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# GSF DEVELOPMENTS LIMITED

## Company Registration Number:
10203102 (England and Wales)

## Unaudited statutory accounts for the year ended 30 June 2025

## Period of accounts

## Start date: 1 July 2024

## End date: 30 June 2025

# GSF DEVELOPMENTS LIMITED

## Contents of the Financial Statements

for the Period Ended 30 June 2025

Directors report |
Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |

# GSF DEVELOPMENTS LIMITED

Directors' report period ended 30 June 2025

The directors present their report with the financial statements of the company for the period ended 30 June 2025

Principal activities of the company

The company engages in the wholesale of soft beverages such as juices, mineral water, and soft drinks, as well as vegetables, groceries, meat, spices, and other intermediate products.

Company policy on disabled employees

The company is committed to providing equal opportunities to disabled employees and ensuring a fair and inclusive working environment. It supports their recruitment, training, career development, and retention, with reasonable adjustments made to accommodate their needs.

Additional information

The company has maintained a stable financial position and efficient operations. The management has applied appropriate policies consistently, made reasonable and prudent judgements and estimates, and have prepared the report on a going concern basis. The company remains committed to maintaining high standards of corporate governance and internal control to safeguard its assets and ensure the reliability of information. The management also acknowledge their responsibility for complying with applicable laws and regulations and for taking all reasonable steps to prevent and detect fraud and other irregularities.

Directors

The director shown below has held office during the whole of the period from
1 July 2024 to 30 June 2025

Michael John Davies Hernandez

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 February 2026

And signed on behalf of the board by:
Name: Michael John Davies Hernandez
Status: Director

# GSF DEVELOPMENTS LIMITED

## Profit And Loss Account

for the Period Ended 30 June 2025

| 2025 | 2024
--- | --- | ---
| £ | £
Turnover: | 13,399,088 | 10,152,172
Cost of sales: | ( 6,931,991 ) | ( 4,478,920 )
Gross profit(or loss): | 6,467,097 | 5,673,252
Distribution costs: | ( 1,134,032 ) | ( 1,198,506 )
Administrative expenses: | ( 956,556 ) | ( 784,556 )
Other operating income: | 123,419 |
Operating profit(or loss): | 4,499,928 | 3,690,190
Profit(or loss) before tax: | 4,499,928 | 3,690,190
Tax: | ( 1,124,982 ) | ( 972,552 )
Profit(or loss) for the financial year: | 3,374,946 | 2,717,638

# GSF DEVELOPMENTS LIMITED

## Balance sheet

As at 30 June 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 4,695 | 0
Tangible assets: | 4 | 643,281 | 724,204
Investments: | 5 | 950,000 |
Total fixed assets: |  | 1,597,976 | 724,204
Current assets
Stocks: | 6 | 593,211 | 387,644
Debtors: | 7 | 234,454 | 21,309
Cash at bank and in hand: |  | 799,340 | 1,481,772
Investments: | 8 | 125,577 |
Total current assets: |  | 1,752,582 | 1,890,725
Prepayments and accrued income: |  | 67,669 | 150,993
Creditors: amounts falling due within one year: | 9 | ( 32,191 ) | ( 48,184 )
Net current assets (liabilities): |  | 1,788,060 | 1,993,534
Total assets less current liabilities: |  | 3,386,036 | 2,717,738
Accruals and deferred income: |  | ( 10,990 ) |
Total net assets (liabilities): |  | 3,375,046 | 2,717,738
Capital and reserves
Called up share capital: |  | 100 | 100
Profit and loss account: |  | 3,374,946 | 2,717,638
Total Shareholders' funds: |  | 3,375,046 | 2,717,738

The notes form part of these financial statements

# GSF DEVELOPMENTS LIMITED

## Balance sheet statements

For the year ending 30 June 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 3 February 2026
and signed on behalf of the board by:

Name: Michael John Davies Hernandez
Status: Director

The notes form part of these financial statements

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Turnover policy

  Turnover represents the total value of goods sold and services provided by the company during the financial year, excluding value added tax (VAT) and any other recoverable taxes. The company recognises turnover in accordance with IFRS principles, ensuring revenue is recorded accurately, consistently, and in line with the transfer of control of goods or services to customers. For the wholesale of products, turnover is recognised when the significant risks and rewards of ownership are transferred to the customer, generally upon delivery or acceptance of the goods. The consideration received or receivable is measured at fair value, net of trade discounts, rebates, or returns. For business support services, turnover is recognised when the services are performed and the company has an enforceable right to payment. Where services are delivered over a period of time, revenue is recognised proportionately over the service duration. For long-term contracts or multi-stage projects, turnover is recognised based on the stage of completion, with regular assessment of costs incurred relative to total estimated costs, ensuring that expected losses, if any, are recognised immediately. The company periodically reviews its turnover recognition practices to ensure compliance with accounting standards, consistency across reporting periods, and accurate reflection of operational performance. All significant judgements, estimates, or assumptions used in determining turnover are reassessed regularly to reflect current market conditions and contractual arrangements.

  Tangible fixed assets depreciation policy

  Depreciation is recorded at the following annual rates to write off each asset over its estimated useful life: Machinery & Equipment (15% on reducing balance). Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

  Valuation information and policy

  The company adopts a fair value approach to valuing its assets and liabilities. This approach ensures that assets and liabilities are recorded at their estimated fair market values, providing a more accurate reflection of the company's financial position. The valuation process is conducted by qualified professionals using appropriate valuation methodologies and considering relevant market data and industry practices. Regular reviews and updates of valuations are performed to maintain accuracy and relevance.

  Other accounting policies

  Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

- ## 2. Employees

  | 2025 | 2024
  --- | --- | ---
  Average number of employees during the period | 18 | 7

  The company follows a structured approach to recruitment and staffing to ensure it attracts and retains qualified and skilled personnel. Recruitment is carried out based on the company’s operational needs, with a focus on merit, experience, and potential. Job vacancies are advertised through appropriate channels, and candidates undergo a thorough selection process, including interviews and reference checks. The company also invests in onboarding and induction programs to integrate new employees effectively, while continually monitoring workforce levels and skills to support business growth and succession planning. The company values its employees as a key asset and is committed to maintaining a supportive and inclusive workplace. As of the reporting date, the company employs a diverse workforce across various departments, including management, operations, finance, and technical roles. Employees are provided with training and development opportunities to enhance their skills and career progression. The company also places emphasis on employee well-being, health, and safety, implementing policies and practices in accordance with relevant laws and best practices. Equal opportunities are provided regardless of gender, disability, religion, or ethnic background. During the year, the company continued to engage with employees through regular communications, feedback mechanisms, and performance appraisals to ensure alignment with the company’s objectives and foster a positive working environment.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 3. Intangible assets

| Goodwill | Other | Total
--- | --- | --- | ---
Cost | £ | £ | £
At 1 July 2024 | 0 | 0 | 0
Additions | 5,000 |  | 5,000
Disposals |  |  |
Revaluations |  |  |
Transfers |  |  |
At 30 June 2025 | 5,000 | 0 | 5,000
Amortisation |  |  |
At 1 July 2024 | 0 | 0 | 0
Charge for year | 305 |  | 305
On disposals |  |  |
Other adjustments |  |  |
At 30 June 2025 | 305 | 0 | 305
Net book value |  |  |
At 30 June 2025 | 4,695 | 0 | 4,695
At 30 June 2024 | 0 | 0 | 0

During the year, the company acquired the food startup "Mirchi Hud", recognising a goodwill of £5,000 over the net fair value of its identifiable assets and liabilities. The goodwill is being amortised using the declining balance method, and the carrying amount reported in the financial statements reflects the net value after amortisation.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 4. Tangible assets

| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total
--- | --- | --- | --- | --- | --- | ---
Cost | £ | £ | £ | £ | £ | £
At 1 July 2024 |  | 533,000 | 105,680 | 88,500 |  | 727,180
Additions |  | 27,000 |  | 758 |  | 27,758
Disposals |  |  |  |  |  |
Revaluations |  |  |  |  |  |
Transfers |  |  |  |  |  |
At 30 June 2025 |  | 560,000 | 105,680 | 89,258 |  | 754,938
Depreciation |  |  |  |  |  |
At 1 July 2024 |  | 1,783 | 679 | 514 |  | 2,976
Charge for year |  | 79,733 | 15,750 | 13,198 |  | 108,681
On disposals |  |  |  |  |  |
Other adjustments |  |  |  |  |  |
At 30 June 2025 |  | 81,516 | 16,429 | 13,712 |  | 111,657
Net book value |  |  |  |  |  |
At 30 June 2025 |  | 478,484 | 89,251 | 75,546 |  | 643,281
At 30 June 2024 |  | 531,217 | 105,001 | 87,986 |  | 724,204

Additions during the year represent purchase of machinery for company operations and office equipment for administrative work. There were no disposals, revaluations, or transfers during the year. The balances at 30 June 2025 represent the historical cost of the assets net of their accumulated depreciation.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 5. Fixed assets investments note

The company holds long-term investments that are carried at cost and are intended to be retained for the foreseeable future. No indicators of impairment were identified during the year, and therefor no adjustment to the carrying value has been considered necessary. The carrying amount of fixed asset investments at the year end is £950,000. The directors continually review the performance and strategic relevance of these investments to ensure they align with the long-term objectives of the company and deliver sustainable value.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 6. Stocks

| 2025 | 2024
--- | --- | ---
| £ | £
Stocks | 593,211 | 387,644
Total | 593,211 | 387,644

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 7. Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 213,560 | 20,620
Prepayments and accrued income | 1,671 | 544
Other debtors | 19,223 | 145
Total | 234,454 | 21,309

Debtors amounts represent amounts due from our customers for facilities provided on credit, prepayments for services and receivables. As of 30 June 2025, debtors totalled at £234,454. Management is confident of recovering these amounts in the coming months. The company also maintains an allowance for doubtful debts to account for potential losses from uncollectable debts. The allowance is based on a review of the aging of the receivables and other factors. As of 33 June 2025, there is no allowance for doubtful debts.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 8. Current assets investments note

The company holds current asset investments that are readily marketable and are intended to be held for short-term liquidity purposes. These investments are carried at cost, adjusted for any known impairment where applicable. During the year, no indicators of impairment were identified, and no adjustment to the carrying value was considered necessary. The carrying amount of current asset investments at the year-end is £125,577. The directors regularly monitor these investments to ensure they continue to meet the company’s short-term financial objectives and provide optimal liquidity management.

# GSF DEVELOPMENTS LIMITED

## Notes to the Financial Statements

for the Period Ended 30 June 2025

## 9. Creditors: amounts falling due within one year note

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts |  | 1,000
Trade creditors | 22,146 | 42,378
Taxation and social security | 253 | 392
Accruals and deferred income | 7,340 | 4,322
Other creditors | 2,452 | 92
Total | 32,191 | 48,184

Creditors represent the amount due to suppliers for procurement on deferred payment and any internal dues. As of 30 June 2025, creditors totalled £32,191. The company has a policy to settle is current liabilities in a period of 30-60 days.