Company No: 03441653 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	0		60
Investment property	4	700,000		700,000
Investments	5	4		4
		700,004		700,064
Current assets
Debtors	6	1,945		7,618
Cash at bank and in hand		1,531,345		1,595,660
		1,533,290		1,603,278
Creditors: amounts falling due within one year	7	( 265,926)		( 275,475)
Net current assets		1,267,364		1,327,803
Total assets less current liabilities		1,967,368		2,027,867
Net assets		1,967,368		2,027,867
Capital and reserves
Called-up share capital	8	8		8
Profit and loss account	10	1,967,360		2,027,859
Total shareholders' funds		1,967,368		2,027,867

For the financial year ending 30 June 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Giotto Engineering (Projects) Limited (registered number: 03441653) were approved and authorised for issue by the Director on 02 November 2026. They were signed on its behalf by:

Malcolm Stephen Ardron 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

Giotto Engineering (Projects) 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 C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom. The principal place of business is 57 Hoole Road, Chester, CH2 3NJ.

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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 reporting date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings

25 % reducing balance

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.

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 director, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

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

3. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 July 2025	10,942		10,942
At 30 June 2026	10,942		10,942
Accumulated depreciation
At 01 July 2025	10,882		10,882
Charge for the financial year	60		60
At 30 June 2026	10,942		10,942
Net book value
At 30 June 2026	0		0
At 30 June 2025	60		60

4. Investment property

	Investment property
	£
Valuation
As at 01 July 2025	700,000
As at 30 June 2026	700,000

Valuation

The 2026 valuations were made by the director, on an open market value for existing use basis and was arrived at taking account of information from publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements.

5. Fixed asset investments

Investments in subsidiaries

	2026
	£
Cost
At 01 July 2025	4
At 30 June 2026	4
Carrying value at 30 June 2026	4
Carrying value at 30 June 2025	4

6. Debtors

	2026		2025
	£		£
Other debtors	1,945		7,618

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to Group undertakings	162,758		145,828
Amounts owed to director	0		5,272
Accruals and deferred income	5,153		5,637
Deferred tax liability	98,015		98,030
Taxation and social security	0		20,708
	265,926		275,475

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
4 A ordinary shares of £ 1.00 each	4		4
4 B ordinary shares of £ 1.00 each	4		4
	8		8

9. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
Amounts owed to/(from) directors	0		5,272

The company paid dividends of £36,525 (2025: £37,500) to the director. The loan is repayable on demand and bears no interest.

10. Profit and loss reserve

Within the profit and loss reserve is a non-distributable amount in respect of the fair value movement on the fixed asset investment, less the deferred tax charges on those fair value movements. The non-distributable profit and loss reserve as at the balance sheet date is £397,645 (2025: £397,645).