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REGISTERED NUMBER: OC352117 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GSI WILLS AND TRUSTS LLP

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GSI WILLS AND TRUSTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: P Mitchell
GSI Wealth Management Limited
Mrs J L Mitchell





REGISTERED OFFICE: 1 Churchill Court
Horton's Way
WESTERHAM
Kent
TN16 1BT





REGISTERED NUMBER: OC352117 (England and Wales)





ACCOUNTANTS: Wells Associates
10 Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 7,476 7,462

CURRENT ASSETS
Debtors 5 25,865 20,274
Cash at bank 691 14,358
26,556 34,632
CREDITORS
Amounts falling due within one year 6 10,980 9,677
NET CURRENT ASSETS 15,576 24,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,052

32,417

CREDITORS
Amounts falling due after more than one
year

7

19,042

27,529
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,010

4,888

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

4,010

4,888

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 4,010 4,888
Amounts due from members 5 (24,174 ) (13,431 )
(20,164 ) (8,543 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4 October 2023 and were signed by:





P Mitchell - Designated member

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

GSI Wills and Trusts LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

Assets held under hire purchase contracts and finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its property, plant and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 22,972 1,822 8,319 33,113
Additions 3,000 - - 3,000
At 31 March 2023 25,972 1,822 8,319 36,113
DEPRECIATION
At 1 April 2022 16,079 1,580 7,992 25,651
Charge for year 2,598 61 327 2,986
At 31 March 2023 18,677 1,641 8,319 28,637
NET BOOK VALUE
At 31 March 2023 7,295 181 - 7,476
At 31 March 2022 6,893 242 327 7,462

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 140 2,496
Amounts due from members 24,174 13,431
Other debtors 108 -
VAT 1,443 2,523
Prepayments - 1,824
25,865 20,274

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,459 8,251
Trade creditors 618 340
Other creditors 1,903 1,086
10,980 9,677

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,673 8,459
Bank loans - 2-5 years 10,369 19,070
19,042 27,529

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 1,642 1,642
Between one and five years 1,642 3,283
3,284 4,925

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.