2023-04-01 SC520868 2024-03-31 SC520868 2023-04-01 2024-03-31 SC520868 2023-03-31 SC520868 2022-04-01 2023-03-31 SC520868 uk-core:WithinOneYear 2023-03-31 SC520868 uk-core:WithinOneYear 2024-03-31 SC520868 uk-core:AfterOneYear 2023-03-31 SC520868 uk-core:AfterOneYear 2024-03-31 SC520868 uk-core:ShareCapital 2024-03-31 SC520868 uk-core:ShareCapital 2023-03-31 SC520868 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC520868 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 SC520868 uk-bus:Director1 2023-04-01 2024-03-31 SC520868 uk-core:NetGoodwill 2023-04-01 2024-03-31 SC520868 uk-core:OfficeEquipment 2023-04-01 2024-03-31 SC520868 uk-core:Goodwill 2023-03-31 SC520868 uk-core:Goodwill 2024-03-31 SC520868 uk-core:OfficeEquipment 2023-03-31 SC520868 uk-core:Buildings 2023-03-31 SC520868 uk-core:Buildings 2023-04-01 2024-03-31 SC520868 uk-core:Buildings 2024-03-31 SC520868 uk-core:OfficeEquipment 2024-03-31 SC520868 uk-core:WithinOneYear uk-core:Secured 2024-03-31 SC520868 uk-core:WithinOneYear uk-core:Secured 2023-03-31 SC520868 uk-core:WithinOneYear 2024-03-31 SC520868 uk-core:WithinOneYear 2023-03-31 SC520868 uk-core:AfterOneYear uk-core:Secured 2024-03-31 SC520868 uk-core:AfterOneYear uk-core:Secured 2023-03-31 SC520868 uk-core:AfterOneYear 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure SC520868 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC520868 uk-bus:FRS102 2023-04-01 2024-03-31 SC520868 uk-bus:FilletedAccounts 2023-04-01 2024-03-31 SC520868 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Gillespie Tax Management Ltd
Registered Number:SC520868
For the year ended 31 March 2024
Scotland
Unaudited Financial Statements
2
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
3
Registered Number :
SC520868
As at 31 March 2024
Gillespie Tax Management Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
730,000
730,000
2
Property, plant and equipment
246,621
234,237
3
976,621
964,237
Current assets
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
Capital and reserves
Called up share capital
100
100
Retained earnings
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.
Karen Reape Director
These financial statements were approved and authorised for issue by the Board on 14 August 2024 and were signed by:
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4
Registered Number :
SC520868
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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5
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.
Registered address:
1 Inverleith Gardens
Edinburgh
EH3 5PU
The presentation currency is £ sterling.
1. Accounting policies
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
20% Straight line
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
Cost or valuation
£
At 01 April 2023
730,000
At 31 March 2024
730,000
Net book value
At 31 March 2024
730,000
At 31 March 2023
730,000
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6
For the year ended 31 March 2024
Gillespie Tax Management Ltd
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Plant and
machinery
Land and
buildings
£
£
£
Cost or
valuation
At 01 April 2023
240,751
9,788
230,963
14,805
14,805
-
Additions
At 31 March 2024
230,963
24,593
255,556
Provision for depreciation and impairment
At 01 April 2023
6,514
6,514
-
Charge for year
2,421
2,421
-
At 31 March 2024
8,935
8,935
-
At 31 March 2024
Net book value
230,963
15,658
246,621
At 31 March 2023
230,963
3,274
234,237
4. Trade and other receivables
2023
2024
£
£
Trade debtors
78,546
71,826
Other debtors
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
Bank loans and overdraft
20,000
20,000
Trade creditors
-
5,000
Taxation and social security
117,070
87,716
Accruals and deferred income
3,070
4,737
Directors' loan accounts
-
9,232
Other creditors
39,051
40,636
222,394
210,803
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7
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
£
£
Bank loans and overdraft
31,667
51,667
Bank loans and overdraft (secured)
211,064
253,988
Other creditors
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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