Gillespie Tax Management Ltd |
Registered Number:SC520868 |
For the year ended 31 March 2024
Scotland
Unaudited Financial Statements
For the year ended 31 March 2024
Gillespie Tax Management Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Gillespie Tax Management Ltd
Statement of Financial Position
2023
2024
730,000
730,000
2
Property, plant and equipment |
246,621
234,237
3
976,621
964,237
Trade and other receivables |
71,826
90,546
4
244,421
Cash and cash equivalents |
247,419
337,965
316,247
Trade and other payables: amounts falling due within one |
year |
(210,803)
(222,394)
5
105,444
115,571
Net current assets
Total assets less current liabilities |
1,092,192
1,069,681
Trade and other payables: amounts falling due after more |
than one year |
(419,655)
(318,731)
6
773,461
Net assets
650,026
100
100
773,361
649,926
773,461
650,026
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 14 August 2024 and were signed by: |
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For the year ended 31 March 2024
Gillespie Tax Management Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 31 March 2024
Gillespie Tax Management Ltd
Notes to the Financial Statements
Statutory Information
Gillespie Tax Management Ltd is a private limited company, limited by shares, domiciled in Scotland, registration |
number SC520868. |
1 Inverleith Gardens
Edinburgh
EH3 5PU
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business is deemed by the directors to appreciate in value, therefore no amortisiation is required. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
2. Intangible fixed assets |
Goodwill
730,000
730,000
730,000
730,000
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For the year ended 31 March 2024
Gillespie Tax Management Ltd
Notes to the Financial Statements Continued
3. Property, plant and equipment |
240,751
9,788
230,963
14,805
14,805
-
230,963
24,593
255,556
Provision for depreciation and impairment |
6,514
6,514
-
Charge for year
2,421
2,421
-
8,935
8,935
-
230,963
15,658
246,621
230,963
3,274
234,237
4. Trade and other receivables |
2023
2024
78,546
71,826
12,000
-
71,826
90,546
Included with-in Other Debtors is an amount of £12,000 which represents a Short Term interest free Inter-company loan to Gizmo Investments Ltd, whereby the Directors and shareholders are the same in both companies. |
5. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
43,203
43,482
20,000
20,000
-
5,000
Taxation and social security |
117,070
87,716
Accruals and deferred income |
3,070
4,737
-
9,232
39,051
40,636
222,394
210,803
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For the year ended 31 March 2024
Gillespie Tax Management Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2023
2024
31,667
51,667
Bank loans and overdraft (secured) |
211,064
253,988
76,000
114,000
318,731
419,655
The Bank of Scotland hold standard security and floating charges over the property at 1 Inverleith Gardens, owned by the company, together with Personal Guarantees from the Director's of the company. |
7. Related party transactions |
The office rental paid during the year to Beamer Street Ltd for the Salamander office, is paid to a company owned |
partly by the Directors and Shareholders of Gillespie Tax Management Ltd. |
8. Average number of persons employed |
During the year the average number of employees was 11 (2023 : 11)
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