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Registered number: 03752712 G-A-Y GROUP LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 APRIL 2025
G-A-Y GROUP LIMITED REGISTERED NUMBER: 03752712 STATEMENT OF FINANCIAL POSITION AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | - |  | 1,500
Tangible assets | 5 |  | 886,531 |  | 1,052,466
Investments | 6 |  | 100 |  | 100
|  |  | 886,631 |  | 1,054,066
Current assets |  |  |  |  |
Stocks | 7 | 113,339 |  | 80,738 |
Debtors: amounts falling due after more than one year | 8 | 141,547 |  | 157,185 |
Debtors: amounts falling due within one year | 8 | 2,723,577 |  | 1,943,514 |
Cash at bank and in hand | 9 | 542,115 |  | 1,371,320 |
|  | 3,520,578 |  | 3,552,757 |
Creditors: amounts falling due within one year | 10 | (669,453) |  | (501,949) |
Net current assets |  |  | 2,851,125 |  | 3,050,808
Total assets less current liabilities |  |  | 3,737,756 |  | 4,104,874
Net assets |  |  | 3,737,756 |  | 4,104,874
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 313 |  | 313
Share premium account |  |  | 1,994,787 |  | 1,994,787
Profit and loss account |  |  | 1,742,656 |  | 2,109,774
|  |  | 3,737,756 |  | 4,104,874
Page 1
G-A-Y GROUP LIMITED REGISTERED NUMBER: 03752712 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 APRIL 2025 The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
J Joseph
Director
Date: 13 January 2026
The notes on pages 4 to 14 form part of these financial statements. Page 2
G-A-Y GROUP LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 APRIL 2025
| Called up share capital | Share premium account | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 May 2023 | 313 | 1,994,787 | 2,507,360 | 4,502,460
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 187,014 | 187,014
Total comprehensive income for the year | - | - | 187,014 | 187,014
Dividends: Equity capital | - | - | (584,600) | (584,600)
At 1 May 2024 | 313 | 1,994,787 | 2,109,774 | 4,104,874
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 40,482 | 40,482
Total comprehensive income for the year | - | - | 40,482 | 40,482
Dividends: Equity capital | - | - | (407,600) | (407,600)
At 30 April 2025 | 313 | 1,994,787 | 1,742,656 | 3,737,756
| The notes on pages 4 to 14 form part of these financial statements.
Page 3
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
G-A-Y Group Limited (“the Company”) is a private Company limited by shares and is incorporated and domiciled in England. The address of its registered office and principal place of business is Heaven Nightclub 11 The Arches, Villiers Street, London, England, WC2N 6NG. The principal activity of the company was that of bar, entertainment production and promotion of live music entertainment through its venues, G-A-Y Bar and Heaven. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of JJ is G-A-Y Limited as at 30 April 2025 and these financial statements may be obtained from the registered office. Page 4
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Trademarks | - | 10 | years
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | 5% | over the term of the lease
|  |  |  | Fixtures and fittings | - | 20% | straight-line
|  |  |  | Computer equipment | - | 20% | straight-line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.7 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Page 6
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing Page 7
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 8
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2.13 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.14 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.15 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.16 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Page 9
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
3. | Employees
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Director | 1 | 1
|  | Admin staff | 5 | 6
|  | Bar staff | 163 | 208
|  |  | 169 | 215
4. | Intangible assets
|  | Trademarks | Goodwill | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 May 2024 | 143,879 | 1,193,821 | 1,337,700
| At 30 April 2025 | 143,879 | 1,193,821 | 1,337,700
| Amortisation |  |  |
| At 1 May 2024 | 142,379 | 1,193,821 | 1,336,200
| Charge for the year on owned assets | 1,500 | - | 1,500
| At 30 April 2025 | 143,879 | 1,193,821 | 1,337,700
| Net book value |  |  |
| At 30 April 2025 | - | - | -
| At 30 April 2024 | 1,500 | - | 1,500
Page 10
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Tangible fixed assets
|  | Long-term leasehold property | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 May 2024 | 2,960,947 | 3,015,323 | 90,488 | 6,066,758
| Additions | - | - | 10,346 | 10,346
| Disposals | (1,535,980) | (520,541) | - | (2,056,521)
| At 30 April 2025 | 1,424,967 | 2,494,782 | 100,834 | 4,020,583
| Depreciation |  |  |  |
| At 1 May 2024 | 2,099,688 | 2,828,766 | 85,838 | 5,014,292
| Charge for the year on owned assets | 32,919 | 78,320 | 2,572 | 113,811
| Disposals | (1,409,816) | (584,235) | - | (1,994,051)
| At 30 April 2025 | 722,791 | 2,322,851 | 88,410 | 3,134,052
| Net book value |  |  |  |
| At 30 April 2025 | 702,176 | 171,931 | 12,424 | 886,531
| At 30 April 2024 | 861,259 | 186,557 | 4,650 | 1,052,466
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 May 2024 | 100
| At 30 April 2025 | 100
Page 11
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
7. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 113,339 | 80,738
|  | 113,339 | 80,738
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 141,548 | 157,185
|  | 141,548 | 157,185
| Due within one year |  |
| Trade debtors | 9,884 | 57,371
| Amounts owed by group undertakings | 1,024,415 | 1,014,989
| Other debtors | 1,283,172 | 481,926
| Prepayments and accrued income | 406,105 | 389,228
|  | 2,865,124 | 2,100,699
9. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 542,115 | 1,371,320
|  | 542,115 | 1,371,320
Page 12
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
10. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 253,697 | 144,502
| Amounts owed to group undertakings | 100 | 100
| Corporation tax | 42,600 | -
| Other taxation and social security | 62,243 | 181,362
| Other creditors | 28,425 | 93,240
| Accruals and deferred income | 282,388 | 82,745
|  | 669,453 | 501,949
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 3,132,075 (2024 - 3,132,075) Ordinary shares of £0.00010 each | 313 | 313
12. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,215 (2024: £25,385). Contributions totalling £2,881 (2024: £7,149) were payable to the fund at the reporting date and are included in creditors.
13. | Commitments under operating leases
| At 30 April 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 920,000 | 1,115,000
| Later than 1 year and not later than 5 years | 4,460,000 | 4,460,000
| Later than 5 years | 13,395,000 | 13,200,000
|  | 18,775,000 | 18,775,000
Page 13
G-A-Y GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
14. | Post balance sheet events
On 5th October 2025, the Company surrendered the lease and closed its G-A-Y Bar venue.
15. | Controlling party
The Company’s immediate parent undertaking is JJ is G-A-Y Limited which holds 100% of the voting rights. The ultimate controlling party is J Joseph by virtue of his 100% shareholding in JJ is G-A-Y Limited. The largest and smallest parent company preparing consolidated accounts is JJ is G-A-Y Limited. The consolidated accounts can be obtained from Companies House.
16. | Auditors' information
The auditors' report on the financial statements for the year ended 30 April 2025 was unqualified. The audit report was signed on 13 January 2026 by Christopher Taylor, FCA (Senior Statutory Auditor) on behalf of Adler Shine LLP.
Page 14