REGISTERED NUMBER: 13253902 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GIBBS LEGACY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J R Gibbs

REGISTERED OFFICE:

First Floor

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

REGISTERED NUMBER:

13253902 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible assets

4

1,038,442

1,086,254

CURRENT ASSETS

Debtors

5

51,800

54,500

Cash at bank

33,153

11,342

84,953

65,842

CREDITORS

Amounts falling due within one year

6

655,407

624,458

NET CURRENT LIABILITIES

(570,454

)

(558,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

467,988

527,638

CREDITORS

Amounts falling due after more than one year

7

714,648

722,763

NET LIABILITIES

(246,660

)

(195,125

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(246,661

)

(195,126

)

(246,660

)

(195,125

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 2 December 2025 and were signed by:

J R Gibbs - Director

1.	STATUTORY INFORMATION

Gibbs Legacy 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.

During the year, the company changed its registered office from 71 Queen Victoria Street, London, EC4V 4BE to First Floor Black Country House, Rounds Green Road, Oldbury, West Midlands, B69 2DG.

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.

Revenue

Revenue received from the rental of investment properties is recognised on an accruals basis in the period to which the rental relates to.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

50 years on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on reducing balance

Office equipment

-

25% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price.

Going concern

The financial statements have been prepared on a going concern basis. The Company depends on loans made personally by the director to meet its day to day working capital requirements. The director has confirmed their intention and ability to continue providing financial support for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Office

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

and 31 March 2025

988,136

3,126

164,752

1,988

1,158,002

Depreciation

At 1 April 2024

38,552

971

30,900

1,325

71,748

Charge for year

19,763

781

26,771

497

47,812

At 31 March 2025

58,315

1,752

57,671

1,822

119,560

Net book value

At 31 March 2025

929,821

1,374

107,081

166

1,038,442

At 31 March 2024

949,584

2,155

133,852

663

1,086,254

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by participating interests

51,800

51,800

Other debtors

-

2,700

51,800

54,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

8,116

331,943

Trade creditors

-

3,353

Other creditors

647,291

289,162

655,407

624,458

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

288,648

296,763

Other creditors

426,000

426,000

714,648

722,763

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

296,764

628,706

The bank loan is secured via a fixed charge over one of the properties owned by the Company.