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Company registration number: 01275902
G.G.K. Smith Associates Limited
Unaudited filleted financial statements
31 March 2023
G.G.K. Smith Associates Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
G.G.K. Smith Associates Limited
Directors and other information

| Director | Mr George Gerald Kingsland Smith
| Company number | 01275902
| Registered office | 75 High Street
|  | Boston
|  | Lincolnshire
|  | PE21 8SX
| Business address | 75 High Street
|  | Boston
|  | Lincolnshire
|  | PE21 8SX
| Accountants | Lister & Co
|  | 75 High Street
|  | Boston
|  | Lincolnshire
|  | PE21 8SX

G.G.K. Smith Associates Limited
Report to the director on the preparation of the
unaudited statutory financial statements of G.G.K. Smith Associates Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.G.K. Smith Associates Limited for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of G.G.K. Smith Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of G.G.K. Smith Associates Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.G.K. Smith Associates Limited and its director as a body for our work or for this report.
It is your duty to ensure that G.G.K. Smith Associates 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 G.G.K. Smith Associates Limited. You consider that G.G.K. Smith Associates 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 G.G.K. Smith Associates 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.
Lister & Co
ACCA
75 High Street
Boston
Lincolnshire
PE21 8SX
19 September 2023
G.G.K. Smith Associates Limited
Statement of financial position
31 March 2023

|  |  | 2023 |  |  |  | 2022 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 5 | 18 |  |  |  | 23 |  |
Investments |  | 6 | 4,948,261 |  |  |  | 4,498,702 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 4,948,279 |  |  |  | 4,498,725
Current assets |  |  |  |  |  |  |  |  |
Debtors |  | 7 | 18,911 |  |  |  | 12,448 |  |
Cash at bank and in hand |  |  | 1,474,884 |  |  |  | 1,725,017 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 1,493,795 |  |  |  | 1,737,465 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 8 | ( 82,773) |  |  |  | ( 51,706) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 1,411,022 |  |  |  | 1,685,759
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 6,359,301 |  |  |  | 6,184,484
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 6,359,301 |  |  |  | 6,184,484
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  | 9 |  |  | 1,000 |  |  |  | 1,000
Fair value reserve |  |  |  |  | ( 1,232,411) |  |  |  | ( 1,025,224)
Profit and loss account |  |  |  |  | 7,590,712 |  |  |  | 7,208,708
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 6,359,301 |  |  |  | 6,184,484
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 March 2023 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 year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 September 2023 , and are signed on behalf of the board by:
Mr George Gerald Kingsland Smith
Director
Company registration number: 01275902
G.G.K. Smith Associates Limited
Statement of changes in equity
Year ended 31 March 2023

|  | Called up share capital |  | Fair value reserve |  | Profit and loss account | Total |  |  |
|  | £ |  | £ |  | £ | £ |  |  |
At 1 April 2021 |  | 1,000 |  | ( 1,830,955) |  | 7,092,241 | 5,262,286 |  |  |
Profit for the year |  |  |  |  |  | 116,467 | 116,467 |  |  |
Other comprehensive income for the year: |  |  |  |  |  |  |  |  |  |
Fair value movement on investments |  | - |  | 805,731 |  | - | 805,731 |  |  |
|  | _______ |  | _______ |  | _______ | _______ |  |  |
Total comprehensive income for the year |  | - |  | 805,731 |  | 116,467 | 922,198 |  |  |
|  | _______ |  | _______ |  | _______ | _______ |  |  |
At 31 March 2022 and 1 April 2022 |  | 1,000 |  | ( 1,025,224) |  | 7,208,708 | 6,184,484 |  |  |
Profit for the year |  |  |  |  |  | 382,004 | 382,004 |  |  |
Other comprehensive income for the year: |  |  |  |  |  |  |  |  |  |
Fair value movement on investments |  | - |  | ( 207,187) |  | - | ( 207,187) |  |  |
|  | _______ |  | _______ |  | _______ | _______ |  |  |
Total comprehensive income for the year |  | - |  | ( 207,187) |  | 382,004 | 174,817 |  |  |
|  | _______ |  | _______ |  | _______ | _______ |  |  |
At 31 March 2023 |  | 1,000 |  | ( 1,232,411) |  | 7,590,712 | 6,359,301 |  |  |
|  | _______ |  | _______ |  | _______ | _______ |  |  |

G.G.K. Smith Associates Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 75 High Street, Boston, Lincolnshire, PE21 8SX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the amount receivable by the company in respect of dividends and property distributions. Revenue is recognised when it is probable that associated economic benefits will flow to the company and to the extent that revenue can be measured reliably. Revenue is measured as the fair value of the consideration receivable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fittings fixtures and equipment | - | 20 % | reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets

|  | Fixtures, fittings and equipment | Total |  |  |  |  |
|  | £ | £ |  |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 April 2022 and 31 March 2023 | 33,834 | 33,834 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 April 2022 | 33,811 | 33,811 |  |  |  |  |
| Charge for the year | 5 | 5 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 March 2023 | 33,816 | 33,816 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 March 2023 | 18 | 18 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 March 2022 | 23 | 23 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |

6. Investments

|  | Other investments other than loans | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 April 2022 | 4,498,702 | 4,498,702 |  |  |  |
| Additions | 1,015,767 | 1,015,767 |  |  |  |
| Disposals | ( 359,021) | ( 359,021) |  |  |  |
| Fair value adjustment | (207,187) | (207,187) |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2023 | 4,948,261 | 4,948,261 |  |  |  |
|  | _______ | _______ |  |  |  |
| Impairment |  |  |  |  |  |
| At 1 April 2022 and 31 March 2023 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 March 2023 | 4,948,261 | 4,948,261 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2022 | 4,498,702 | 4,498,702 |  |  |  |
|  | _______ | _______ |  |  |  |

Investments held at valuation
In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

|  | Other investments other than loans | Total |  |  |  |
|  | £ | £ |  |  |  |
| At 31 March 2023 |  |  |  |  |  |
| Aggregate cost | 6,180,672 | 6,180,672 |  |  |  |
| Aggregate depreciation | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount | 6,180,672 | 6,180,672 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 March 2022 |  |  |  |  |  |
| Aggregate cost | 5,523,926 | 5,523,926 |  |  |  |
| Aggregate depreciation | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount | 5,523,926 | 5,523,926 |  |  |  |
|  | _______ | _______ |  |  |  |

7. Debtors

|  |  | 2023 | 2022
|  |  | £ | £
| Other debtors |  | 18,911 | 12,448
|  |  | _______ | _______

8. Creditors: amounts falling due within one year

|  |  | 2023 | 2022
|  |  | £ | £
| Accruals and deferred income |  | 1,950 | 3,450
| Social security and other taxes |  | 30,708 | -
| Director loan accounts |  | 50,115 | 48,256
|  |  | _______ | _______
|  |  | 82,773 | 51,706
|  |  | _______ | _______

9. Called up share capital
Issued, called up and fully paid

|  |  | 2023 |  |  |  | 2022 |  |
|  |  | No |  | £ |  | No |  | £
| Ordinary shares of £ 1.00 each |  | 1,000 |  | 1,000 |  | 1,000 |  | 1,000
|  |  | _______ |  | _______ |  | _______ |  | _______