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REGISTERED NUMBER: 06397374



Unaudited Financial Statements

for the Year Ended 31st October 2023

for

G & S INSURANCE SERVICES LIMITED

G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G & S INSURANCE SERVICES LIMITED

Company Information
for the Year Ended 31st October 2023







DIRECTOR: G H Collings





SECRETARY: G H Collings





REGISTERED OFFICE: 6 Manchester Road
Buxton
Derbyshire
SK17 6SB





REGISTERED NUMBER: 06397374





ACCOUNTANTS: Laytons
Chartered Accountants
6 Manchester Road
Buxton
Derbyshire
SK17 6SB

G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)

Abridged Balance Sheet
31st October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,545 38,282
32,545 38,282

CURRENT ASSETS
Stocks 15,008 25,633
Debtors 9,069 9,571
Cash at bank 6,293 4,003
30,370 39,207
CREDITORS
Amounts falling due within one year 3,757 21,274
NET CURRENT ASSETS 26,613 17,933
TOTAL ASSETS LESS CURRENT LIABILITIES 59,158 56,215

CREDITORS
Amounts falling due after more than one year 40,194 45,141
NET ASSETS 18,964 11,074

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings (21,036 ) (28,926 )
18,964 11,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)

Abridged Balance Sheet - continued
31st October 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 31st July 2024 and were signed by:





G H Collings - Director


G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. STATUTORY INFORMATION

G & S INSURANCE SERVICES LIMITED is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2022
and 31st October 2023 17,625
AMORTISATION
At 1st November 2022
and 31st October 2023 17,625
NET BOOK VALUE

At 31st October 2023 -
At 31st October 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2022
and 31st October 2023 50,734
DEPRECIATION
At 1st November 2022 12,452
Charge for year 5,737
At 31st October 2023 18,189
NET BOOK VALUE
At 31st October 2023 32,545
At 31st October 2022 38,282

G & S INSURANCE SERVICES LIMITED (Registered number: 06397374)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st November 2022
and 31st October 2023 41,000
NET BOOK VALUE
At 31st October 2023 41,000
At 31st October 2022 41,000