REGISTERED NUMBER: 02583118 (England and Wales)

Gama (Import/Export) Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Sancak

Mr E Sancak

SECRETARY:

Mr E Sancak

REGISTERED OFFICE:

Unit F

Horizon Business Centre

84 Goodwin Road, Edmonton

London

N9 0BJ

REGISTERED NUMBER:

02583118 (England and Wales)

SENIOR STATUTORY AUDITOR:

Altan Kemal, FCA, FCCA

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Intangible assets

4

11,737

19,397

Property, plant and equipment

5

874,808

-

Investment property

6

7,000,000

7,000,000

7,886,545

7,019,397

CURRENT ASSETS

Debtors

7

1,109,343

453,468

Cash at bank and in hand

595,651

1,033,209

1,704,994

1,486,677

CREDITORS

Amounts falling due within one year

8

411,567

193,798

NET CURRENT ASSETS

1,293,427

1,292,879

TOTAL ASSETS LESS CURRENT LIABILITIES

9,179,972

8,312,276

CREDITORS

Amounts falling due after more than one year

9

(673,128

)

-

PROVISIONS FOR LIABILITIES

12

(1,115,159

)

(913,513

)

NET ASSETS

7,391,685

7,398,763

CAPITAL AND RESERVES

Called up share capital

13

20,000

20,000

Fair value reserve

14

4,151,295

3,684,272

Retained earnings

14

3,220,390

3,694,491

SHAREHOLDERS' FUNDS

7,391,685

7,398,763

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2026 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2026 and were signed on its behalf by:

Mr A Sancak - Director

1.	STATUTORY INFORMATION

Gama (Import/Export) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the end of the quarter when the rent accrues and is derived from the ordinary activities of the business.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

4% on cost

Plant and machinery

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

76,585

AMORTISATION

At 1 April 2025

57,188

Charge for year

7,660

At 31 March 2026

64,848

NET BOOK VALUE

At 31 March 2026

11,737

At 31 March 2025

19,397

5.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

Additions

70,894

948,920

1,019,814

At 31 March 2026

70,894

948,920

1,019,814

DEPRECIATION

Charge for year

2,668

142,338

145,006

At 31 March 2026

2,668

142,338

145,006

NET BOOK VALUE

At 31 March 2026

68,226

806,582

874,808

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

7,000,000

NET BOOK VALUE

At 31 March 2026

7,000,000

At 31 March 2025

7,000,000

The investment property was valued by the directors at 31 March 2026. In the opinion of the directors there has been no significant changes in the value of the investment properties during the period from 01 April 2025 to 31 March 2026.

Fair value at 31 March 2026 is represented by:

£

Valuation in 2015

1,092,758

Valuation in 2017

2,472,050

Valuation in 2024

1,500,000

Cost

1,935,192

7,000,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

947,401

-

Inter company balances

-

430,763

Rent deposit

21,300

21,300

Tax

67,718

-

VAT

71,596

-

Prepayments

1,328

1,405

1,109,343

453,468

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

118,361

-

Trade creditors

286,656

109,430

Corporation tax payable

-

67,754

VAT

-

10,580

Accrued expenses

6,550

6,034

411,567

193,798

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 1-2 years

104,926

-

Long term bank loan

314,777

-

Bank loans more 5 yr by instal

253,425

-

673,128

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

253,425

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

299,934

168,188

Between one and five years

1,199,736

312,376

In more than five years

5,848,713

-

7,348,383

480,564

Under a lease agreement between Sergo (Great Cambridge Industrial Estate) Limited and Gama (Import/Export) Limited the property known as Unit 2 Great Cambridge Industrial Estate, Lincoln Road, Enfield, EN1 1SH, there is an annual rental of £299,934 as per subject to rent review dates in the lease agreement. The lease is until October 2045.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank overdraft

13,435

-

Bank loans

778,054

-

Bank loan

-

363,945

791,489

363,945

Centre Unit 3, Goodwin Road, Edmonton, London N9 0EN

552- Land Charge 1st Party,dated 7/02/2024 and Legal Charge.

Unit I, Horizon Business Centre, 84 Goodwin Road, Edmonton, London N9 0BJ

552- Land Charge 1st Party, dated 7/02/2024 and Legal Charge.

There are guarantees provided to third parties for the amount of £810,000 and £700,000 respectively.

12.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

201,646

-

Other timing differences

913,513

913,513

1,115,159

913,513

Deferred

tax

£

Balance at 1 April 2025

913,513

Charge to Income Statement during year

201,646

Balance at 31 March 2026

1,115,159

Included in deferred tax provision is an amount of £913,513 being the tax that will arise should a sale of the investment property result in the fair value gain provided in the accounts. The amount of £201,646 is for accelerated capital allowances on plant and machinery purchased during the year.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

20,000

Ordinary

£1

20,000

20,000

14.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2025

3,694,491

3,684,272

7,378,763

Deficit for the year

(7,078

)

(7,078

)

Fair value adjustments

(467,023

)

467,023

-

At 31 March 2026

3,220,390

4,151,295

7,371,685

15.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal, FCA, FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

16.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2026

2025

Management charges paid to related parties

£50,000

£6,000

Rent and service charges paid to related parties

£413,400

£352,101

Trade debtors

£855,931

£430,763