Company No: 07278024 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

G B N Cardozo MBE

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

07278024 (England and Wales)

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	22,679		28,653
		22,679		28,653
Current assets
Debtors	4	2,568		193
Cash at bank and in hand		1,038		1,535
		3,606		1,728
Creditors: amounts falling due within one year	5	( 978,841)		( 976,000)
Net current liabilities		(975,235)		(974,272)
Total assets less current liabilities		(952,556)		(945,619)
Net liabilities		( 952,556)		( 945,619)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 952,656 )		( 945,719 )
Total shareholder's deficit		( 952,556)		( 945,619)

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

Director's responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Gilo Industries Research Limited (registered number: 07278024) were approved and authorised for issue by the Director on 01 September 2026. They were signed on its behalf by:

G B N Cardozo MBE Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gilo Industries Research Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 07278024). The registered office address is 22 Chancery Lane, London, WC2A 1LS.

The Company's functional and presentational currency is GBP.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Going concern

The financial statements have been prepared on a going concern basis.

The Company made a loss of £6,939 and has net liabilities of £952,556 at the year end. The Company relies on the support of its ultimate controlling party to meet its day-to-day trading obligations. The director has received a letter of support from its ultimate controlling party, indicating continued support. The Company has a loan from the director to help fund the companies ongoing activities. Having considered these factors, the director has a reasonable expectation that the Company will have adequate resources to continue in operational existence, meeting all liabilities as they fall due, for a period of twelve months from the approval of the financial statement and as such the director has determined that the Company's application of the going concern basis of accounting remains appropriate.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided.

Taxation

Current tax
Tax is recognised in profit or Loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

The R&D expenditure credit (RDEC) is recognised as other operating income in the profit and loss account in the period in which the related expenditure is incurred.

Deferred tax
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date, except that:

·The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
·Any deferred tax balances are reversed if and when aft conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and Laws that have been enacted or substantively enacted by the balance sheet date.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Plant and machinery	15 years straight line
Fixtures and fittings	4 years straight line
Office equipment	4 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and Losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in bank overdrafts which are an integral part of the Company's cash management.

Financial Liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2025	66,016		5,539		8,552		80,107
At 31 December 2025	66,016		5,539		8,552		80,107
Accumulated depreciation
At 01 January 2025	42,061		2,126		7,267		51,454
Charge for the financial year	3,556		1,379		1,039		5,974
	0		0		0		0
At 31 December 2025	45,617		3,505		8,306		57,428
Net book value
At 31 December 2025	20,399		2,034		246		22,679
At 31 December 2024	23,955		3,413		1,285		28,653

4. Debtors

	2025		2024
	£		£
Other taxation and social security	2,227		0
Other debtors	341		193
	2,568		193

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	8,619		8,541
Amounts owed to group undertakings (note 6)	183,299		177,641
Amounts owed to director (note 6)	740,377		741,172
Accruals	2,900		5,000
Other creditors	43,646		43,646
	978,841		976,000

6. Related party transactions

The Company has taken advantage of the exemption in FRS 102 Section 33.1A to not disclose transactions with wholly owned group entities.

The director has provided an interest free loan to the Company. At the year end the Company owed the director £740,377 (2024 - £741,172).