Company No: 04819030 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Director	R M Harris (Resigned 25 April 2024)
	L G Marks

Secretary

I Gadilhe

Registered office	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

04819030 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2024		2023
		£		£
Fixed assets
Investment property	4	4,000,000		4,000,000
		4,000,000		4,000,000
Current assets
Debtors	5	23,366		19,800
Cash at bank and in hand		9,551		37,173
		32,917		56,973
Creditors: amounts falling due within one year	6	( 1,194,326)		( 1,183,372)
Net current liabilities		(1,161,409)		(1,126,399)
Total assets less current liabilities		2,838,591		2,873,601
Provision for liabilities	7	( 435,767)		( 435,767)
Net assets		2,402,824		2,437,834
Capital and reserves
Called-up share capital	8	1		1
Revaluation reserve		1,987,264		1,987,264
Profit and loss account		415,559		450,569
Total shareholder's funds		2,402,824		2,437,834

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Goldsave Ltd (registered number: 04819030) were approved and authorised for issue by the Director on 19 September 2025. They were signed on its behalf by:

L G Marks Director

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

Goldsave Ltd (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 2nd Floor, 168 Shoreditch High Street, London, E1 6RA, 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 £.

Going concern

Despite the company reporting net current liabilities of £1,161,409 (2023: £1,126,399) as at 31 December 2024, the financial statements have been prepared on a going concern basis. Included within 'Creditors: amounts due within one year' is an amount of £1,180,756 (2023: £1,180,756) to the company's parent undertaking who have confirmed they will not call for repayment of this sum until the company has sufficient cash reserves to do so, without prejudice to the company's other creditors, and for a period of at least twelve months from the date of approval of the financial statements.

For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rents from tenants, credit for which is taken on an accruals basis excluding discounts, rebates, value added tax and other sales taxes.

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.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 current 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.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

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.

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.

Trade and other debtors

Trade and other debtors 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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	111,932		111,932
At 31 December 2024	111,932		111,932
Accumulated depreciation
At 01 January 2024	111,932		111,932
At 31 December 2024	111,932		111,932
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	4,000,000
As at 31 December 2024	4,000,000

Valuation

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

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2024		2023
	£		£
Historic cost	1,529,355		1,529,355

5. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	19,429		0
Corporation tax	0		2,024
Other debtors	3,937		17,776
	23,366		19,800

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	1,180,756		1,180,756
Other creditors	13,570		2,616
	1,194,326		1,183,372

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 435,767)		( 435,767)
At the end of financial year	( 435,767)		( 435,767)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Revaluation of investment property	( 435,767)		( 435,767)

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

9. Related party transactions

At the balance sheet date, the company owed £96 (2023: £96) to a former director of the company. This amount is included within Creditors 'Other creditors'.

During the year, a director of the company met expenditure on behalf of the company totalling £9,875 (2023: £Nil). At the balance sheet date, the company owed £9,875 (2023: £Nil) to a director of the company. This amount is included within Creditors 'Other creditors'.

10. Reserves

Revaluation reserve

The revaluation reserve is used to record the revaluation gains on the investment properties, less any related provision for deferred taxation.

Profit and loss account

The Profit and loss account comprises all current and prior period retained profits and losses.

Share capital

This represents the nominal value of shares that have been issued by the company.

11. Ultimate controlling party

The immediate parent company is W H Securities Limited and the ultimate parent company is Barbridge Investments Limited, both companies are registered in England and Wales.