ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Company registration number: 09592179

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	GUN HILL LIMITED


GUN HILL LIMITED

COMPANY INFORMATION

Director	T P Blake


Company secretary	Andrew Jackson Company Secretaries Limited


Registered number	09592179


Registered office	Marina Court
	Castle Street
	Hull
	HU1 1TJ


Independent auditors	Menzies LLP
	Chartered Accountants & Statutory Auditor
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


GUN HILL LIMITED

CONTENTS

	Page
Statement of comprehensive income	1
Balance sheet	2
Statement of changes in equity	3
Notes to the financial statements	4 - 7


GUN HILL LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
	£	£


Administrative expenses	19,494	9,397
Operating profit	19,494	9,397
Income from fixed assets investments	347,142	213,291
Interest receivable and similar income	2,248	-
Interest payable and similar expenses	(18,586)	(20,883)
Profit before tax	350,298	201,805
Profit for the financial year	350,298	201,805

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 4 to 7 form part of these financial statements.

Page 1


GUN HILL LIMITED REGISTERED NUMBER:09592179

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		1,547,748		1,547,748
			1,547,748		1,547,748
Current assets
Debtors: amounts falling due within one year	5	82,651		-
Cash at bank and in hand		21,311		125,173
		103,962		125,173
Creditors: amounts falling due within one year	6	(130,656)		(129,478)
Net current liabilities			(26,694)		(4,305)
Total assets less current liabilities			1,521,054		1,543,443
Creditors: amounts falling due after more than one year	7		(786,751)		(1,159,438)

Net assets			734,303		384,005

Capital and reserves
Called up share capital	2	2
Profit and loss account	734,301	384,003
	734,303	384,005

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

T P Blake

Director

Date: 16 September 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 2


GUN HILL LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	2	182,198	182,200
Comprehensive income for the year
Profit for the year	-	201,805	201,805

At 1 January 2024	2	384,003	384,005
Comprehensive income for the year
Profit for the year	-	350,298	350,298
At 31 December 2024	2	734,301	734,303

The notes on pages 4 to 7 form part of these financial statements.

Page 3


GUN HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Gun Hill Limited is a private company limited by shares and incorporated in England and Wales under the Companies Act 2006. The address of the registered office is given on the company information page.
The presentational and functional currency of these financial statements is GBP. Values are rounded to the nearest pound.

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

Going concern

The director notes that the company has net current liabilities of £26,694 (2023 - £4,305), the director has reviewed the resources available to the company and prepared cashflow forecasts which demonstrate that the company has sufficient resources to meet its liabilities as they fall due.
Having assessed the current situation the director has considered it appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements. The director is satisfied that the company has the adequate resources to continue operations for the foreseeable future, being at least twelve months from the date of signature of these financial statements.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Borrowing costs

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

Page 4


GUN HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

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.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.8

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.

2.9

Dividend income

Dividend income is recognised when the right to receive payment is established.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5


GUN HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Fixed asset investments

		Investments in associates
		£
	Cost or valuation
	At 1 January 2024	1,547,748
	At 31 December 2024	1,547,748

Debtors

					2024	2023
					£	£


Amounts owed by joint ventures and associated undertakings	82,651	-
	82,651	-

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	67,181	70,029
Trade creditors	1,200	-
Amounts owed to group undertakings	51,443	50,999
Accruals and deferred income	10,832	8,450
	130,656	129,478

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other loans	462,927	555,985
Amounts owed to group undertakings	323,824	603,453
	786,751	1,159,438

Page 6


GUN HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Amounts falling due within one year
Other loans	67,181	70,029
	67,181	70,029

Amounts falling due 2-5 years
Other loans	264,723	274,415
	264,723	274,415
Amounts falling due after more than 5 years
Other loans	198,204	281,570
	198,204	281,570
	530,108	626,014

9.	Related party transactions
	At the year end, a balance of £375,267 (2023 - £654,452) is included within amounts owed to group undertakings. Loan interest of £13,124 (2023 - £17,768) was charged on these balances in the year. During the year, a dividend of £347,142 (2023 - £213,291) was received from an associate.

10.	Controlling party

The company is a wholly owned subsidiary of Valle Limited, a company incorporated in the Falkland Islands.
Valle Limited is owned 51% by RBC Limited (a company incorporated in the Falkland Islands) and 49% by NGF Limited (a company incorporated in the Falkland Islands).
RBC Limited is owned 98.7% by RBC Holdings Limited (a company incorporated in the Falkland Islands). T P Blake (director) has a 99% shareholding in RBC Holdings Limited and is considered to be the controlling party of the reporting entity.

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 17 September 2025 by James Hadfield FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 7