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# GILLSPACE LTD

## Company Registration Number:
15498429 (England and Wales)

## Unaudited statutory accounts for the year ended 28 February 2025

## Period of accounts

## Start date: 17 February 2024

## End date: 28 February 2025

# GILLSPACE LTD

## Contents of the Financial Statements

for the Period Ended 28 February 2025

Company Information - 3 |
Report of the Directors - 4 |
Profit and Loss Account - 5 |
Balance sheet - 6 |
Additional notes - 8 |
Profit and Loss notes - 11 |
Balance sheet notes - 12 |

# GILLSPACE LTD

## Company Information

for the Period Ended 28 February 2025

Director: |  | Harjinder Gill
|  | Dilraj Gill
Registered office: |  | 19 Hill Rise Slough England SL3 8RA
Company Registration Number: |  | 15498429 (England and Wales)

# GILLSPACE LTD

## Directors' Report Period Ended 28 February 2025

The directors present their report with the financial statements of the company for the period ended 28 February 2025

Directors

The director(s) shown below were appointed to the company during the period
Harjinder Gill
17 February 2024
Dilraj Gill
17 February 2024

This report was approved by the board of directors on 10 October 2025
And Signed On Behalf Of The Board By:

Name: Harjinder Gill
Status: Director

Name: Dilraj Gill
Status: Director

# GILLSPACE LTD

## Profit and Loss Account

for the Period Ended 28 February 2025

| Notes | 2025 £
--- | --- | ---
Turnover |  | 20,500
Cost of sales |  | ( 141,625 )
Gross Profit or (Loss) |  | ( 121,125 )
Income from coronavirus (COVID-19) business support grants |  | 0
Distribution Costs |  | ( 0 )
Administrative Expenses |  | ( 16,689 )
Other operating income |  | 0
Operating Profit or (Loss) |  | ( 137,814 )
Interest Receivable and Similar Income |  | 0
Interest Payable and Similar Charges |  | ( 0 )
Profit or (Loss) Before Tax | 4 | ( 137,814 )
Tax on Profit |  | ( 0 )
Profit or (Loss) for Period |  | ( 137,814 )

The notes form part of these financial statements

# GILLSPACE LTD

## Balance sheet

As at 28 February 2025

| Notes | 2025 £
--- | --- | ---
Fixed assets
Intangible assets: | 5 | 0
Tangible assets: | 6 | 470,377
Total fixed assets: |  | 470,377
Current assets
Stocks: |  | 0
Debtors: | 7 | 0
Cash at bank and in hand: |  | 1,594
Total current assets: |  | 1,594
Prepayments and accrued income: |  | 0
Creditors: amounts falling due within one year: | 8 | ( 140,675 )
Net current assets (liabilities): |  | ( 139,081 )
Total assets less current liabilities: |  | 331,296
Creditors: amounts falling due after more than one year: | 9 | ( 342,350 )
Provision for liabilities: |  | ( 0 )
Accruals and deferred income: |  | ( 0 )
Total net assets (liabilities): |  | ( 11,054 )

The notes form part of these financial statements

# GILLSPACE LTD

## Balance sheet continued

As at 28 February 2025

| Notes | 2025 £
--- | --- | ---
Capital and reserves
Called up share capital: |  | 1
Revaluation reserve: | 10 | 0
Profit and loss account: |  | ( 11,055 )
Shareholders funds: |  | ( 11,054 )

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 October 2025
And Signed On Behalf Of The Board By:

Name: Harjinder Gill
Status: Director

Name: Dilraj Gill
Status: Director

The notes form part of these financial statements

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue recognition (rental income): Rental income is recognised on a straight-line basis over the period to which it relates, from the tenancy start date until termination. Rent received in advance is recorded as deferred income; rent receivable at the period end is accrued. Tenant deposits are treated as liabilities and are not recognised as income. Any other income is recognised when the service has been provided and the amount can be measured reliably.

  Tangible fixed assets depreciation policy

  Tangible fixed assets: Measured at cost less accumulated depreciation and impairment.
  Land is not depreciated.
  Buildings are depreciated straight-line at 2% per annum from the date the asset is available for use.
  Directly attributable purchase costs (e.g. SDLT and legal fees) are capitalised. Day-to-day repairs and maintenance are expensed as incurred. Useful lives and residual values are reviewed annually.

  Intangible fixed assets amortisation policy

  The company held no intangible assets during the period; accordingly no amortisation policy is presented.

  Valuation information and policy

  The company applies the cost model for land and buildings and does not revalue its property. No investment properties are held.

  Other accounting policies

  Going concern: The financial statements have been prepared on a going concern basis. The director has indicated continued financial support for the company for at least twelve months from the date of approval of these financial statements. Financial instruments: The company’s basic financial instruments comprise cash at bank and amounts owed to/from related parties and lenders, which are measured at amortised cost. Cash and cash equivalents: Cash at bank and in hand includes cash and demand deposits.

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

- ## 2. Employees

  | 2025
  --- | ---
  Average number of employees during the period | 2 |

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

- ## 3. Off balance sheet disclosure

  No

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 4.Profit or (Loss) before tax

Director's Loan

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 5. Intangible assets

| Other | Total
--- | --- | ---
Cost | £ | £
Additions | 0 | 0
Disposals | ( 0 ) | ( 0 )
Revaluations | 0 | 0
Transfers | 0 | 0
At 28 February 2025 | 0 | 0
Amortisation |  |
Charge for year | 0 | 0
On disposals | ( 0 ) | ( 0 )
Other adjustments | 0 | 0
Amortisation at 28 February 2025 | 0 | 0
Net book value |  |
Net book value at 28 February 2025 | 0 | 0

The company had no intangible assets during the period.

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 6. Tangible assets

| Land & buildings | Total
--- | --- | ---
Cost | £ | £
Additions | 475,963 | 475,963
Disposals | ( 0 ) | ( 0 )
Revaluations | 0 | 0
Transfers | 0 | 0
At 28 February 2025 | 475,963 | 475,963
Depreciation |  |
Charge for year | 5,586 | 5,586
On disposals | ( 0 ) | ( 0 )
Other adjustments | 0 | 0
At 28 February 2025 | 5,586 | 5,586
Net book value |  |
At 28 February 2025 | 470,377 | 470,377

Land & buildings acquired 29-Apr-2024 and measured at cost. Land not depreciated; buildings depreciated straight-line at 2% p.a. No disposals or revaluations in the period.

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 7. Debtors

| 2025 £
--- | ---
Trade debtors | 0 |
Prepayments and accrued income | 0 |
Other debtors | 0 |
Total | 0 |
Debtors due after more than one year: | 0 |

The company had no trade debtors, prepayments or other debtors at the year end.

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 8.Creditors: amounts falling due within one year note

| 2025 £
--- | ---
Bank loans and overdrafts | 0
Amounts due under finance leases and hire purchase contracts | 0
Trade creditors | 0
Taxation and social security | 0
Accruals and deferred income | 0
Other creditors | 140,675
Total | 140,675

Other creditors include a loan from a director of £140,675, interest-free and repayable on demand. No amounts falling due within one year are secured. The mortgage of £342,350 is shown under creditors due after more than one year

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 9.Creditors: amounts falling due after more than one year

| 2025 £
--- | ---
Bank loans and overdrafts | 0
Amounts due under finance leases and hire purchase contracts | 0
Other creditors | 342,350
Total | 342,350

The amount due after more than one year relates to a mortgage of £342,350 secured by a first legal charge over the company’s residential property. Interest-only; no capital repayments due within 12 months. The short-term portion is shown in AC58 (nil).

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 10. Revaluation reserve

| 2025 £
--- | ---
Surplus or deficit after revaluation | 0
Balance at 28 February 2025 | 0

The company has not revalued its property. Land & buildings are carried at cost less depreciation (land not depreciated). No revaluation reserve is recognised.

# GILLSPACE LTD

## Notes to the Financial Statements

for the Period Ended 28 February 2025

## 11.1.Related party disclosures

Name of related party: | Mr Harjinder Gill
Description of relationship:
Director and shareholder
Description of the transaction:
During the period the director advanced funds to the company to support working capital/property purchase. The loan is interest-free, unsecured and repayable on demand. Amount advanced in the period: £140,675. Repayments in the period: £0. No guarantees were provided. No other related-party transactions occurred.
Balance at 28 February 2025 | 140,675

During the period the director advanced funds to the company to part-fund the property purchase and working capital. The loan is unsecured, interest-free, and repayable on demand. Balance outstanding at 28 February 2025: £140,675. No guarantees were provided and no other related-party transactions occurred.