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Gira Strategic Finance Limited
























Annual report and financial statements



for the year ended 31 March 2024



Registered number: 02286287

 
Gira Strategic Finance Limited


Company Information


Director
Wissam Anastas 




Registered number
02286287



Registered office
C/O Buzzacott LLP
130 Wood Street

London

EC2V 6DL




Independent auditor
Buzzacott Audit LLP

130 Wood Street

London

EC2V 6DL





 
Gira Strategic Finance Limited


Contents



Page
Director's report
 
1 - 2
Strategic report
 
3 - 6
Independent auditor's report
 
7 - 11
Statement of comprehensive income
 
12
Statement of financial position
 
13
Statement of changes in equity
 
14
Statement of cash flows
 
15
Notes to the financial statements
 
16 - 27


 
Gira Strategic Finance Limited

 
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.

Results and dividends

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.

Director

The director who served during the year was:

Wissam Anastas 

Director's responsibilities statement

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 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 2006He 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.

Page 1

 
Gira Strategic Finance Limited
 
Director's report (continued)
for the year ended 31 March 2024


Matters covered in the Strategic report

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.

Disclosure of information to auditor

The director at the time when this Director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board on 6 June 2025 and signed on its behalf by:
 





Wissam Anastas
Director

Page 2

 
Gira Strategic Finance Limited


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.

Principal activities
 
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.

Page 3

 
Gira Strategic Finance Limited


Strategic report (continued)
for the year ended 31 March 2024

Future prospects and outlook for the coming year

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.

Page 4

 
Gira Strategic Finance Limited


Strategic report (continued)
for the year ended 31 March 2024

Principal risks and uncertainties
 
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. 

Financial key performance indicators
 
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.

Director's statement of compliance with duty to promote the success of the company
 
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.

Page 5

 
Gira Strategic Finance Limited


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:



Wissam Anastas
Director

Page 6

 
 
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Independent auditor's report to the members of Gira Strategic Finance Limited
for the year ended 31 March 2024

Opinion


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 policiesThe 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).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


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.


Material uncertainty related to going concern


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.


Page 7

 
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024

Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

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.


Matters on which we are required to report by exception
 

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.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 8

 
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024

Responsibilities of directors
 

As explained more fully in the Director's responsibilities statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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:

the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, including knowledge specific to auditing investment advisory firms; 
we made enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual and suspected and alleged fraud;
we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the company through discussions with directors and other management at the planning stage, and from our knowledge and experience of investment advisory firms;
the audit team held a discussion to identify any particular areas that were considered to be susceptible to misstatement, including with respect to fraud and non-compliance with laws and regulations; and 
we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including Companies Act 2006, The Financial Services and Markets Act 2000, employment legislation, and taxation legislation.


Page 9

 
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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 (continued)
 

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.


Page 10

 
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Independent auditor's report to the members of Gira Strategic Finance Limited (continued)
for the year ended 31 March 2024

Use of our report
 

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our 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.





Katherine White (Senior statutory auditor)
for and on behalf of
Buzzacott Audit LLP
Statutory Auditor
130 Wood Street
London
EC2V 6DL

6 June 2025
Page 11

 
Gira Strategic Finance Limited


Statement of comprehensive income
for the year ended 31 March 2024

2024
2023
Note
£
£

  

Revenue
 4 
105,890
31,500

Gross profit
  
105,890
31,500

Administrative expenses
  
(994,635)
(563,547)

Other operating income
 5 
-
1,420,767

Operating (loss)/profit
 6 
(888,745)
888,720

Tax on (loss)/profit
 10 
(302,500)
(2,500)

(Loss)/profit for the financial year
  
(1,191,245)
886,220


All amounts relate to continuing operations. 

There was no other comprehensive income for 2024 or 2023.

The notes on pages 16 to 27 form part of these financial statements.

Page 12

 
Gira Strategic Finance Limited - Registered number: 02286287

Statement of financial position
as at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
9,490
-

Investments
 13 
100
-

  
9,590
-

Current assets
  

Debtors
 14 
65,395
383,893

Cash at bank and in hand
 15 
54,982
894,939

  
120,377
1,278,832

Creditors: amounts falling due within one year
 16 
(104,464)
(62,084)

Net current assets
  
 
 
15,913
 
 
1,216,748

Total assets less current liabilities
  
25,503
1,216,748

  

Net assets
  
25,503
1,216,748


Capital and reserves
  

Called up share capital 
 18 
498,400
498,400

Profit and loss account
 19 
(472,897)
718,348

  
25,503
1,216,748


The financial statements were approved and authorised for issue by the board on 6 June 2025 and were signed on its behalf by: 




Wissam Anastas
Director

The notes on pages 16 to 27 form part of these financial statements.

Page 13

 
Gira Strategic Finance Limited


Statement of changes in equity
for the year ended 31 March 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
498,400
(117,872)
380,528



Profit for the year
-
886,220
886,220


Contributions by and distributions to owners

Dividends
-
(50,000)
(50,000)



At 1 April 2023
498,400
718,348
1,216,748



Loss for the year
-
(1,191,245)
(1,191,245)


At 31 March 2024
498,400
(472,897)
25,503


The notes on pages 16 to 27 form part of these financial statements.

Page 14

 
Gira Strategic Finance Limited


Statement of cash flows
for the year ended 31 March 2024

2024
2023
£
£

Cash flows from operating activities

(Loss)/profit for the financial year
(1,191,245)
886,220

Adjustments for:

Depreciation of tangible assets
3,835
769

Taxation charge
302,500
2,500

Increase in debtors
15,998
(61,472)

Increase in creditors
42,280
30,200

Net cash from operating activities

(826,632)
858,217


Cash flows from investing activities

Purchase of tangible fixed assets
(13,325)
-

Net cash from investing activities

(13,325)
-

Cash flows from financing activities

Dividends paid
-
(50,000)

Net cash used in financing activities
-
(50,000)

Net (decrease)/increase in cash and cash equivalents
(839,957)
808,217

Cash and cash equivalents at beginning of year
894,939
86,722

Cash and cash equivalents at the end of year
54,982
894,939


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
54,982
894,939


The notes on pages 16 to 27 form part of these financial statements.

Page 15

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

1.


General information

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

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

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. 



 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, taking into account discounts, rebates, value added tax and other sales taxes.
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.

Page 16

 
Gira Strategic Finance Limited

Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Page 17

 
Gira Strategic Finance Limited

Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Office furniture
-
33%
life of office lease
Computer equipment
-
33%

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.

Page 18

 
Gira Strategic Finance Limited

Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment. Any impairment loss is recognised in profit or loss. 

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short term creditors are measured at the transaction price. 

 
2.14

Financial instruments

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.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
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.

Page 19

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenue and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The director does not consider there to be any critical judgements or key sources of estimation uncertainty involved in the preparation of the company's financial statements.


4.


Revenue

The whole of the revenue is attributable to the company's principal activity.

Analysis of revenue by country of destination:

2024
2023
£
£

United Kingdom
50,890
31,500

Rest of the world
55,000
-

105,890
31,500



5.


Other operating income

2024
2023
£
£

Other operating income
-
1,420,767


Included within other operating income are amounts relating to a settlement fee of £nil (2023 - £1,420,767).
 


6.


Operating (loss)/profit

The operating (loss)/profit is stated after charging:

2024
2023
£
£

Exchange differences
1,798
6,207

Depreciation of tangible fixed assets
3,835
769

Operating lease payments
70,668
19,287

Page 20

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

7.


Auditor's remuneration

2024
2023
£
£

Fees payable to the company's auditor and its associates for the audit of the company's financial statements
11,250
10,500

Fees payable to the company's auditor and its associates in respect of:

Audit-related assurance services
4,000
2,250

Taxation compliance services
1,525
2,225

All non-audit services not included above
15,490
12,320


8.


Staff costs and average number of employees

Staff costs, including director's remuneration, were as follows:


2024
2023
£
£

Wages and salaries
294,905
93,336

Social security costs
31,715
6,698

Cost of defined contribution scheme
2,049
713

328,669
100,747


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
2
1



Directors
1
1

3
2


9.


Director's remuneration

2024
2023
£
£

Director's emoluments
165,250
60,000

165,250
60,000


Page 21

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

10.


Taxation


2024
2023
£
£



Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
303,806
2,500

Adjustments in respect of prior periods
(1,306)
-

Total deferred tax
302,500
2,500


Taxation on profit on ordinary activities
302,500
2,500

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


(Loss)/profit on ordinary activities before tax
(888,745)
888,720


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 35% (2023 - 19%)
(204,686)
168,857

Effects of:


Expenses not deductible for tax purposes
5,790
506

Capital allowances for year in excess of depreciation
-
58

Utilisation of tax losses
-
(166,921)

Adjustments to tax charge in respect of prior periods
(1,306)
-

Movement in deferred tax not recognised
502,702
-

Total tax charge for the year
302,500
2,500

Page 22

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024
 
10.Taxation (continued)


Factors that may affect future tax charges

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.


11.


Dividends

2024
2023
£
£


Dividends paid
-
50,000


12.


Tangible fixed assets





Office equipment
Computer equipment
Artwork
Total

£
£
£
£



Cost or valuation


At 1 April 2023
-
5,394
-
5,394


Additions
6,458
6,198
669
13,325



At 31 March 2024

6,458
11,592
669
18,719



Depreciation


At 1 April 2023
-
5,394
-
5,394


Charge for the year
1,854
1,981
-
3,835



At 31 March 2024

1,854
7,375
-
9,229



Net book value



At 31 March 2024
4,604
4,217
669
9,490



At 31 March 2023
-
-
-
-

Page 23

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

13.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
100



At 31 March 2024
100





At 31 March 2023
-


Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Lincoln Hydrogen Limited
22 Gilbert Street, London, England, W1K 5HD
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Profit/(Loss)

Lincoln Hydrogen Limited
-


14.


Debtors

2024
£
2023
£


Trade debtors
13,600
-

Other debtors
33,768
29,019

Prepayments and accrued income
18,027
52,374

Deferred taxation
-
302,500

65,395
383,893




Page 24

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
54,982
894,939



16.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
39,284
12,298

Amounts owed to group undertakings
100
-

Other taxation and social security
2,585
18,914

Other creditors
20,545
11,072

Accruals and deferred income
41,950
19,800

104,464
62,084


Page 25

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

17.


Deferred taxation




2024


£






At beginning of year
302,500


Charged to profit or loss
(302,500)



At end of year
-

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
529

Tax losses carried forward
-
301,194

Short term timing difference
-
777

-
302,500


18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,968,000 (2021 - 1,968,000) Ordinary Class A shares of £0.01 each
19,680
19,680
400,000 (2021 - 400,000) Ordinary Class B shares of £1.00 each
400,000
400,000
7,872,000 (2021 - 7,872,000) Ordinary Class C shares of £0.01 each
78,720
78,720

498,400

498,400

Each Ordinary share has full voting, dividend and capital distribution rights (including on winding up).



19.


Reserves

Profit and loss account

This represents the cumulative profit or loss of the company less any dividends paid.


Page 26

 
Gira Strategic Finance Limited

 
Notes to the financial statements
for the year ended 31 March 2024

20.


Analysis of net debt

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.


21.


Contingent liabilities

There were no contingent liabilities at 31 March 2024 or 31 March 2023.


22.


Capital commitments

The company had no capital commitments at 31 March 2024 or 31 March 2023.


23.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
72,000
72,000

Later than 1 year and not later than 5 years
-
30,000

72,000
102,000


24.


Related party transactions

During the year the company loaned the director £126,123 (2023: £nil) and paid expenses of £951 (2023: £nil) on his behalf, these were repaid during the year. Additionally, the director incurred expenses on the company's behalf totalling £15,902 (2023: £nil). At 31 March 2024, the director was owed £15,592 (2023: £nil).
Key management personnel is comprised solely of the directors of the company and as such key management personnel compensation is disclosed in the Directors' remuneration note. 


25.


Controlling party

The ultimate controlling party is Wissam Anastas.

Page 27