GFMS Holdings Ltd iXBRL

GFMS Holdings Ltd

Unaudited Financial Statements

for the financial year ended 31 December 2025

GFMS Holdings Ltd

DIRECTORS AND OTHER INFORMATION


Directors	Russell Johnston
	Martin Rice


Company Registration Number	NI675099


Registered Office and Business Address	River House Suite 3.019
	48-60 High Street
	Belfast
	BT1 2BE
	Northern Ireland


Accountants	Finegan Gibson Ltd
	Causeway Tower
	9 James Street South
	Belfast
	BT2 8DN

GFMS Holdings Ltd

Company Registration Number: NI675099

BALANCE SHEET

as at 31 December 2025

		2025	2024
	Notes	£	£

Fixed Assets

Investments

349,675

349,675

─────────

Current Assets

Debtors

133

Creditors: amounts falling due within one year

(349,675)

(349,675)

─────────

Net Current Liabilities

(349,542)

(349,595)

─────────

Total Assets less Current Liabilities

133

═════════

Capital and Reserves

Called up share capital

133

─────────

Equity attributable to owners of the company

133

═════════

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

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

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 22 October 2026 and signed on its behalf by

________________________________

Russell Johnston

Director

________________________________

Martin Rice

Director

GFMS Holdings Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2025

General Information

GFMS Holdings Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI675099. The registered office of the company is River House Suite 3.019, 48-60 High Street, Belfast, BT1 2BE, Northern Ireland which is also the principal place of business of the company. The Principal Activity of the company is a holding company. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Cash flow statement

The company has availed of the exemption in FRS 102 from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Investments

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.

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.

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.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity. At the beginning of the financial year the company had 80 ordinary shares in issue. On 31 July 2025, a further 53 ordinary shares of £1 each were allotted and issued at par value, increasing the total number of ordinary shares in issue to 133.

Each ordinary share carries equal rights to dividends and distributions and entitles the holder to one vote per share at general meetings of the company. The ordinary shares rank equally in all respects and there are no restrictions on the distribution of dividends or the repayment of capital.

As at the balance sheet date, the issued ordinary share capital comprised 133 ordinary shares with an aggregate nominal value of £133.

Employees

The average monthly number of employees, including directors, during the financial year was 0, (2024 - 0).


4.	Tax on profit
		2025	2024
		£	£
	Analysis of charge in the financial year

	Current tax:
	Corporation tax	-	-
		═════════	═════════

	No charge to tax arises due to tax losses incurred.


5.	Investments
		Group and	Total
		participating
		interests/
		joint ventures
	Investments	£	£
	Cost

	At 31 December 2025	349,675	349,675
		─────────	─────────
	Net book value
	At 31 December 2025	349,675	349,675
		═════════	═════════
	At 31 December 2024	349,675	349,675
		═════════	═════════


6.	Debtors	2025	2024
		£	£

	Called up share capital not paid	133	80
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Amounts owed to group undertakings	229,675	349,675
	Shares classified as financial liabilities	120,000	-
		─────────	─────────
		349,675	349,675
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial year-ended 31 December 2025.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

10.

Preference Shares Classified as Financial Liabilities

During the year, the company issued 120,000 redeemable preference shares of £1 each for a total consideration of £120,000. Under the terms attaching to these shares, the holders are entitled to repayment at par value on the agreed redemption date. The redeemable preference shares do not carry voting rights except where required by law and rank in priority to the ordinary shares on a return of capital. In accordance with FRS 102, the shares are presented as a financial liability due to the company's contractual obligation to redeem the shares for cash.