Company registration number 06110605 (England and Wales)
Gico Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
Pages For Filing With Registrar
GICO LIMITED
Gico Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
GICO LIMITED
Gico Limited
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,469
4,905
Investment property
5
5,463,350
5,031,433
Investments
6
4,600
4,600
5,470,419
5,040,938
Current assets
Stocks
51,066
31,666
Debtors
7
1,219,907
1,188,396
Cash at bank and in hand
78,337
171,916
1,349,310
1,391,978
Creditors: amounts falling due within one year
8
(293,178)
(116,439)
Net current assets
1,056,132
1,275,539
Total assets less current liabilities
6,526,551
6,316,477
Creditors: amounts falling due after more than one year
9
(1,500,000)
(1,500,000)
Provisions for liabilities
(985,605)
(980,205)
Net assets
4,040,946
3,836,272
Capital and reserves
Called up share capital
720
720
Share premium account
984,240
984,240
Profit and loss reserves
10
3,055,986
2,851,312
Total equity
4,040,946
3,836,272
GICO LIMITED
Gico Limited
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 March 2026 and are signed on its behalf by:
Mr S H Gill
Director
Company registration number 06110605 (England and Wales)
GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

Gico Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Regent Parade, Harrogate, HG1 5AN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is a subsidiary qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The ultimate parent company is Gico (Holdings) Limited. The registered office of Gico (Holdings) Limited is 6 Regent Parade, Harrogate, HG1 5AN. The company and its parent comprise a small group and as such are exempt from preparing group accounts.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises rentals provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
25% Straight line
Motor vehicles
25% Reducing balance
GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

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

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

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

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

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Amounts written off investments
2025
2024
£
£
Fair value gains/(losses)
Gain/(loss) on financial assets held at fair value through profit or loss
-
0
(1,500)
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024
10,758
Disposals
(4,382)
At 31 August 2025
6,376
Depreciation and impairment
At 1 September 2024
5,853
Depreciation charged in the year
2,010
Eliminated in respect of disposals
(3,956)
At 31 August 2025
3,907
Carrying amount
At 31 August 2025
2,469
At 31 August 2024
4,905
5
Investment property
2025
£
Fair value
At 1 September 2024
5,031,433
Additions
431,917
At 31 August 2025
5,463,350
GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
5
Investment property
(Continued)
- 8 -

Investment property comprises three commercial rental properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the accounting year end by the directors, who are experienced in the property market.

On a historical cost basis these would have been included at the original cost of £1,321,666 (2024 - £889,749).

6
Fixed asset investments
2025
2024
£
£
Other investments other than loans
4,600
4,600
Fixed asset investments revalued

The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
232,090
114,545
Other debtors
987,817
1,073,851
1,219,907
1,188,396
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
39,341
620
Taxation and social security
24,601
20,284
Other creditors
229,236
95,535
293,178
116,439
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,500,000
1,500,000

Bank loans of £1,500,000 (2024 - £1,500,000) are secured by way of fixed and floating charges covering the assets of the company.

GICO LIMITED
Gico Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
10
Profit and loss reserves

Included within retained earnings are unrealised profits of £3,184,879 (20 2 4 - £3,179,379) which relate to cumulative fair value gains made on investment properties, net of deferred tax provided thereon. As these gains are unrealised they are not permitted to be distributed to shareholders.

11
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors loan
2.88
79,191
126,732
3,232
(118,146)
91,009
79,191
126,732
3,232
(118,146)
91,009
2025-08-31 2024-09-01 false false false 20 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr S H Gill Mrs C H Gill 06110605 2024-09-01 2025-08-31 06110605 2025-08-31 06110605 2024-08-31 06110605 core:OtherPropertyPlantEquipment 2025-08-31 06110605 core:OtherPropertyPlantEquipment 2024-08-31 06110605 core:CurrentFinancialInstruments core:WithinOneYear 2025-08-31 06110605 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 06110605 core:WithinOneYear 2025-08-31 06110605 core:WithinOneYear 2024-08-31 06110605 core:AfterOneYear 2025-08-31 06110605 core:AfterOneYear 2024-08-31 06110605 core:CurrentFinancialInstruments 2025-08-31 06110605 core:CurrentFinancialInstruments 2024-08-31 06110605 core:ShareCapital 2025-08-31 06110605 core:ShareCapital 2024-08-31 06110605 core:SharePremium 2025-08-31 06110605 core:SharePremium 2024-08-31 06110605 core:RetainedEarningsAccumulatedLosses 2025-08-31 06110605 core:RetainedEarningsAccumulatedLosses 2024-08-31 06110605 bus:Director1 2024-09-01 2025-08-31 06110605 core:FurnitureFittings 2024-09-01 2025-08-31 06110605 core:MotorVehicles 2024-09-01 2025-08-31 06110605 2023-09-01 2024-08-31 06110605 core:OtherPropertyPlantEquipment 2024-08-31 06110605 core:OtherPropertyPlantEquipment 2024-09-01 2025-08-31 06110605 2024-08-31 06110605 core:Non-currentFinancialInstruments 2025-08-31 06110605 core:Non-currentFinancialInstruments 2024-08-31 06110605 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 06110605 bus:SmallCompaniesRegimeForAccounts 2024-09-01 2025-08-31 06110605 bus:FRS102 2024-09-01 2025-08-31 06110605 bus:AuditExemptWithAccountantsReport 2024-09-01 2025-08-31 06110605 bus:Director2 2024-09-01 2025-08-31 06110605 bus:FullAccounts 2024-09-01 2025-08-31 xbrli:pure xbrli:shares iso4217:GBP