Company registration number: 08031151
Annual report and unaudited financial statements
for the period ended 29 April 2025
for
Gill 1 Limited
Pages for filing with the Registrar
Company registration number: 08031151
Gill 1 Limited
Balance sheet
as at 29 April 2025
29 Apr 25 30 Apr 24
Note £ £ £ £
Fixed assets
Investment property 4 360,000 360,000
360,000 360,000
Current assets
Debtors 100,589 101,203
Cash at bank and in hand 564 1,511
101,153 102,714
Creditors: amounts falling due within one
year 		(171,094) (148,252)
Net current liabilities (69,941) (45,538)
Total assets less current liabilities 290,059 314,462
Creditors: Amounts falling due after more
than one year 		(112,994) (112,435)
Provisions for liabilities (37,837) (37,837)
NET ASSETS 139,228 164,190
Capital and reserves
Called up share capital 3 3
Revaluation reserve 113,509 113,509
Profit and loss account 25,716 50,678
TOTAL EQUITY 139,228 164,190
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 29 April 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 08031151
Gill 1 Limited
Balance sheet - continued
as at 29 April 2025
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr I Gill, Director
27 April 2026
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Gill 1 Limited
Notes to the financial statements
for the period ended 29 April 2025
1 Company information
Gill 1 Limited is a private company registered in England and Wales. Its registered number is 08031151. The company is limited by shares. Its registered office is 11 New Street, Aberavon, Port Talbot, SA12 6HG.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Taxation
Taxation for the period comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Gill 1 Limited
Notes to the financial statements - continued
for the period ended 29 April 2025
3 Average number of employees
During the period the average number of employees was (2024 - 2).
4 Investment property
£
Valuation
At 1 May 2024 360,000
At 29 April 2025 360,000
5 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.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
6 Related party transactions
The company has an existing loan with Front Row Properties Ltd. At the year end the amount owed to Gill1 Ltd was £96,839 (2024 - £98,603) this amount is included in debtors: amounts falling due within one year. Mr Gill is a director of both Gill1 Ltd and Front Row Properties Ltd.
7 Directors' transactions
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £162,101 (2024 - £135,185); this amount being included in creditors: amounts falling due within one year.
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