Registered number
05720444
G S Partnership Limited
Filleted Accounts
31 March 2024
G S Partnership Limited
Registered number: 05720444
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 530 232
Cash at bank and in hand 774 681
1,304 913
Creditors: amounts falling due within one year 4 (2,034) (4,093)
Net current liabilities (730) (3,180)
Net liabilities (730) (3,180)
Capital and reserves
Called up share capital 100 100
Profit and loss account (830) (3,280)
Shareholders' funds (730) (3,180)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Gregory
Director
Approved by the board on 26 April 2024
G S Partnership Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime).

The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

As explained in note 6 to the financial statements, the company ceased trading at the year end and the financial statements have been prepared on a basis other than that of the going concern basis. This has had the effect of assessing the recoverable amounts or the amounts that can be realised on the disposal, after allowing for any cost of disposal of current assets as well as the amounts payable for liabilities.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, including expenses, net of discounts and value added taxes. and represents amounts recoverable from clients for consultancy services provided during the year and from royalties on sale of literature and information and learning media. Turnover is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow. Recognition of turnover is in the period in which the services are rendered by reference to the stage of completion, which is assessed on the actual services provided as a proportion of the total value of services to be provided. Turnover from royalties is recognised when the amounts receivable can be reliably determined.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
The company has indebtedness to other companies owned by the directors of £3,500 (2022- £3,000). These companies have confirmed that they will not be seeking repayment of the amounts due. Consequently credit has been taken in the profit and loss account.

As explained in note 6 to the financial statements, the company ceased trading at the year end and the financial statements have been prepared on a basis other than that of the going concern basis. This has had the effect of assessing the recoverable amounts or the amounts that can be realised on the disposal, after allowing for any cost of disposal, of current assets as well as the amounts payable for liabilities.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Trade debtors 385 -
Other debtors 145 232
530 232
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,135 -
Taxation and social security costs 335 -
Other creditors 564 4,093
2,034 4,093
5 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
6 Events after the reporting date
The company ceased trading at 31 March 2024. On 26 April 2024 the directors decided to complete all outstanding matters and to commence the process of applying to have the company struck from the register at Companies House.
7 Other information
G S Partnership Limited is a private company limited by shares and incorporated in England. Its registered office is:
The History Room at Farnham Pottery
Pottery Lane
Wrecclesham
Farnham
GU10 4QJ
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