Registration number: 09064698

GSNC Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

GSNC Ltd

Company Information

Directors

Gregory Edward Hannah Sarah Hannah

Registered office

124 City Road London EC1V 2NX

GSNC Ltd

(Registration number: 09064698)
Balance Sheet as at 31 May 2026

	Note	31 May 2026 £	31 May 2025 £
Fixed assets
Tangible assets	5	2,993	2,643
Investment property	6	470,000	470,000
		472,993	472,643
Current assets
Debtors	7	-	97
Cash at bank and in hand		63,704	59,370
		63,704	59,467
Creditors: Amounts falling due within one year	8	(9,734)	(9,671)
Net current assets		53,970	49,796
Total assets less current liabilities		526,963	522,439
Creditors: Amounts falling due after more than one year	8	(103,073)	(103,098)
Provisions for liabilities		(20,305)	(20,305)
Net assets		403,585	399,036
Capital and reserves
Called up share capital		100	100
Revaluation reserve		96,589	96,589
Retained earnings		306,896	302,347
Shareholders' funds		403,585	399,036

For the financial year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

GSNC Ltd

(Registration number: 09064698)
Balance Sheet as at 31 May 2026

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 July 2026 and signed on its behalf by:
 

......................................... Sarah Hannah Director

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
124 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the Board on 15 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Plant and equipment	20% reducing balance
Office equipment	20% 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2025 - 0).

4

Taxation

Tax charged/(credited) in the profit and loss account

	31 May 2026 £	31 May 2025 £
Current taxation
UK corporation tax	152	-
Deferred taxation
Arising from origination and reversal of timing differences	-	(9,492)
Tax expense/(receipt) in the income statement	152	(9,492)

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 June 2025	4,159	420	4,579
Additions	1,099	-	1,099
At 31 May 2026	5,258	420	5,678
Depreciation
At 1 June 2025	1,640	296	1,936
Charge for the year	724	25	749
At 31 May 2026	2,364	321	2,685
Carrying amount
At 31 May 2026	2,894	99	2,993
At 31 May 2025	2,519	124	2,643

6	Investment properties

	31 May 2026 £
At 1 June	470,000
At 31 May	470,000

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.

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

If investment property had not been revalued it would have been included at the historical cost £351,887 (2025: £351,887).

7

Debtors

Current	31 May 2026 £	31 May 2025 £
Prepayments	-	97
	-	97

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

8

Creditors

Creditors: amounts falling due within one year

	31 May 2026 £	31 May 2025 £
Due within one year
Taxation and social security	152	90
Accruals and deferred income	1,322	1,321
Other creditors	8,260	8,260
	9,734	9,671

Creditors: amounts falling due after more than one year

	Note	31 May 2026 £	31 May 2025 £
Due after one year
Loans and borrowings	11	103,073	103,098

9	Provisions for liabilities

	Deferred tax £	Total £
At 1 June 2025	20,305	20,305
At 31 May 2026	20,305	20,305

10	Share capital

Allotted, called up and fully paid shares

	31 May 2026		31 May 2025
	No.	£	No.	£
Ordinary A of £1 each	5	5	5	5
Ordinary B of £1 each	5	5	5	5
Ordinary C of £1 each	90	90	90	90
	100	100	100	100

GSNC Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

11	Loans and borrowings

Non-current loans and borrowings

	31 May 2026 £	31 May 2025 £
Bank borrowings	103,073	103,098

12	Financial instruments

Categorisation of financial instruments

31 May 2026 £

31 May 2025 £