Company No: 06042987 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	750		35,541
Tangible assets	4	3,910		4,509
		4,660		40,050
Current assets
Debtors	5	3,449		1,002
Cash at bank and in hand		8,707		22,549
		12,156		23,551
Creditors: amounts falling due within one year	6	( 36,729)		( 40,230)
Net current liabilities		(24,573)		(16,679)
Total assets less current liabilities		(19,913)		23,371
Net (liabilities)/assets		( 19,913)		23,371
Capital and reserves
Called-up share capital	7	15,000		15,000
Profit and loss account		( 34,913 )		8,371
Total shareholders' (deficit)/funds		( 19,913)		23,371

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.

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 GAVURIN LTD (registered number: 06042987) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

P Miller 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

GAVURIN 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 The Racquets Court, College Street, Newcastle Upon Tyne, NE1 8JG, 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 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be readily measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Employee benefits

Defined benefit schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

5 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

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, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc.

20 - 25 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 January 2024	917,615		917,615
At 31 December 2024	917,615		917,615
Accumulated amortisation
At 01 January 2024	882,074		882,074
Charge for the financial year	34,791		34,791
At 31 December 2024	916,865		916,865
Net book value
At 31 December 2024	750		750
At 31 December 2023	35,541		35,541

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	30,810		30,810
At 31 December 2024	30,810		30,810
Accumulated depreciation
At 01 January 2024	26,301		26,301
Charge for the financial year	599		599
At 31 December 2024	26,900		26,900
Net book value
At 31 December 2024	3,910		3,910
At 31 December 2023	4,509		4,509

5. Debtors

	2024		2023
	£		£
Trade debtors	1,890		0
Other debtors	1,559		1,002
	3,449		1,002

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Other taxation and social security	0		1,247
Other creditors	36,729		38,983
	36,729		40,230

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
15,000 Ordinary shares shares of £ 1.00 each	15,000		15,000

8. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to the directors	29,688		29,688

No interest has been charged on the loan from the directors in the year (2023 - Nil).