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Registered number: 01043656










GOTELEE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
GOTELEE LTD
REGISTERED NUMBER: 01043656

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
213,636
324,001

Investments
 5 
12,944
14,348

Investment property
 6 
2,116,956
2,116,956

  
2,343,536
2,455,305

Current assets
  

Debtors: amounts falling due within one year
 7 
16,468
17,471

Cash at bank and in hand
 8 
319,658
171,795

  
336,126
189,266

  

Creditors: amounts falling due within one year
 9 
(24,736)
(17,640)

Net current assets
  
 
 
311,390
 
 
171,626

Total assets less current liabilities
  
2,654,926
2,626,931

  

Net assets
  
2,654,926
2,626,931


Capital and reserves
  

Called up share capital 
 10 
15,000
15,000

Revaluation reserve
 11 
1,066,938
1,066,938

Profit and loss account
 11 
1,572,988
1,544,993

  
2,654,926
2,626,931


Page 1

 
GOTELEE LTD
REGISTERED NUMBER: 01043656

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




I Rockett
Director

Date: 27 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Gotelee Ltd is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 8th Floor South, Reading Bridge House, George Street, Reading, RG1 8LS.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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;
the 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 3

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.4

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold property
-
over the term of the lease
Fixtures & fittings
-
10% on reducing balance
Computer equipment
-
25% straight line and 10% on reducing balance

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. If there has been no external valuation during the year, the director will determine the fair value based on an open market value for existing use basis. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet 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 balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.10

Provision for liablities

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 benifit, 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 tha company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risk and uncertainities.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

  
2.11

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 and investments in ordinary shares.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Page 5

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Tangible fixed assets





Leasehold property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
440,542
990
14,170
455,702


Disposals
(147,124)
-
-
(147,124)



At 30 September 2024

293,418
990
14,170
308,578



Depreciation


At 1 October 2023
119,780
728
11,193
131,701


Charge for the year on owned assets
2,401
26
317
2,744


Disposals
(39,503)
-
-
(39,503)



At 30 September 2024

82,678
754
11,510
94,942



Net book value



At 30 September 2024
210,740
236
2,660
213,636



At 30 September 2023
320,762
262
2,977
324,001


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Unlisted investments
Total

£
£
£
£



Cost or valuation


At 1 October 2023
90
14,249
9
14,348


Revaluations
-
(1,404)
-
(1,404)



At 30 September 2024
90
12,845
9
12,944




Page 6

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
2,116,956



At 30 September 2024
2,116,956

The 2024 valuations were made by by the directors, on an open market value for existing use basis.






7.


Debtors

2024
2023
£
£


Other debtors
11,904
12,835

Prepayments and accrued income
4,564
4,636

16,468
17,471



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
319,658
171,795



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
11,402
3,415

Other taxation and social security
821
928

Other creditors
7,793
7,793

Accruals and deferred income
4,720
5,504

24,736
17,640


Page 7

 
GOTELEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



15,000 (2023 - 15,000) Ordinary shares of £1.00 each
15,000
15,000



11.


Reserves

Revaluation reserve

The revaluation reserve consists of the revaluations made on investment properties less any associated deferred tax.

Profit & loss account

The profit and loss account includes all current and prior results disclosed in the Statement of Comprehensive Income.


12.


Controlling party

During the current year and the previous year, the company had no ultimate controlling party.


Page 8