Gotim 7 Limited - Accounts to registrar (filleted) - small 22.3
Gotim 7 Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2022 |
| for |
| Gotim 7 Limited |
| Gotim 7 Limited (Registered number: 07285535) |
| Contents of the Financial Statements |
| for the year ended 30 June 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Gotim 7 Limited |
| Company Information |
| for the year ended 30 June 2022 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| Unit 2 Foley Works |
| Foley Industrial Estate |
| Hereford |
| Herefordshire |
| HR1 2SF |
| Gotim 7 Limited (Registered number: 07285535) |
| Balance Sheet |
| 30 June 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Revaluation reserve | 7 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements |
| for the year ended 30 June 2022 |
| 1. | STATUTORY INFORMATION |
| Gotim 7 Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investment property |
| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which included the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. The surplus deficit on revaluation is recognised in the profit and loss account. Movement in fair values are transferred to a revaluation reserve until they become realised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other even that has resulted in the tax expense or income. |
| Going concern |
| The company has financial support from its ultimate parent undertaking and continues to have this support for the foreseeable future. As a consequence the directors have a reasonable expectation that the company had adequate financial resources and as such have adopted the going concern basis for the preparation of the annual report and accounts. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2022 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1 July 2021 |
| and 30 June 2022 |
| Net book value |
| At 30 June 2022 |
| At 30 June 2021 |
| Fair value at 30 June 2022 is represented by: |
| £ |
| Valuation in 2011 | 20,015 |
| Valuation in 2014 | 27,000 |
| Valuation in 2015 | (36,772 | ) |
| Valuation in 2016 | 656,080 |
| Valuation in 2017 | 534,372 |
| Valuation in 2019 | 728,920 |
| Valuation in 2021 | 170,000 |
| Cost | 6,080,385 |
| 8,180,000 |
| The investment properties were measured at their value by Allsop LLP, an external UK property consultancy, on 5th May 2021. Fair value is determined by reference to current market conditions. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed to group undertakings |
| As at the year end the parent company owed an amount of £29,088,678 (2021: £28,496,024) to the ultimate parent company which was in part secured on the properties owned by Gotim 7 Limited. The properties held in Gotim 7 Limited form part of an unlimited multilateral guarantee dated 25 April 2016 in favour of the parent company. |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| Gotim 7 Limited (Registered number: 07285535) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2022 |
| 7. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2021 | 1,861,283 |
| Profit for the year |
| At 30 June 2022 | 1,861,283 |
| The revaluation reserve includes all fair value gains/(losses) recognised on investment properties, net of deferred tax. |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |