Company No: 11955407 (England and Wales)

Contents

• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gaba Life Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Gaba Life Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gaba Life Limited. You consider that Gaba Life Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Gaba Life Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Gaba Life Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Gaba Life Limited and state those matters that we have agreed to state to the director of Gaba Life Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gaba Life Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor
168 Shoreditch High Street
London
E1 6RA

30 September 2025

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,685		3,215
		2,685		3,215
Current assets
Debtors	4	100		400
Cash at bank and in hand		2,577		16,216
		2,677		16,616
Creditors: amounts falling due within one year	5	( 9,977)		( 10,138)
Net current (liabilities)/assets		(7,300)		6,478
Total assets less current liabilities		(4,615)		9,693
Creditors: amounts falling due after more than one year	6	( 18,870)		( 18,937)
Net liabilities		( 23,485)		( 9,244)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 23,585 )		( 9,344 )
Total shareholder's deficit		( 23,485)		( 9,244)

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 Gaba Life Limited (registered number: 11955407) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

Adam Maxwell Martin 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

Gaba Life 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 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 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 financial statements have been prepared on a going concern basis. This conclusion that going concern is the most appropriate basis is made in light of the company having net current assets of £2677 (2023 : £16,616)including cash on hand of £2,577 (2023: £16,216) at the balance sheet date.

The assessment that the going concern basis is most appropriate for preparing the accounts has taken into consideration follows the company’s future trading prospects, its working capital requirements and cashflows.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

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.

10 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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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	5,298		5,298
At 31 December 2024	5,298		5,298
Accumulated depreciation
At 01 January 2024	2,083		2,083
Charge for the financial year	530		530
At 31 December 2024	2,613		2,613
Net book value
At 31 December 2024	2,685		2,685
At 31 December 2023	3,215		3,215

4. Debtors

	2024		2023
	£		£
Trade debtors	0		300
Other debtors	100		100
	100		400

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	3,947		6,105
Trade creditors	1,085		0
Other creditors	4,945		4,033
	9,977		10,138

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	18,870		18,937

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

During the year, the director made payments of £NIL (2023: £2,452) on behalf of the company. At the year end, the company owed the director £2,806 (2023: £1,894), which is included within ‘Other creditors’.