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REGISTERED NUMBER: SC378918 (Scotland)













GUARINO & THOMSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021






GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

GUARINO & THOMSON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTORS: M F Guarino
A Thomson



REGISTERED OFFICE: E201 Edinburgh House
Princes Square
East Kilbride
South Lanarkshire
G74 1LJ



REGISTERED NUMBER: SC378918 (Scotland)



ACCOUNTANTS: Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY



BANKERS: The Royal Bank of Scotland plc
24/25 Princes Square
East Kilbride
Glasgow
G74 1LJ

GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

BALANCE SHEET
30 SEPTEMBER 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 4 36,000 40,500
Tangible assets 5 587 878
36,587 41,378

CURRENT ASSETS
Debtors 6 21,131 24,144
Cash at bank 78,669 77,353
99,800 101,497
CREDITORS
Amounts falling due within one year 7 (97,232 ) (92,729 )
NET CURRENT ASSETS 2,568 8,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,155

50,146

CREDITORS
Amounts falling due after more than one
year

8

(36,667

)

(46,667

)
NET ASSETS 2,488 3,479

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 2,388 3,379
SHAREHOLDERS' FUNDS 2,488 3,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

BALANCE SHEET - continued
30 SEPTEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2022 and were signed on its behalf by:




M F Guarino - Director



A Thomson - Director


GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021


1. STATUTORY INFORMATION

Guarino & Thomson Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC378918 and its registered office is E201 Edinburgh House, East Kilbride, South Lanarkshire, G74 1LJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have considered the company's working capital requirements and have a reasonable expectation that the company has adequate resources to continue for the foreseeable future and accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition
Turnover is measured at the fair value of the consideration received or rendered.

Turnover represents net invoiced sales of services excluding value added tax, from the company's principal activity being that of solicitors and notaries.

Unbilled work is recognised as turnover in accordance with FRS 102 and is included within debtors as Amounts Recoverable on Contracts.

Grants are measured at the fair value of the asset received or receivable. Grant income received in the year has been recognised by the company using the accruals method. The grant income is recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their estimated useful lives as follows:

Plant & machinery etc - 15 % on reducing balance and 33.33% on cost

GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


2. ACCOUNTING POLICIES - continued

Financial instruments

Debtors
Trade and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise of cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Trade and other creditors are all recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Loans
Loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2020
and 30 September 2021 450,000
AMORTISATION
At 1 October 2020 409,500
Charge for year 4,500
At 30 September 2021 414,000
NET BOOK VALUE
At 30 September 2021 36,000
At 30 September 2020 40,500

GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2020 2,049
Disposals (250 )
At 30 September 2021 1,799
DEPRECIATION
At 1 October 2020 1,171
Charge for year 224
Eliminated on disposal (183 )
At 30 September 2021 1,212
NET BOOK VALUE
At 30 September 2021 587
At 30 September 2020 878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 220 313
Amounts recoverable on contracts 17,697 20,668
Other debtors 3,214 3,163
21,131 24,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 8,165
Taxation and social security 44,182 40,865
Other creditors 43,050 43,699
97,232 92,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 36,667 46,667

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 6,667

GUARINO & THOMSON LIMITED (REGISTERED NUMBER: SC378918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

10. COMMITMENTS

At 30 September 2021 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £41,301 (2020: £48,001).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GUARINO & THOMSON LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Guarino & Thomson Limited for the year ended 30 September 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Guarino & Thomson Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Guarino & Thomson Limited and state those matters that we have agreed to state to the Board of Directors of Guarino & Thomson Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Guarino & Thomson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Guarino & Thomson Limited. You consider that Guarino & Thomson Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Guarino & Thomson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY


27 July 2022