REGISTERED NUMBER: 09853556 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

GSK DEVELOPMENT SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H E Coleman

G S Kedgley

REGISTERED OFFICE:

31a Kenilworth Road

Leamington Spa

CV32 6JG

REGISTERED NUMBER:

09853556 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

6,867

400,312

CURRENT ASSETS

Stocks

5,284,000

3,455,045

Debtors

5

61,497

17,717

Cash at bank

215,094

47,779

5,560,591

3,520,541

CREDITORS

Amounts falling due within one year

6

2,769,216

1,354,077

NET CURRENT ASSETS

2,791,375

2,166,464

TOTAL ASSETS LESS CURRENT LIABILITIES

2,798,242

2,566,776

CREDITORS

Amounts falling due after more than one year

7

(2,100,329

)

(1,872,046

)

PROVISIONS FOR LIABILITIES

-

(25,528

)

NET ASSETS

697,913

669,202

CAPITAL AND RESERVES

Called up and paid share capital

1

1

Retained earnings

697,912

669,201

697,913

669,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2026 and were signed on its behalf by:

G S Kedgley - Director

1.	STATUTORY INFORMATION

GSK Development Solutions Ltd 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.

Turnover

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

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

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.

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 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2024

491,581

Additions

757

Disposals

(459,272

)

At 30 November 2025

33,066

DEPRECIATION

At 1 December 2024

91,269

Charge for year

39,357

Eliminated on disposal

(104,427

)

At 30 November 2025

26,199

NET BOOK VALUE

At 30 November 2025

6,867

At 30 November 2024

400,312

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

61,497

17,717

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,461

10,461

Hire purchase contracts

-

22,285

Taxation and social security

3,898

4,417

Other creditors

2,754,857

1,316,914

2,769,216

1,354,077

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,100,329

1,749,495

Hire purchase contracts

-

122,551

2,100,329

1,872,046

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,099,868

507,984

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

2,110,790

-

Other loans

1,861,496

-

3,972,286

-

Monmouth Building Society have a fixed and floating charge over 4 Victoria Court. This charge contains a negative pledge. They also have the same charge applied to Old Mill House and the land and building on the south side of Cross Street.

Reay Investment Limited has a fixed charge over the freehold land on the north-east side of Broadway Road. This charge contains a negative pledge.