Company No: 10106076 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	1,852		1,671
Investment property	5	1,508,375		1,508,375
		1,510,227		1,510,046
Current assets
Debtors	6	455,258		452,254
Cash at bank and in hand		46,160		84,490
		501,418		536,744
Creditors: amounts falling due within one year	7	( 956,829)		( 1,026,342)
Net current liabilities		(455,411)		(489,598)
Total assets less current liabilities		1,054,816		1,020,448
Creditors: amounts falling due after more than one year	8	( 232,375)		( 231,402)
Provision for liabilities		( 463)		0
Accruals and deferred income		0		( 9,024)
Net assets		821,978		780,022
Capital and reserves
Called-up share capital		120		120
Share premium account		289,000		289,000
Profit and loss account		532,858		490,902
Total shareholders' funds		821,978		780,022

For the financial year ending 30 April 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 GKI Property Limited (registered number: 10106076) were approved and authorised for issue by the Board of Directors on 11 October 2026. They were signed on its behalf by:

G Friend 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

GKI Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

Investment properties have previously been shown within tangible assets on the balance sheet. The comparative period has been restated to show these within investment properties. Investment properties are held at fair value.

Turnover

Turnover comprises the rental amounts due on the investment properties held in the period. Turnover is shown net of rebates and discounts.

The company recognises revenue when:
the amount of rent can be reliably measured;
It is confirmed that the rent is due to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income relates to gains on disposal of fixed assets and investment properties. This income is recognised on an accruals basis

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 30 April 2025		£		£		£
Tangible assets		1,510,046		(1,508,375)		1,671
Investment property		0		1,508,375		1,508,375

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

4. Tangible assets

	Plant and machinery		Computer equipment		Total
	£		£		£
Cost
At 01 May 2025	164		2,049		2,213
Additions	0		699		699
At 30 April 2026	164		2,748		2,912
Accumulated depreciation
At 01 May 2025	64		478		542
Charge for the financial year	15		503		518
At 30 April 2026	79		981		1,060
Net book value
At 30 April 2026	85		1,767		1,852
At 30 April 2025	100		1,571		1,671

5. Investment property

	Investment property
	£
Valuation
As at 01 May 2025	1,508,375
As at 30 April 2026	1,508,375

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2026		2025
	£		£
Historic cost	1,508,375		1,508,375

6. Debtors

	2026		2025
	£		£
Other debtors	455,258		452,254

Included within other debtors is amounts due from related companies and other immaterial debtors.

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	14,283		47,837
Other creditors	942,546		978,505
	956,829		1,026,342

Included within other creditors are amounts owed to the directors, accruals, and other immaterial creditors.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	232,375		231,402

Bank borrowings are secured on specific freehold land and buildings owned by the company and by a fixed and floating charge.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans (secured)	232,375		231,402

Bank borrowings are secured on specific freehold land and buildings owned by the company and by a fixed and floating charge.