Gabriel International Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05979229 (England and Wales)

GABRIEL INTERNATIONAL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Gabriel

R Gabriel

SECRETARY:

R Gabriel

REGISTERED OFFICE:

Second Floor

34 Lime Street

London

EC3M 7AT

REGISTERED NUMBER:

05979229 (England and Wales)

ACCOUNTANTS:

Carston ETL

Chartered Accountants

Second Floor

34 Lime Street

London

EC3M 7AT

FIXED ASSETS

Investments

4

199,538,994

529,253,600

Investment property

5

16,467,427

16,747,988

216,006,421

546,001,588

CURRENT ASSETS

Debtors

6

307,360,878

42,220

Cash at bank

11,154,856

13,466,892

318,515,734

13,509,112

CREDITORS

Amounts falling due within one year

7

61,992,467

124,949,704

NET CURRENT ASSETS/(LIABILITIES)

256,523,267

(111,440,592

)

TOTAL ASSETS LESS CURRENT LIABILITIES

472,529,688

434,560,996

PROVISIONS FOR LIABILITIES

-

1,509,536

NET ASSETS

472,529,688

433,051,460

CAPITAL AND RESERVES

Called up share capital

8

167

Retained earnings

472,529,521

433,051,293

SHAREHOLDERS' FUNDS

472,529,688

433,051,460

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27th October 2025 and were signed on its behalf by:

P Gabriel - Director

R Gabriel - Director

1.	STATUTORY INFORMATION

Gabriel International 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.

The company and its subsidiary company have investment in equity shares, investment funds and real estate properties. The group's income consists of rent derived from the properties and income from the investment.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The 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 on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The financial statements are prepared in US dollars, the company's functional currency, rounded to the nearest $.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Gabriel International Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements in applying the entity's accounting policies

The directors have used the Rental Yield method to estimate the fair value of the properties. The Yield used was based on the current investment market and also based on the average market purchase yield calculated from the property expected net rental income. The directors believe that they are qualified to make this judgement based on the extensive knowledge they have of the rental business and of the investment market.

Accounting estimates and assumptions

The company and its subsidiary company make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below.

Impairment of debtors

The company and its subsidiary company make an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Properties classified as investment properties are those what are held for long-term rental yields or for capital appreciation.

Investment properties are initially measured at cost. After initial recognition, investment properties are carried at their fair value. Any adjustment to the fair value of the investment properties is recognised in the Income Statement for the year.

In accordance with FRS 102 no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Transactions in foreign currencies are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At the balance sheet date, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income statement.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and amounts owed by group undertakings 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 receipts discounted at a market rate of interest.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Fees paid on the establishment of loan facilities are capitalised as pre-payment for liquidity services and amortised over the period of the facility.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

$

COST OR VALUATION

At 1st January 2024

167

529,253,433

529,253,600

Additions

-

6,559,054

Disposals

-

(347,067,106

)

(347,067,106

)

Impairments

-

8,979,017

Reversal of impairments

-

1,857,806

Exchange differences

-

(43,377

)

(43,377

)

At 31st December 2024

167

199,538,827

199,538,994

NET BOOK VALUE

At 31st December 2024

167

199,538,827

199,538,994

At 31st December 2023

167

529,253,433

529,253,600

Cost or valuation at 31st December 2024 is represented by:

Shares in

group

Other

undertakings

investments

Totals

$

Valuation in 2021

-

(75,907

)

(75,907

)

Valuation in 2022

-

(4,810,969

)

(4,810,969

)

Valuation in 2023

-

(7,833,932

)

(7,833,932

)

Valuation in 2024

-

8,888,707

Cost

167

203,370,928

203,371,095

167

199,538,827

199,538,994

5.	INVESTMENT PROPERTY

Total

$

FAIR VALUE

At 1st January 2024

16,747,988

Exchange differences

(280,561

)

At 31st December 2024

16,467,427

NET BOOK VALUE

At 31st December 2024

16,467,427

At 31st December 2023

16,747,988

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

Other debtors

305,509,384

18,675

Directors' current accounts

298,307

-

Tax

1,271,189

-

Prepayments and accrued income

281,998

23,545

307,360,878

42,220

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

Amounts owed to group undertakings

-

10,453,984

Taxation and social security

-

682,826

Other creditors

61,992,467

113,812,894

61,992,467

124,949,704

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

$

100

Ordinary

$1.67

167

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of $281,443 (2023 - $130,000) were paid to the directors .

At the Balance Sheet date a balance of $Nil (2023:- $10,453,984) was owed to Gabriel International Assets Limited, the wholly owned subsidiary company.

Other Creditors includes a balance of $Nil (2023:- $16,232,369) owed to Gabriel International Limited, a connected company by virtue of common ownership and control.

Balances owed to Gabriel International Assets Limited and Gabriel International Limited written off during the year amounted to $20,757,928.

During the year, investments with an aggregate value of $154,687,013 were transferred to Gabriel Capital Investments Unlimited, a connected company by virtue of common ownership and control. A loan of $150,000,000 was also provided to this company during the year. At the Balance sheet date, an aggregate balance of $304,687,584 was owed by Gabriel Capital Investments Unlimited. This loan is interest free and repayable on demand.

At the balance sheet date, an amount of $298,307 was owed by the directors (2023:- £18,013 owed to directors). This balance was fully repaid by the directors on 24 February 2025.