GFS London Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13244600 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GFS LONDON HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M O Ihsanoglu

REGISTERED OFFICE:

10 London Mews

LONDON

W2 1HY

REGISTERED NUMBER:

13244600 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

LONDON

W2 1HY

FIXED ASSETS

Investments

4

1,294,902

CURRENT ASSETS

Debtors

5

93,714

1,118,266

Cash at bank

5,949

96,045

99,663

1,214,311

CREDITORS

Amounts falling due within one year

6

(1,824

)

41,214

NET CURRENT ASSETS

101,487

1,173,097

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,396,389

2,467,999

CAPITAL AND RESERVES

Called up share capital

10,001

Share premium

8

1,284,773

Other reserves

8

1,048,378

Retained earnings

8

(946,763

)

124,847

SHAREHOLDERS' FUNDS

1,396,389

2,467,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 September 2025 and were signed by:

M O Ihsanoglu - Director

1.	STATUTORY INFORMATION

GFS London Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments in joint venture

Investment in joint venture is recognised at the carrying value at the date of transfer.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 January 2024

and 31 December 2024

1,294,902

NET BOOK VALUE

At 31 December 2024

1,294,902

At 31 December 2023

1,294,902

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

-

250,397

Other debtors

86,237

867,869

Tax

7,132

-

VAT

345

-

93,714

1,118,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

234

-

Tax

-

7,132

Social security and other taxes

(8,087

)

2,596

VAT

-

26,436

Other creditors

1,729

-

Accrued expenses

4,300

5,050

(1,824

)

41,214

7.	FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

8.

RESERVES

Included in reserves are undistributable reserves of £1,048,378 (2023:£1,048,378).