BrightAccountsProduction v1.0.0 v1.0.0 2024-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the retail of footwear and accessories. 8 October 2025 0 0 1360402 2025-01-31 1360402 2024-01-31 1360402 2023-01-31 1360402 2024-02-01 2025-01-31 1360402 2023-02-01 2024-01-31 1360402 uk-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 1360402 uk-curr:PoundSterling 2024-02-01 2025-01-31 1360402 uk-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 1360402 uk-bus:FullAccounts 2024-02-01 2025-01-31 1360402 uk-core:ShareCapital 2025-01-31 1360402 uk-core:ShareCapital 2024-01-31 1360402 uk-core:RetainedEarningsAccumulatedLosses 2025-01-31 1360402 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 1360402 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-01-31 1360402 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 1360402 uk-bus:FRS102 2024-02-01 2025-01-31 1360402 uk-core:PlantMachinery 2024-02-01 2025-01-31 1360402 uk-core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 1360402 uk-core:CostValuation 2025-01-31 1360402 uk-core:CurrentFinancialInstruments 2025-01-31 1360402 uk-core:CurrentFinancialInstruments 2024-01-31 1360402 uk-core:WithinOneYear 2025-01-31 1360402 uk-core:WithinOneYear 2024-01-31 1360402 uk-core:ParentEntities 2024-02-01 2025-01-31 1360402 uk-countries:UnitedKingdom 2024-02-01 2025-01-31 1360402 uk-bus:Director1 2024-02-01 2025-01-31 1360402 uk-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: 1360402

Gibbs of Ely Limited

Unaudited Financial Statements

for the financial year ended 31 January 2025

Gibbs of Ely Limited

Company Registration Number: 1360402

BALANCE SHEET

as at 31 January 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 4 | 5,863 |  | 6,729
Investments |  | 5 | 3,380 |  | 3,380
|  |  | ───────── |  | ─────────
Fixed Assets |  |  | 9,243 |  | 10,109
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 6 | 113,334 |  | 119,601
Debtors |  | 7 | 46,483 |  | 60,961
Cash and cash equivalents |  |  | 155,198 |  | 128,668
|  |  | ───────── |  | ─────────
|  |  | 315,015 |  | 309,230
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 8 | (84,285) |  | (72,789)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 230,730 |  | 236,441
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 239,973 |  | 246,550
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 1,000 |  | 1,000
Retained earnings |  |  | 238,973 |  | 245,550
|  |  | ───────── |  | ─────────
Shareholders' Funds |  |  | 239,973 |  | 246,550
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 8 October 2025

________________________________ |  |  |  |  |
Mrs. K.M. Robb |  |  |  |  |
Director |  |  |  |  |

Gibbs of Ely Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 January 2025

1. | General Information
| Gibbs of Ely Limited is a company limited by shares incorporated in the United Kingdom. 4 Church Terrace, Wisbech, Cambridgeshire, PE13 1BH, England is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 January 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover comprises the invoice value of sales made by the company, exclusive of trade discounts and value added tax.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Shop improvement | - | 15% Reducing balance
|  | Fixtures, fittings and equipment | - | 15% Reducing balance
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Investments
| Investments in associates held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| 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.
| 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.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. | Employees
| The average monthly number of employees, including director, during the financial year was 8, (2024 - 7).

4. | Tangible assets
|  | Shop | Fixtures, | Total
|  | improvement | fittings and |
|  |  | equipment |
|  | £ | £ | £
| Cost
| At 1 February 2024 | 3,562 | 73,604 | 77,166
| Additions | - | 166 | 166
|  | ───────── | ───────── | ─────────
| At 31 January 2025 | 3,562 | 73,770 | 77,332
|  | ───────── | ───────── | ─────────
| Depreciation
| At 1 February 2024 | 3,555 | 66,882 | 70,437
| Charge for the financial year | 1 | 1,031 | 1,032
|  | ───────── | ───────── | ─────────
| At 31 January 2025 | 3,556 | 67,913 | 71,469
|  | ───────── | ───────── | ─────────
| Net book value
| At 31 January 2025 | 6 | 5,857 | 5,863
|  | ═════════ | ═════════ | ═════════
| At 31 January 2024 | 7 | 6,722 | 6,729
|  | ═════════ | ═════════ | ═════════

5. | Investments
|  | Other
|  | investments
| Investments | £
| Cost
| At 31 January 2025 | 3,380
|  | ─────────
| Net book value
| At 31 January 2025 | 3,380
|  | ═════════
| At 31 January 2024 | 3,380
|  | ═════════
| Unlisted investments comprise of 5,200 4% Cumulative Redeemable Participating Preference shares of £1 each in Gibbs of Wisbech.

|  | 2025 | 2024
|  | £ | £
| Director's valuation of unlisted investments | 3,380 | 3,380
|  | ═════════ | ═════════

6. | Stocks | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 113,334 | 119,601
|  | ═════════ | ═════════
| The replacement cost of stock did not differ significantly from the figures shown.

7. | Debtors | 2025 | 2024
|  | £ | £
| Amounts owed by connected parties (Note 10) | 38,395 | 56,091
| Director's current account (Note 11) | 6,860 | 3,590
| Prepayments and accrued income | 1,228 | 1,280
|  | ───────── | ─────────
|  | 46,483 | 60,961
|  | ═════════ | ═════════

8. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Payments received on account | 8,035 | -
| Trade creditors | 1,168 | 9,825
| Amounts owed to connected parties (Note 10) | 58,041 | 45,971
| Taxation (Note 9) | 11,639 | 12,085
| Other creditors | 108 | 108
| Accruals and deferred income | 5,294 | 4,800
|  | ───────── | ─────────
|  | 84,285 | 72,789
|  | ═════════ | ═════════
| The bank facilities of this company and the following companies are linked by cross guarantee and therefore the company has a liability in respect of:- Gibbs of Wisbech Gibbs of Spalding Gibbs of Peterborough (Holdings)

9. | Taxation | 2025 | 2024
|  | £ | £
| Creditors:
| VAT | 10,170 | 9,453
| PAYE / NI | 1,469 | 2,632
|  | ───────── | ─────────
|  | 11,639 | 12,085
|  | ═════════ | ═════════

10. | Related party transactions
| The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with related parties conducted at market value. The balances with connected parties are as follows:
|  | Balance | Balance
|  | 2025 | 2024
|  | £ | £
| Gibbs of Wisbech | 38,395 | 38,287
| Gibbs of Spalding | - | 17,804
|  | ───────── | ─────────
|  | 38,395 | 56,091
|  | ═════════ | ═════════
| The following amounts are due to other connected parties:
|  | 2025 | 2024
|  | £ | £
| Gibbs of Spalding | 6,494 | -
| Gibbs of Peterborough (Holdings) | 51,547 | 45,971
|  | ───────── | ─────────
|  | 58,041 | 45,971
|  | ═════════ | ═════════
| Net balances with other connected parties:
|  | 2025 | 2024
|  | £ | £
| Gibbs of Wisbech | 38,395 | 38,287
| Gibbs of Spalding | (6,494) | 17,804
| Gibbs of Peterborough (Holdings) | (51,547) | (45,971)
|  | ───────── | ─────────
|  | (19,646) | 10,120
|  | ═════════ | ═════════

11. | Director's advances, credits and guarantees
| At the year end the director owed the company £6,860., this will be repaid by 31st October 2025.

12. | Parent company
| The company regards Gibbs of Peterborough (Holdings) as its parent company.

13. | Controlling interest
| The company is under the ultimate control of the director.