Ginoco Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 02849898

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,900,326		2,900,364

			2,900,326		2,900,364
CURRENT ASSETS
Debtors	5	19,340		16,983
Cash at bank and in hand		10,031		3,031

		29,371		20,014
Creditors: Amounts Falling Due Within One Year	6	(121,663 )		(81,781 )

NET CURRENT ASSETS (LIABILITIES)			(92,292 )		(61,767 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,808,034		2,838,597

Creditors: Amounts Falling Due After More Than One Year	7		(505,219 )		(646,054 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(222,346 )		(222,356 )

NET ASSETS			2,080,469		1,970,187

CAPITAL AND RESERVES
Called up share capital	9		6		6
Fair value reserve	10		952,565		952,565
Profit and Loss Account			1,127,898		1,017,616

SHAREHOLDERS' FUNDS			2,080,469		1,970,187

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Ginoco Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John Curtis

Director

9th December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Ginoco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02849898 . The registered office is 186 High Street, Winslow, Buckinghamshire, MK18 3DQ. The presentation currency is £ Sterling rounded to the nearest £1.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

15 % Reducing Balance

2.3. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	2	2

	2	2

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Ginoco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Investment Properties	Plant & Machinery	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	2,900,114	13,753	2,913,867

As at 31 December 2024	2,900,114	13,753	2,913,867

Depreciation
As at 1 January 2024	-	13,503	13,503
Provided during the period	-	38	38

As at 31 December 2024	-	13,541	13,541

Net Book Value
As at 31 December 2024	2,900,114	212	2,900,326

As at 1 January 2024	2,900,114	250	2,900,364

Cost or valuation as at 31 December 2024 represented by:

	Investment Properties	Plant & Machinery	Total
	£	£	£
At cost	-	13,753	13,753
At valuation	2,900,114	-	2,900,114

	2,900,114	13,753	2,913,867

Investment properties, which are held for third party renting have been revalued in total as at 31st December 2024 by Mr. J. F. Curtis, a director of the company, at fair value. As at 31st December 2024 properties with an original cost of £1,725,256 were valued at £2,900,114 (2009 to 2018 - £1,527,294, 2018 - £1,597,294, 2019 to 2020 - £2,209,600, 2022 - £2,900,114). The fair value reserve of £952,565 (2023 - £952,565) is in respect of the revaluation of £1,174,858 (2023 - £1,174,858) together with the deferred tax due of £222,293 (2023 - £222,293) should the assets be sold at their revalued amounts.

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	15,043	13,279
Prepayments and accrued income	4,297	3,704

	19,340	16,983

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	5,316	5,919
Corporation tax	101,128	60,850
VAT	2,464	2,482
Accruals and deferred income	12,755	12,530

	121,663	81,781

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Ginoco Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other loans	505,219	646,054

8. Deferred Taxation

The provision for deferred taxation is made up of the following:

At at 31st December 2024, the company had accelerated capital allowances amounting to £53 (2023 - £63) and deferred tax due on the potential sale of investment properties at their revalued amount of £222,293 (2023 - £222,293).

	2024	2023
	£	£
Accelerated capital allowances	53	63
Other timing differences	222,293	222,293

	222,346	222,356

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	6	6

10. Reserves

	Fair Value Reserve
	£
As at 1 January 2024	952,565

As at 31 December 2024	952,565

The fair value reserve is in respect of the revaluation of investment properties, net of deferred taxation, these profits are not available for distribution as they are unrealised. Full taxation provision has been made with indexation to 31st December 2017, no indexation is available after this date.

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