙making enquiries of management;
∙reviewing legal expenditure throughout the year for any potential litigation or claims; and
∙considering the internal controls in place that are designed to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙determined the susceptibility of the company to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process;
∙reviewed journal entries throughout the year to identify unusual transactions;
∙performed analytical procedures to identify any large, unusual or unexpected transactions and investigated any large variances from the prior year;
∙reviewed accounting estimates and evaluated where judgements or decisions made by management indicated bias on part of the company's management;
∙tested revenue by reviewing the terms of engagement letters between the company and its customers and investigated any material variances to expectations; and
∙carried out substantive testing of expenditure.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024
This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
130 Wood Street
London
EC2V 6DL
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Statement of comprehensive income
for the year ended 31 March 2024
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Statement of financial position
as at
The financial statements were approved and authorised for issue by the board on
The notes on pages 16 to 27 form part of these financial statements.
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Statement of changes in equity
for the year ended 31 March 2024
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Statement of cash flows
for the year ended 31 March 2024
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Notes to the financial statements
for the year ended 31 March 2024
Gira Strategic Limited is a private company limited by shares and was incorporated in England and Wales. Its company registration number is 02286287. The principal place of business is 22 Gilbert Street, London, W1K 5HD. The registered office is c/o Buzzacott, 130 Wood Street, London, EC2V 6DL.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis. However, the company has incurred losses during the financial year because of the nature of the investment in the future.
Management has undertaken a detailed assessment of the company's financial position, cash flow forecasts and available funding sources to support its pipeline and its growth ambition. While the strategy is being perpared and executed, there remains a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. The director has consider considered available options and potential outcomes and believe it is appropriate to prepare the financial statements on a going concern basis. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the company will receive the consideration due under the contract; - stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
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Notes to the financial statements
for the year ended 31 March 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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Notes to the financial statements
for the year ended 31 March 2024
2.Accounting policies (continued)
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
- the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Notes to the financial statements
for the year ended 31 March 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
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Notes to the financial statements
for the year ended 31 March 2024
The whole of the revenue is attributable to the company's principal activity.
Analysis of revenue by country of destination:
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Notes to the financial statements
for the year ended 31 March 2024
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Notes to the financial statements
for the year ended 31 March 2024
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Notes to the financial statements
for the year ended 31 March 2024
10.Taxation (continued)
With effect from 1 April 2023 the rate of corporation tax increased, tapering from 19% for businesses with profits of less than £50,000 to 25% for business with profits over £250,000.
The deferred taxes reflected in these financial statements have been measured at 25% (2022: 25%) being the future tax rate that was substantively enacted at 31 March 2024 that is expected to apply to the reversal of the timing difference. A deferred tax asset of £640,207 (2023: £137,505) has not been recognised due to the uncertainty of future taxable profits.
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Notes to the financial statements
for the year ended 31 March 2024
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Notes to the financial statements
for the year ended 31 March 2024
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Notes to the financial statements
for the year ended 31 March 2024
Profit and loss account
This represents the cumulative profit or loss of the company less any dividends paid.
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Notes to the financial statements
for the year ended 31 March 2024
An analysis of net debt has not been presented as all of the company's cash flows relate to movements in cash and the company has no items to include in such an analysis other than the cash flows in the Statement of cash flows.
There were no contingent liabilities at 31 March 2024 or 31 March 2023.
The company had no capital commitments at 31 March 2024 or 31 March 2023.
The ultimate controlling party is Wissam Anastas.
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