Gill London II Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07951974 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gill London II Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T S Gill

J S Gill

REGISTERED OFFICE:

51 Gloucester Terrace

London

United Kingdom

W2 3DQ

REGISTERED NUMBER:

07951974 (England and Wales)

ACCOUNTANTS:

Euro Ashfords (UK) Ltd

2nd Floor,

39 Ludgate hill

London

EC4M 7JN

FIXED ASSETS

Tangible assets

4

27,674

3,686

Investment property

5

10,285,000

10,312,674

10,288,686

CURRENT ASSETS

Debtors

6

2,428,186

1,656,722

Cash at bank

193,629

868,494

2,621,815

2,525,216

CREDITORS

Amounts falling due within one year

7

1,001,715

920,963

NET CURRENT ASSETS

1,620,100

1,604,253

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,932,774

11,892,939

CREDITORS

Amounts falling due after more than one
year

8

(2,300,000

)

(2,300,000

)

PROVISIONS FOR LIABILITIES

10

(723,409

)

(723,409

)

NET ASSETS

8,909,365

8,869,530

CAPITAL AND RESERVES

Called up share capital

11

Share premium

2,972,100

Retained earnings

5,937,254

5,897,419

8,909,365

8,869,530

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

J S Gill - Director

1.	STATUTORY INFORMATION

Gill London II 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 as modified by the revaluation of certain assets.

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.

Plant & Machinery

25% Reducing ballance method

Fixtures & fittings

25% Reducing ballance method

Computer equipment

3 years straigt line basis

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a

departure from the requirements of the Companies Act. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure consumption and to depreciate them would not give a true and fair view.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separated or quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

4,915

Additions

32,252

At 31 December 2024

37,167

DEPRECIATION

At 1 January 2024

1,229

Charge for year

8,264

At 31 December 2024

9,493

NET BOOK VALUE

At 31 December 2024

27,674

At 31 December 2023

3,686

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

10,285,000

NET BOOK VALUE

At 31 December 2024

10,285,000

At 31 December 2023

10,285,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2022

10,285,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

6,400,000

Investment property was valued on an open market basis on 31 December 2024 by the director. .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

811,797

Other debtors

1,616,389

844,925

2,428,186

1,656,722

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

16,013

-

Trade creditors

22,025

22,024

Amounts owed to group undertakings

725,075

635,728

Taxation and social security

(46,700

)

44,443

Other creditors

285,302

218,768

1,001,715

920,963

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

2,300,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

2,300,000

The bank loan is secured by a first legal charge on freehold property located at 54-56 Cleveland Square,

London, W2 and a fixed charge on any other interest in the above property, all rent receivable from any

lease granted and the proceeds of any insurance affecting the property.

As at the year end the company has drawn down £1,600,000 and as at 31 December 2023, the loan was

repayable on 30 January 2023.

On 5 January the company entered into a loan agreement with Natwest for an additional loan of £700,000, extending the repayment date to 5 January 2028.

Interest is charged on the loan at 2.5% p.a. over base rate.

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

723,409

Deferred

tax

£

Balance at 1 January 2024

723,409

Balance at 31 December 2024

723,409

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

J S Gill

Balance outstanding at start of year

(17,068

)

(17,068

)

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(17,068

)

(17,068

)

At the balance sheet date, the director, Mr. Jagjit Singh Gill, was owed £17,068 (2023: £17,068) by the company. This represents an interest-free loan made to the company by the director.

12.	RELATED PARTY DISCLOSURES

The following amounts were due from/(to) related parties at the year end:

2024

2023

£

Gill London III Limited

796,941

Gill Properties UK LLC

11,650

Gill London I Limited

(671,754

)

(506,754

)

JJM Holdings Limited

(53,321

)

(128,974

)

Transomas Investments Ltd

2,749

Whitechurch lane

457

All the above amounts due from/(to) related parties are interest free and repayable in demand.

All the above companies are related though a common director.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is J S Gill.