REGISTERED NUMBER: 02347981 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

GIBSON GUITAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Taylor

L S Bartram

E Heidt

S D Dimitian

REGISTERED OFFICE:

61-62 Eastcastle Street

London

W1W 8NQ

REGISTERED NUMBER:

02347981 (England and Wales)

SENIOR STATUTORY AUDITOR:

Christopher Bond

AUDITORS:

SBCA Statutory Auditor

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

2,850,341

3,122,556

CURRENT ASSETS

Stocks

5

1,973,566

1,592,671

Debtors

6

704,918

891,062

Cash at bank and in hand

260,838

395,325

2,939,322

2,879,058

CREDITORS

Amounts falling due within one year

7

(4,967,562

)

(5,264,709

)

NET CURRENT LIABILITIES

(2,028,240

)

(2,385,651

)

TOTAL ASSETS LESS CURRENT LIABILITIES

822,101

736,905

CAPITAL AND RESERVES

Called up share capital

10

1,603,340

1,603,340

Retained earnings

11

(781,239

)

(866,435

)

SHAREHOLDERS' FUNDS

822,101

736,905

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 by the Board of Directors and authorised for issue on 19th December 2025 and were signed on its behalf by:

M Taylor - Director

1.	STATUTORY INFORMATION

Gibson Guitar 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

2% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for items on loan to Artists, and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2024

3,388,930

51,362

50,079

3,490,371

Additions

44,293

-

11,292

55,585

At 31st March 2025

3,433,223

51,362

61,371

3,545,956

DEPRECIATION

At 1st April 2024

343,757

20,351

3,707

367,815

Charge for year

308,016

6,337

13,447

327,800

At 31st March 2025

651,773

26,688

17,154

695,615

NET BOOK VALUE

At 31st March 2025

2,781,450

24,674

44,217

2,850,341

At 31st March 2024

3,045,173

31,011

46,372

3,122,556

5.

STOCKS

31.3.25

31.3.24

£

£

Stocks

1,973,566

1,592,671

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

20,888

55,432

Other debtors

684,030

835,630

704,918

891,062

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

16

Trade creditors

56,837

93,172

Amounts owed to group undertakings

4,436,291

4,988,498

Taxation and social security

151,009

-

Other creditors

323,425

183,023

4,967,562

5,264,709

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

393,910

422,571

Between one and five years

1,575,640

1,690,283

In more than five years

919,123

1,426,176

2,888,673

3,539,030

9.	DEFERRED TAX

£

Balance at 1st April 2024

(204,166

)

Charge to Statement of Income and Retained Earnings during year

30,209

Balance at 31st March 2025

(173,957

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,603,340

Ordinary

£1

1,603,340

1,603,340

11.

RESERVES

Retained

earnings

£

At 1st April 2024

(866,435

)

Profit for the year

85,196

At 31st March 2025

(781,239

)

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Bond (Senior Statutory Auditor)

for and on behalf of SBCA Statutory Auditor

13.	ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is the parent company, Gibson Inc., a company registered in Delaware, whose registered address is 209 10th Avenue South, Suite 460, Nashville, TN 37203.