0 0 GASA Group Limited 08496506 false 2024-04-01 2025-03-31 2025-03-31 2025-03-31 The principal activity of the company is that of the sale and rental of portable sanitation services. Digita Accounts Production Advanced 6.30.9574.0 true true true false false 08496506 2024-04-01 2025-03-31 08496506 2025-03-31 08496506 bus:OrdinaryShareClass1 bus:Consolidated 2025-03-31 08496506 bus:Consolidated 2025-03-31 08496506 core:RetainedEarningsAccumulatedLosses 2025-03-31 08496506 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-03-31 08496506 core:ShareCapital 2025-03-31 08496506 core:ShareCapital bus:Consolidated 2025-03-31 08496506 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2025-03-31 08496506 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 08496506 core:HirePurchaseContracts core:CurrentFinancialInstruments bus:Consolidated 2025-03-31 08496506 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 08496506 core:HirePurchaseContracts core:Non-currentFinancialInstruments bus:Consolidated 2025-03-31 08496506 core:CurrentFinancialInstruments 2025-03-31 08496506 core:CurrentFinancialInstruments bus:Consolidated 2025-03-31 08496506 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 08496506 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-03-31 08496506 core:Non-currentFinancialInstruments 2025-03-31 08496506 core:Non-currentFinancialInstruments bus:Consolidated 2025-03-31 08496506 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 08496506 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2025-03-31 08496506 core:Goodwill 2025-03-31 08496506 core:Goodwill bus:Consolidated 2025-03-31 08496506 core:AdditionsToInvestments 2025-03-31 08496506 core:CostValuation 2025-03-31 08496506 core:FurnitureFittingsToolsEquipment 2025-03-31 08496506 core:FurnitureFittingsToolsEquipment bus:Consolidated 2025-03-31 08496506 core:LandBuildings 2025-03-31 08496506 core:LandBuildings bus:Consolidated 2025-03-31 08496506 core:MotorVehicles bus:Consolidated 2025-03-31 08496506 core:DeferredTaxation bus:Consolidated 2025-03-31 08496506 bus:FRS102 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Audited bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:FullAccounts bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:RegisteredOffice bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Director1 2024-04-01 2025-03-31 08496506 bus:Director1 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Director2 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Director3 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Director4 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:HighestPaidDirector bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:OrdinaryShareClass1 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:Consolidated 1 2024-04-01 2025-03-31 08496506 bus:PrivateLimitedCompanyLtd bus:Consolidated 2024-04-01 2025-03-31 08496506 bus:ConsolidatedGroupCompanyAccounts 2024-04-01 2025-03-31 08496506 bus:Agent1 bus:Consolidated 2024-04-01 2025-03-31 08496506 1 2024-04-01 2025-03-31 08496506 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 08496506 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-04-01 2025-03-31 08496506 core:ShareCapital 2024-04-01 2025-03-31 08496506 core:ShareCapital bus:Consolidated 2024-04-01 2025-03-31 08496506 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2024-04-01 2025-03-31 08496506 core:Goodwill 2024-04-01 2025-03-31 08496506 core:Goodwill bus:Consolidated 2024-04-01 2025-03-31 08496506 core:PlantEquipmentUnderOperatingLeases bus:Consolidated 2024-04-01 2025-03-31 08496506 core:FurnitureFittings bus:Consolidated 2024-04-01 2025-03-31 08496506 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 08496506 core:FurnitureFittingsToolsEquipment bus:Consolidated 2024-04-01 2025-03-31 08496506 core:LandBuildings 2024-04-01 2025-03-31 08496506 core:LandBuildings bus:Consolidated 2024-04-01 2025-03-31 08496506 core:LeaseholdImprovements bus:Consolidated 2024-04-01 2025-03-31 08496506 core:MotorVehicles bus:Consolidated 2024-04-01 2025-03-31 08496506 core:OfficeEquipment bus:Consolidated 2024-04-01 2025-03-31 08496506 core:PlantMachinery bus:Consolidated 2024-04-01 2025-03-31 08496506 core:Vehicles bus:Consolidated 2024-04-01 2025-03-31 08496506 core:DeferredTaxation bus:Consolidated 2024-04-01 2025-03-31 08496506 core:UKTax bus:Consolidated 2024-04-01 2025-03-31 08496506 countries:EnglandWales bus:Consolidated 2024-04-01 2025-03-31 08496506 2024-03-31 08496506 bus:Consolidated 2024-03-31 08496506 core:RetainedEarningsAccumulatedLosses 2024-03-31 08496506 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-03-31 08496506 core:ShareCapital 2024-03-31 08496506 core:ShareCapital bus:Consolidated 2024-03-31 08496506 core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests bus:Consolidated 2024-03-31 08496506 core:Goodwill 2024-03-31 08496506 core:Goodwill bus:Consolidated 2024-03-31 08496506 core:CostValuation 2024-03-31 08496506 core:FurnitureFittingsToolsEquipment 2024-03-31 08496506 core:FurnitureFittingsToolsEquipment bus:Consolidated 2024-03-31 08496506 core:LandBuildings 2024-03-31 08496506 core:LandBuildings bus:Consolidated 2024-03-31 08496506 core:MotorVehicles bus:Consolidated 2024-03-31 08496506 core:DeferredTaxation bus:Consolidated 2024-03-31 08496506 2023-04-01 2024-03-31 08496506 2024-03-31 08496506 bus:OrdinaryShareClass1 bus:Consolidated 2024-03-31 08496506 bus:Consolidated 2024-03-31 08496506 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 08496506 core:HirePurchaseContracts core:CurrentFinancialInstruments bus:Consolidated 2024-03-31 08496506 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 08496506 core:HirePurchaseContracts core:Non-currentFinancialInstruments bus:Consolidated 2024-03-31 08496506 core:CurrentFinancialInstruments 2024-03-31 08496506 core:CurrentFinancialInstruments bus:Consolidated 2024-03-31 08496506 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08496506 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-03-31 08496506 core:Non-currentFinancialInstruments 2024-03-31 08496506 core:Non-currentFinancialInstruments bus:Consolidated 2024-03-31 08496506 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08496506 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2024-03-31 08496506 core:Goodwill 2024-03-31 08496506 core:Goodwill bus:Consolidated 2024-03-31 08496506 core:FurnitureFittingsToolsEquipment 2024-03-31 08496506 core:FurnitureFittingsToolsEquipment bus:Consolidated 2024-03-31 08496506 core:LandBuildings 2024-03-31 08496506 core:LandBuildings bus:Consolidated 2024-03-31 08496506 core:MotorVehicles bus:Consolidated 2024-03-31 08496506 bus:HighestPaidDirector bus:Consolidated 2023-04-01 2024-03-31 08496506 bus:Consolidated 2023-04-01 2024-03-31 08496506 bus:Consolidated 1 2023-04-01 2024-03-31 08496506 1 2023-04-01 2024-03-31 08496506 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08496506 core:ShareCapital 2023-04-01 2024-03-31 08496506 core:PlantEquipmentUnderOperatingLeases bus:Consolidated 2023-04-01 2024-03-31 08496506 core:UKTax bus:Consolidated 2023-04-01 2024-03-31 08496506 2023-03-31 08496506 bus:Consolidated 2023-03-31 08496506 core:RetainedEarningsAccumulatedLosses 2023-03-31 08496506 core:ShareCapital 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08496506

GASA Group Limited
Annual Report and Consolidated Financial Statements
for the Year Ended 31 March 2025

GASA Group Limited

Contents

Company Information | 1
Strategic Report | 2 to 4
Directors' Report | 5
Statement of Directors' Responsibilities | 6
Independent Auditor's Report | 7 to 10
Consolidated Profit and Loss Account and Statement of Retained Earnings | 11
Consolidated Statement of Comprehensive Income | 12
Consolidated Balance Sheet | 13
Balance Sheet | 14
Consolidated Statement of Changes in Equity | 15
Statement of Changes in Equity | 16
Consolidated Statement of Cash Flows | 17
Statement of Cash Flows | 18
Notes to the Financial Statements | 19 to 31

GASA Group Limited

Company Information

Directors | Mr Geoffrey Desmond Gilbert Miss Amy Claire Gilbert Mrs Sonia Gilbert Mr Adam Thomas Gilbert

Registered office | Wellesley House 204 London Road Waterlooville Hampshire United Kingdom PO7 7AN

Auditors | MMO Audit Services Limited Chartered Accountants and Statutory AuditorsWellesley House 204 London Road Waterlooville Hampshire PO7 7AN

GASA Group Limited

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Principal activity

The principal activity of the group is that of the sale and rental of portable sanitation services.

Fair review of the business

This has been a year of meaningful progress for the business. Despite facing a demanding cost environment and labour inflation across the sector, the company delivered stable revenues, strengthened operational resilience, and continued to invest significantly in its fleet, people, and infrastructure. We have maintained a clear focus on service quality, commercial discipline, and long-term sustainability foundations which have underpinned Site-Equip’s consistent performance over many years.

Importantly, the financial year also marked a strategic milestone in the company’s growth journey. In February 2025, the business strengthened its geographical dominance through the acquisition of Rabbit & Dowling Toilet Hire, expanding Site-Equip’s footprint, customer base, and regional presence. The Board firmly believes that targeted acquisitions of this nature will continue to enhance our market position in what remains a heavily fragmented, owner-operator-dominated industry.

Looking forward, our strategy is clear: to grow organically through service excellence and operational efficiency, and to grow inorganically by acquiring businesses that align with our quality standards, culture, and long-term ambition. With a strong balance sheet, a modern fleet, and an experienced leadership team, Site-Equip is well-placed to seize opportunities as they arise.

We would like to thank our employees at every level of the company. Their hard work, professionalism, and commitment to our customers remain central to our continued success. The Board remains confident in the business’s ability to deliver profitable, sustainable growth in the years ahead.

REVIEW OF BUSINESS

During the year ended 31 March 2025, Site-Equip delivered a stable trading performance with turnover of £7,798,672, an increase on the prior year (£7,112,641). Activity across construction, housing and events remained resilient, despite broader market pressures including cost inflation, regulatory compliance increases, and higher labour costs.

Gross profit for the year was £3,499,539 (2024: £4,892,073). This reduction predominantly reflects increased direct labour expenditure which increased reported cost of sales.

Group administrative expenses remained well-controlled at £2,351,557 (2024: £3,705,955), illustrating the Board’s commitment to disciplined overhead management. Overall, the group achieved an operating profit of £1,147,982 (2024: £1,186,118) and profit before tax of £1,960,989 (2024: £2,954,223).

Site-Equip Ltd continued to reinvest in its fleet and infrastructure, with capital additions of £1,455,783 during the year. A sizable investment was made into Sleeper Cabins as a new product in the portfolio. Whilst maintaining a modern, reliable fleet remains essential to ensuring quality, reliability and operational capability for both construction and events.

Group net assets increased to £7,147,538 (2024: £6,720,571). Intra-group dividends paid during the year amounted to £900,000, lower than the prior year, allowing Site-Equip Ltd to strengthen its retained reserves.

STRATEGIC DEVELOPMENT – ACQUISITION & MARKET POSITION

GASA Group Limited

Strategic Report for the Year Ended 31 March 2025

In February 2025, Site-Equip completed the acquisition of Rabbit & Dowling Toilet Hire, further strengthening its geographical coverage and consolidating its presence across London, the South and Southeast of England. This acquisition enhances route efficiency, widens the customer base, and supports the business’s long-term fleet strategy.

The Board notes that the portable sanitation and welfare hire market remains highly fragmented, with a large proportion of operators being small, local owner-managed businesses. This landscape presents a clear opportunity for Site-Equip to continue disciplined expansion through targeted acquisitions while maintaining service quality and operational integrity.

The company’s outlook remains positive. Its strategy for the coming years includes:

• Continuing to grow organically through service, reliability, and customer experience

• Strengthening route density and operational efficiency

• Pursuing selective acquisitions to expand regional footprint and consolidate market share

• Continuing fleet modernisation and environmental improvements

KEY PERFORMANCE INDICATORS

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs | Unit | 2025 | 2024
Turnover | £ | 7,798,672 | 7,112,641
Operating profit | £ | 1,424,304 | 1,409,355
EBITDA | £ | 2,189,713 | 2,276,269
Net assets | £ | 1,200,604 | 1,189,605

PRINCIPAL RISKS & UNCERTAINTIES

1. Cost Inflation & Supply Chain Volatility

The business remains exposed to fluctuations in material prices, labour costs, and transport expenses.Mitigation:long-term supplier relationships, competitive procurement practices, stock management improvements and a modern fleet strategy.

2. Market Conditions in Construction & Events

Demand may fluctuate depending on construction cycles, weather-related delays, and public event activity.Mitigation:diversified customer base across construction, events, rail, emergency response and housing.

3. Operational Risk

Risks arise from equipment failure, staff availability, compliance, and process inefficiencies.Mitigation:strong H&S culture, investment in systems (Syrinx, Route4Me, Samsara), training, process reviews, and fleet renewal.

4. Liquidity & Cash Flow Risk

The company must maintain available working capital to meet obligations.Mitigation:strong cash discipline, increased credit control, and regular financial monitoring.

5. Competitive & Price Risk

Competition from local and national hire companies may exert price pressure.Mitigation:focus on service quality, rapid response times, modern fleet, and route optimisation.

GASA Group Limited

Strategic Report for the Year Ended 31 March 2025

6. Acquisition & Integration Risk

Increased M&A activity introduces integration, cultural, and operational risks.Mitigation:structured due-diligence processes, phased integration plans, retention of key staff, and maintaining service continuity.

7. Credit Risk

Exposure to customer defaults.Mitigation:credit checks, account limits, proactive collections, and monitoring of overdue balances.

OUTLOOK

The Board is confident in the company’s prospects. With an established regional presence, a modern fleet, and a strong leadership team, Site-Equip is well positioned to continue its growth trajectory. The Board intends to pursue further expansion through both organic development and strategic acquisitions—capitalising on the opportunities within a fragmented, owner-operator-dominated market.

The directors consider that the company remains in a strong financial and operational position to take advantage of these opportunities as they arise.

Approved and authorised by the Board on 2 March 2026 and signed on its behalf by:

......................................... Mr Geoffrey Desmond Gilbert Director

GASA Group Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the for the year ended 31 March 2025.

Directors of the group

The directors who held office during the year were as follows:

Mr Geoffrey Desmond Gilbert

Miss Amy Claire Gilbert

Mrs Sonia Gilbert

Mr Adam Thomas Gilbert

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Approved and authorised by the Board on 2 March 2026 and signed on its behalf by:

......................................... Mr Geoffrey Desmond Gilbert Director

GASA Group Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

GASA Group Limited

Independent Auditor's Report to the Members of GASA Group Limited

Qualified opinion

We have audited the financial statements of GASA Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Profit and Loss Account and Statement of Retained Earnings, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion on financial statements

We were not appointed as auditor of the company until after 31 March 2024 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2024, which are included in the balance sheet at £731,326, by using other audit procedures.
Consequently we were unable to determine whether any adjustment to this amount was necessary.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Key audit matters

In addition to the matter described in the basis for qualified opinion section, we have determined the matters described below to be the key audit matters to be communicated in our report.
The corresponding figures in the financial statements have not been audited as the group qualified for the small group exemption from audit in that year.

GASA Group Limited

Independent Auditor's Report to the Members of GASA Group Limited

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities of £731,326 held at 31 March 2024. We have concluded that where the other information refers to the inventory balance or related balances such as cost of sales, it may be materially misstated for the same reason.

Opinion on other matter prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
• | the parent company financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

GASA Group Limited

Independent Auditor's Report to the Members of GASA Group Limited

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 6], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• | Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
• | Reviewing minutes of meetings of those charged with governance;
• | Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
• | Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• | Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias;
• | Communication with the component auditors and review of their audit working papers as required to assess whether there have been any instances of non-compliance with laws and regulations that could give rise to a risk of material misstatement to the group.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

GASA Group Limited

Independent Auditor's Report to the Members of GASA Group Limited

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Mrs Gillian McIntosh (Senior Statutory Auditor)
For and on behalf of MMO Audit Services Limited, Statutory Auditor
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

5 March 2026

GASA Group Limited

Consolidated Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 7,798,672 | 7,112,641
Cost of sales |  | (4,299,133) | (2,220,568)
Gross profit |  | 3,499,539 | 4,892,073
Administrative expenses |  | (2,351,557) | (3,705,955)
Operating profit | 5 | 1,147,982 | 1,186,118
Other interest receivable and similar income | 6 | 2 | -
Interest payable and similar charges | 7 | (86,995) | (76,895)
|  | (86,993) | (76,895)
Profit before tax |  | 1,060,989 | 1,109,223
Taxation | 10 | (443,022) | (336,285)
Profit for the financial year |  | 617,967 | 772,938
Profit/(loss) attributable to: |  |  |
Owners of the company |  | 617,967 | 772,938
Retained earnings brought forward |  | 6,720,371 | 6,615,433
Dividends paid |  | (220,000) | (668,000)
Retained earnings carried forward |  | 7,118,338 | 6,720,371

GASA Group Limited

Consolidated Statement of Comprehensive Income for the Year Ended 31 March 2025

| 2025 £ | 2024 £
Profit for the year | 617,967 | 772,938
Remeasurement gain on defined benefit pension schemes | 29,000 | -
Total comprehensive income for the year | 646,967 | 772,938
Total comprehensive income attributable to: |  |
Owners of the company | 646,967 | 772,938

GASA Group Limited

(Registration number: 08496506)
Consolidated Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 11 | 322,212 | 348,000
Tangible assets | 12 | 5,264,283 | 5,444,777
Investments | 13 | 914,573 | 884,573
|  | 6,501,068 | 6,677,350
Current assets |  |  |
Stocks | 14 | - | 731,326
Debtors | 15 | 3,784,462 | 4,146,263
Cash at bank and in hand |  | 442,046 | 381,913
|  | 4,226,508 | 5,259,502
Creditors: Amounts falling due within one year | 17 | (2,541,719) | (3,463,849)
Net current assets |  | 1,684,789 | 1,795,653
Total assets less current liabilities |  | 8,185,857 | 8,473,003
Creditors: Amounts falling due after more than one year | 17 | (332,445) | (726,795)
Provisions for liabilities | 18 | (705,874) | (582,637)
Net assets excluding pension asset/(liability) |  | 7,147,538 | 7,163,571
Net pension liability 1 | 19 | - | (443,000)
Net assets |  | 7,147,538 | 6,720,571
Capital and reserves |  |  |
Called up share capital | 20 | 200 | 200
Retained earnings |  | 7,147,338 | 6,720,371
Equity attributable to owners of the company |  | 7,147,538 | 6,720,571
Shareholders' funds |  | 7,147,538 | 6,720,571

Approved and authorised by the Board on 2 March 2026 and signed on its behalf by:

......................................... Mr Geoffrey Desmond Gilbert Director

GASA Group Limited

(Registration number: 08496506)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 11 | 304,500 | 348,000
Tangible assets | 12 | 1,932,709 | 2,717,829
Investments | 13 | 914,673 | 884,673
|  | 3,151,882 | 3,950,502
Current assets |  |  |
Debtors | 15 | 2,506,299 | 2,332,758
Cash at bank and in hand |  | 400,121 | 222,156
|  | 2,906,420 | 2,554,914
Creditors: Amounts falling due within one year | 17 | (111,268) | (755,795)
Net current assets |  | 2,795,152 | 1,799,119
Total assets less current liabilities |  | 5,947,034 | 5,749,621
Creditors: Amounts falling due after more than one year | 17 | - | (218,555)
Net assets |  | 5,947,034 | 5,531,066
Capital and reserves |  |  |
Called up share capital | 20 | 200 | 200
Retained earnings |  | 5,946,834 | 5,530,866
Shareholders' funds |  | 5,947,034 | 5,531,066

The company made a profit after tax for the financial year of £635,968 (2024 - profit of £1,601,893).

Approved and authorised by the Board on 2 March 2026 and signed on its behalf by:

......................................... Mr Geoffrey Desmond Gilbert Director

GASA Group Limited

Consolidated Statement of Changes in Equity for the Year Ended 31 March 2025
Equity attributable to the parent company

| Share capital £ | Retained earnings £ | Total £ | Total equity £
At 1 April 2024 | 200 | 6,720,371 | 6,720,571 | 6,720,571
Profit for the year | - | 617,967 | 617,967 | 617,967
Other comprehensive income | - | 29,000 | 29,000 | 29,000
Total comprehensive income | - | 646,967 | 646,967 | 646,967
Dividends | - | (220,000) | (220,000) | (220,000)
At 31 March 2025 | 200 | 7,147,338 | 7,147,538 | 7,147,538

GASA Group Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Retained earnings £ | Total £
At 1 April 2024 | 200 | 5,530,866 | 5,531,066
Profit for the year | - | 635,968 | 635,968
Dividends | - | (220,000) | (220,000)
At 31 March 2025 | 200 | 5,946,834 | 5,947,034

| Share capital £ | Retained earnings £ | Total £
At 1 April 2023 | 200 | 4,596,973 | 4,597,173
Profit for the year | - | 1,601,893 | 1,601,893
Dividends | - | (668,000) | (668,000)
At 31 March 2024 | 200 | 5,530,866 | 5,531,066

GASA Group Limited

Consolidated Statement of Cash Flows for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 617,967 | 772,938
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 943,712 | 1,090,151
(Profit)/loss on disposal of tangible assets | 4 | (70,051) | 20,891
Finance income | 6 | (2) | -
Finance costs | 7 | 86,995 | 76,895
Income tax expense | 10 | 443,022 | 336,285
|  | 2,021,643 | 2,297,160
Working capital adjustments |  |  |
Decrease/(increase) in stocks | 14 | 731,326 | (58,076)
Decrease/(increase) in trade debtors | 15 | 361,801 | (766,689)
(Decrease)/increase in trade creditors | 17 | (768,569) | 92,440
Decrease in retirement benefit obligation net of actuarial changes | 19 | (414,000) | -
Rounding |  | (1) | (1)
Cash generated from operations |  | 1,932,200 | 1,564,834
Income taxes paid | 10 | (371,481) | (47,816)
Net cash flow from operating activities |  | 1,560,719 | 1,517,018
Cash flows from investing activities |  |  |
Interest received |  | 2 | -
Acquisitions of tangible assets |  | (1,455,783) | (697,631)
Proceeds from sale of tangible assets |  | 810,545 | 91,585
Acquisition of intangible assets | 11 | (22,140) | -
Acquisition of investments in joint ventures and associates | 13 | (30,000) | -
Net cash flows from investing activities |  | (697,376) | (606,046)
Cash flows from financing activities |  |  |
Interest paid | 7 | (86,995) | (76,895)
Proceeds from bank borrowing draw downs |  | (243,806) | (54,394)
Payments to finance lease creditors |  | (252,409) | (516,276)
Dividends paid |  | (220,000) | (668,000)
Net cash flows from financing activities |  | (803,210) | (1,315,565)
Net increase/(decrease) in cash and cash equivalents |  | 60,133 | (404,593)
Cash and cash equivalents at 1 April |  | 381,913 | 786,506
Cash and cash equivalents at 31 March |  | 442,046 | 381,913

GASA Group Limited

Statement of Cash Flows for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 635,968 | 1,601,893
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 5 | 178,303 | 223,237
Loss on disposal of tangible assets | 4 | 63,009 | -
Finance income |  | (900,000) | (1,845,000)
Finance costs |  | (12,290) | 19,870
|  | (35,010) | -
Working capital adjustments |  |  |
Increase in trade debtors | 15 | (173,541) | (1,683,950)
(Decrease)/increase in trade creditors | 17 | (628,527) | 73,018
Net cash flow from operating activities |  | (837,078) | (1,610,932)
Cash flows from investing activities |  |  |
Interest received |  | 900,000 | 1,845,000
Acquisition of subsidiaries | 13 | (30,000) | -
Proceeds from sale of tangible assets |  | 587,308 | -
Net cash flows from investing activities |  | 1,457,308 | 1,845,000
Cash flows from financing activities |  |  |
Interest paid |  | 12,290 | (19,870)
Proceeds from bank borrowing draw downs |  | (234,555) | (4,394)
Dividends paid |  | (220,000) | (668,000)
Net cash flows from financing activities |  | (442,265) | (692,264)
Net increase/(decrease) in cash and cash equivalents |  | 177,965 | (458,196)
Cash and cash equivalents at 1 April |  | 222,156 | 680,352
Cash and cash equivalents at 31 March |  | 400,121 | 222,156

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
United Kingdom

These financial statements were authorised for issue by the Board on 2 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2025.

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

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 group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Fixtures and fittings | 20% reducing balance
Motor vehicles | 25% reducing balance
Land and buildings | nil
Leasehold improvements | over 5 years
Office equipment | over 3 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Asset class | Amortisation method and rate
Goodwill | 5 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Turnover

The analysis of the group's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Sale of goods | 7,798,672 | 7,112,641

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4 | Other gains and losses

The analysis of the group's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain/(loss) on disposal of Tangible assets | 70,051 | (20,891)

5 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 895,784 | 1,046,651
Amortisation expense | 47,928 | 43,500
Operating lease expense - plant and machinery | 13,339 | 15,391
(Profit)/loss on disposal of property, plant and equipment | (70,051) | 20,891

6 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 2 | -

7 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on bank overdrafts and borrowings | 28,459 | 19,870
Interest on obligations under finance leases and hire purchase contracts | 58,536 | 56,759
Interest expense on other finance liabilities | - | 266
| 86,995 | 76,895

8 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 2,139,967 | 1,762,502
Social security costs | 184,378 | 164,675
Pension costs, defined contribution scheme | (289,190) | 118,836
Other employee expense | 4,829 | 6,195
| 2,039,984 | 2,052,208

The average number of persons employed by the company (including directors) during the year, was 76 (2024 - 73).

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

9 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 127,533 | 94,200
Contributions paid to money purchase schemes | (316,359) | 101,004
| (188,826) | 195,204

In respect of the highest paid director:

| 2025 £ | 2024 £
Remuneration | 87,083 | 39,000

10 | Taxation

Tax charged/(credited) in the consolidated profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 318,702 | 370,398
UK corporation tax adjustment to prior periods | 1,083 | -
| 319,785 | 370,398
Deferred taxation |  |
Arising from origination and reversal of timing differences | 123,237 | (34,113)
Tax expense in the income statement | 443,022 | 336,285

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

11 | Intangible assets

Group

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 435,000 | 435,000
Additions acquired separately | 22,140 | 22,140
At 31 March 2025 | 457,140 | 457,140
Amortisation
At 1 April 2024 | 87,000 | 87,000
Amortisation charge | 47,928 | 47,928
At 31 March 2025 | 134,928 | 134,928
Carrying amount
At 31 March 2025 | 322,212 | 322,212
At 31 March 2024 | 348,000 | 348,000

Company

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 435,000 | 435,000
At 31 March 2025 | 435,000 | 435,000
Amortisation
At 1 April 2024 | 87,000 | 87,000
Amortisation charge | 43,500 | 43,500
At 31 March 2025 | 130,500 | 130,500
Carrying amount
At 31 March 2025 | 304,500 | 304,500
At 31 March 2024 | 348,000 | 348,000

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

12 | Tangible assets

Group

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 2,952,713 | 5,306,048 | 1,762,686 | 10,021,447
Additions | 67,819 | 1,282,644 | 105,320 | 1,455,783
Disposals | (650,317) | (152,071) | (137,581) | (939,969)
At 31 March 2025 | 2,370,215 | 6,436,621 | 1,730,425 | 10,537,261
Depreciation
At 1 April 2024 | 641,076 | 3,216,853 | 718,740 | 4,576,669
Charge for the year | 51,511 | 593,175 | 251,098 | 895,784
Eliminated on disposal | - | (143,096) | (56,379) | (199,475)
At 31 March 2025 | 692,587 | 3,666,932 | 913,459 | 5,272,978
Carrying amount
At 31 March 2025 | 1,677,628 | 2,769,689 | 816,966 | 5,264,283
At 31 March 2024 | 2,311,637 | 2,089,194 | 1,043,946 | 5,444,777

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings, £1,528,301 (2024 - £2,178,618) in respect of long leasehold land and buildings and £149,328 (2024 - £133,019) in respect of short leasehold land and buildings.

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Company

| Land and buildings £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 April 2024 | 2,178,618 | 734,245 | 2,912,863
Disposals | (650,317) | - | (650,317)
At 31 March 2025 | 1,528,301 | 734,245 | 2,262,546
Depreciation
At 1 April 2024 | - | 195,034 | 195,034
Charge for the year | - | 134,803 | 134,803
At 31 March 2025 | - | 329,837 | 329,837
Carrying amount
At 31 March 2025 | 1,528,301 | 404,408 | 1,932,709
At 31 March 2024 | 2,178,618 | 539,211 | 2,717,829

Included within the net book value of land and buildings above is £1,528,301 (2024 - £2,178,618) in respect of long leasehold land and buildings.

13 | Investments

Company

| 2025 £ | 2024 £
Investments in subsidiaries | 914,673 | 884,673

Subsidiaries | £
Cost or valuation
At 1 April 2024 | 884,673
Additions | 30,000
At 31 March 2025 | 914,673
Provision
Carrying amount
At 31 March 2025 | 914,673
At 31 March 2024 | 884,673

14 | Stocks

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Other inventories | - | 731,326 | - | -

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

15 | Debtors

|  | Group | Company
Current | Note | 2025 £ | 2024 £ | 2025 £ | 2024 £
Trade debtors |  | 677,632 | 645,006 | - | -
Amounts owed by related parties |  | 2,717,075 | 3,414,161 | 2,506,099 | 2,332,558
Other debtors |  | 68,870 | 854 | 200 | 200
Prepayments |  | 320,885 | 86,242 | - | -
|  | 3,784,462 | 4,146,263 | 2,506,299 | 2,332,758

16 | Cash and cash equivalents

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Cash at bank | 442,046 | 381,913 | 400,121 | 222,156

17 | Creditors

|  | Group | Company
| Note | 2025 £ | 2024 £ | 2025 £ | 2024 £
Due within one year |  |  |  |  |
Loans and borrowings | 21 | 540,857 | 642,722 | - | 16,000
Trade creditors |  | 428,541 | 233,931 | - | -
Amounts due to related parties |  | 257,029 | 1,030,040 | 111,268 | 511,580
Social security and other taxes |  | 289,482 | 258,508 | - | -
Outstanding defined contribution pension costs |  | 5,536 | - | - | -
Other payables |  | 256,324 | 250,156 | - | 228,215
Accruals |  | 445,248 | 678,094 | - | -
Corporation tax liability | 10 | 318,702 | 370,398 | - | -
|  | 2,541,719 | 3,463,849 | 111,268 | 755,795
Due after one year |  |  |  |  |
Loans and borrowings | 21 | 332,445 | 726,795 | - | 218,555

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

18 | Provisions for liabilities

Group

| Deferred tax £ | Total £
At 1 April 2024 | 582,637 | 582,637
Increase (decrease) in existing provisions | 123,237 | 123,237
At 31 March 2025 | 705,874 | 705,874

GASA Group Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

19 | Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £(289,190) (2024 - £118,836).
Contributions totalling £5,536 (2024 - £Nil) were payable to the scheme at the end of the year and are included in creditors.

20 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 200 | 200 | 200 | 200

21 | Loans and borrowings

Non-current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Bank borrowings | 62,757 | 285,222 | - | 218,555
Hire purchase contracts | 269,688 | 441,573 | - | -
| 332,445 | 726,795 | - | 218,555

Current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Bank borrowings | 44,659 | 66,000 | - | 16,000
Hire purchase contracts | 496,198 | 576,722 | - | -
| 540,857 | 642,722 | - | 16,000