GILLBAC LIMITED

Company Registration Number:
01886673 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2024

Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

GILLBAC LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Notes

GILLBAC LIMITED

Balance sheet

As at 31 October 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 3,613 1,805
Investments: 4 525,000 3,401,703
Total fixed assets: 528,613 3,403,508
Current assets
Debtors:   2,293,045 1,157,557
Cash at bank and in hand: 615,220 682,843
Total current assets: 2,908,265 1,840,400
Creditors: amounts falling due within one year:   (660,920) (1,287,995)
Net current assets (liabilities): 2,247,345 552,405
Total assets less current liabilities: 2,775,958 3,955,913
Provision for liabilities: (105,945) (701,868)
Total net assets (liabilities): 2,670,013 3,254,045
Capital and reserves
Called up share capital: 170 170
Share premium account: 139,930 139,930
Revaluation reserve:5362,8612,490,389
Profit and loss account: 2,167,052 623,556
Shareholders funds: 2,670,013 3,254,045

The notes form part of these financial statements

GILLBAC LIMITED

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 July 2025
and signed on behalf of the board by:

Name: Gillian Vafaey
Status: Director

The notes form part of these financial statements

GILLBAC LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the amounts (excluding value added tax) derived from the provision of goods to customers during the period.

Tangible fixed assets and depreciation policy

Fixed assets are carried in the balance sheet at cost less accumulated depreciation. Depreciation is provided on tangible fixed assets other than investment properties at a rate calculated to write off the cost of the asset over its expected useful life as follows: Equipment 5 years No depreciation is provided on freehold investment properties.

Other accounting policies

TAXATION The charge for taxation is based on the results for the period and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. FOREIGN CURRENCY All transactions in foreign currency have been recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses arising on translation are included in the profit and loss account. REVALUED INVESTMENT PROPERTIES The surplus arising on revaluation less taxation thereon is credited to Revaluation Reserve.

GILLBAC LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

2. Employees

2024 2023
Average number of employees during the period 3 1

GILLBAC LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible Assets

Total
Cost £
At 01 November 2023 2,256
Additions 2,823
At 31 October 2024 5,079
Depreciation
At 01 November 2023 451
Charge for year 1,015
At 31 October 2024 1,466
Net book value
At 31 October 2024 3,613
At 31 October 2023 1,805

GILLBAC LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Fixed investments

The property has been valued by Henshall & Partners, Estate Agenys and valuers.

GILLBAC LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Revaluation reserve

2024
£
Balance at 01 November 2023 2,490,389
Surplus or deficit after revaluation (2,127,528)
Balance at 31 October 2024 362,861

The deficit arising represents the surplus on an investment property which has been sold being transferred.