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Company No: 08117407 (England and Wales)

GUBERNO LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

GUBERNO LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

GUBERNO LIMITED

BALANCE SHEET

As at 30 June 2024
GUBERNO LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 45,706 56,141
Investment property 4 2,800,000 2,700,000
Investments 5 101 101
2,845,807 2,756,242
Current assets
Stocks 6 0 58,071
Debtors 7 704,810 628,432
Cash at bank and in hand 5,140 3,635
709,950 690,138
Creditors: amounts falling due within one year 8 ( 879,366) ( 894,443)
Net current liabilities (169,416) (204,305)
Total assets less current liabilities 2,676,391 2,551,937
Creditors: amounts falling due after more than one year 9 ( 913,903) ( 930,454)
Provision for liabilities ( 397,392) ( 368,436)
Net assets 1,365,096 1,253,047
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 1,364,996 1,252,947
Total shareholders' funds 1,365,096 1,253,047

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Guberno Limited (registered number: 08117407) were approved and authorised for issue by the Board of Directors on 17 June 2025. They were signed on its behalf by:

J J Fabby
Director
GUBERNO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
GUBERNO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Guberno Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments are measured at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 July 2023 10,900 77,750 8,365 97,015
Additions 0 0 991 991
At 30 June 2024 10,900 77,750 9,356 98,006
Accumulated depreciation
At 01 July 2023 7,197 31,100 2,577 40,874
Charge for the financial year 740 9,330 1,356 11,426
At 30 June 2024 7,937 40,430 3,933 52,300
Net book value
At 30 June 2024 2,963 37,320 5,423 45,706
At 30 June 2023 3,703 46,650 5,788 56,141

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 2,700,000
Fair value movement 100,000
As at 30 June 2024 2,800,000

The property is included at valuation based on a report prepared by an external agent at 30 June 2024.

5. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 1 1
Participating interests 100 100
101 101

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 1
At 30 June 2024 1
Carrying value at 30 June 2024 1
Carrying value at 30 June 2023 1

Investments in joint ventures Total
£ £
Cost or valuation before impairment
At 01 July 2023 100 100
At 30 June 2024 100 100
Carrying value at 30 June 2024 100 100
Carrying value at 30 June 2023 100 100

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
Guberno Capital Limited Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA Development of investment property Ordinary 100.00% 100.00%
Tidal Reach Construction Limited Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA Property development Ordinary 50.00% 50.00%
Sandy Lodge Developments Limited Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA Property development Ordinary 50.00% 50.00%

6. Stocks

2024 2023
£ £
Work in progress 0 58,071

7. Debtors

2024 2023
£ £
Trade debtors 110,954 43,617
Other debtors 593,856 584,815
704,810 628,432

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 8,999 14,470
Amounts owed to Group undertakings 318,413 361,907
Amounts owed to directors 445,926 461,292
Accruals and deferred income 21,126 15,920
Corporation tax 1,856 7,414
Other taxation and social security 22,782 7,487
Obligations under finance leases and hire purchase contracts 13,187 13,188
Other creditors 37,077 2,765
879,366 894,443

Creditors due within one year include hire purchase liabilities which are secured of £13,187 (2023 - £13,188).

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 905,111 908,475
Obligations under finance leases and hire purchase contracts 8,792 21,979
913,903 930,454

Creditors due after more than one year include bank loans which are secured of £889,308 (2023 - £889,308) and hire purchase liabilities which are secured of £8,792 (2023 - £21,979).

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
52 Ordinary A shares of £ 1.00 each 52 52
48 Ordinary B shares of £ 1.00 each 48 48
100 100

Reserves
Included in the profit and loss reserve are fair value gains, net of associated deferred tax, of £1,084,016 that are unrealised and non-distributable (2023 - £1,008,766).

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Guberno Capital Limited (318,413) (361,907)
Tidal Reach Construction Limited 171,756 194,705
Sandy Lodge Developments 297,209 307,209

The company operates an interest free loan account with the subsidiary company. At the year end the amount due to Guberno Capital Limited was £318,413 (2023 - £361,907).

During the year the company provided working capital to Tidal Reach Construction Limited. At the year end the balance owed to the company by Tidal Reach Construction Limited was £171,756 (2023 - £194,705). Interest has been charged at 6%.

During the year the company provided working capital to Sandy Lodge Developments Limited. At the year end the balance owed to the company by Sandy Lodge Developments Limited was £297,209 (2023 - £307,209). Interest has been charged at 6%.

Transactions with the entity's directors

2024 2023
£ £
Mr J J Fabby (445,926) (461,292)

Mr J J Fabby has advanced working capital to the company by way of an interest free loan. At the year end the balance due to Mr J J Fabby was £445,926 (2023 - £461,292).