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Company No: 11433262 (England and Wales)

# GIBIDI UK LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

GIBIDI UK LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

GIBIDI UK LIMITED

## COMPANY INFORMATION

For the financial year ended 31 March 2025
GIBIDI UK LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025

DIRECTORS | M. Negrini
| M. Prandi
| G. J. Tate
| N. P. Tate

REGISTERED OFFICE | Unit 5 Spelmonden Farm
| Goudhurst
| Cranbrook
| Kent
| TN17 1HD
| United Kingdom

COMPANY NUMBER | 11433262 (England and Wales)

ACCOUNTANT | S&W Partners (South East) Limited
| Brockbourne House
| 77 Mount Ephraim
| Royal Tunbridge Wells
| TN4 8BS

GIBIDI UK LIMITED

## BALANCE SHEET

As at 31 March 2025
GIBIDI UK LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 11,009 |  | 17,569
|  | 11,009 |  | 17,569
Current assets |  |  |  |
Stocks | 4 | 243,183 |  | 214,959
Debtors | 5 | 62,402 |  | 115,242
Cash at bank and in hand |  | 42,972 |  | 18,639
|  | 348,557 |  | 348,840
Creditors: amounts falling due within one year | 6 | ( 231,870) |  | ( 214,935)
Net current assets |  | 116,687 |  | 133,905
Total assets less current liabilities |  | 127,696 |  | 151,474
Creditors: amounts falling due after more than one year | 7 | ( 3,524) |  | ( 13,949)
Provision for liabilities | 8 | ( 211) |  | ( 1,662)
Net assets |  | 123,961 |  | 135,863
Capital and reserves |  |  |  |
Called-up share capital |  | 50,000 |  | 50,000
Profit and loss account |  | 73,961 |  | 85,863
Total shareholders' funds |  | 123,961 |  | 135,863

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of GiBiDi UK Limited (registered number: 11433262) were approved and authorised for issue by the Board of Directors on 03 September 2025. They were signed on its behalf by:

G. J. Tate Director |

GIBIDI UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
GIBIDI UK LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 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

GiBiDi UK 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 Unit 5 Spelmonden Farm, Goudhurst, Cranbrook, TN17 1HD, Kent, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

##### Turnover

Turnover is recognised to the extend that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised when the goods are collected or received by the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

##### 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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

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

Plant and machinery | 3 - 10 years straight line
Vehicles | 25 % 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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Leases

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

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts.

##### 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.

##### Trade and other 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. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 7

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 29,954 |  | 12,472 |  | 42,426
At 31 March 2025 | 29,954 |  | 12,472 |  | 42,426
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 15,786 |  | 9,071 |  | 24,857
Charge for the financial year | 5,800 |  | 760 |  | 6,560
At 31 March 2025 | 21,586 |  | 9,831 |  | 31,417
Net book value |  |  |  |  |
At 31 March 2025 | 8,368 |  | 2,641 |  | 11,009
At 31 March 2024 | 14,168 |  | 3,401 |  | 17,569

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 243,183 |  | 214,959

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 18,986 |  | 103,490
Amounts owed by connected companies | 35,019 |  | 7,384
Prepayments and accrued income | 8,397 |  | 4,368
| 62,402 |  | 115,242

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,419 |  | 10,166
Trade creditors | 28,057 |  | 8,383
Amounts owed to Group undertakings | 170,149 |  | 155,079
Amounts owed to connected companies | 9,134 |  | 2,711
Accruals | 5,380 |  | 4,876
Other taxation and social security | 8,000 |  | 32,989
Other creditors | 731 |  | 731
| 231,870 |  | 214,935

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 3,524 |  | 13,949

The Company drew down a loan during 2021 which was facilitated by the Government's Bounce Back Loan Scheme. The loan is repayable over the course of six years at an interest rate of 2.5%. The loan was interest-free for the first 12 months.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 1,662) |  | ( 3,453)
Credited to the Statement of Income and Retained Earnings | 1,451 |  | 1,791
At the end of financial year | ( 211) |  | ( 1,662)

#### 9. Related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed to shareholders relating to unpaid purchases | 170,149 |  | 155,079
Amounts owed to companies with directors in common | 9,134 |  | 2,711

These amounts are interest free and repayable on demand.