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REGISTERED NUMBER: 08405524 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Governance Solutions Ltd

Governance Solutions Ltd (Registered number: 08405524)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Governance Solutions Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs S L McBride





REGISTERED OFFICE: First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU





REGISTERED NUMBER: 08405524 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU

Governance Solutions Ltd (Registered number: 08405524)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,567 2,931

CURRENT ASSETS
Debtors 5 249,023 204,355
Cash at bank 111,594 116,452
360,617 320,807
CREDITORS
Amounts falling due within one year 6 24,189 12,021
NET CURRENT ASSETS 336,428 308,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,995

311,717

CAPITAL & RESERVES
Called up share capital 7 1 1
Retained earnings 338,994 311,716
SHAREHOLDERS' FUNDS 338,995 311,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 director acknowledges her 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.

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

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 30 August 2024 and were signed by:





Mrs S L McBride - Director


Governance Solutions Ltd (Registered number: 08405524)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Governance Solutions Ltd is a private company, limited by shares , registered in England and Wales. 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 comprises the invoiced amounts of services excluding value added tax calculated under the Flat Rate Scheme, adjusted for amounts invoiced in arrears or advance at both the beginning and end of the year, such that revenue is recognised in line with performance under the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Governance Solutions Ltd (Registered number: 08405524)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2023 19,811
Additions 1,060
At 31 March 2024 20,871
DEPRECIATION
At 1 April 2023 16,880
Charge for year 1,424
At 31 March 2024 18,304
NET BOOK VALUE
At 31 March 2024 2,567
At 31 March 2023 2,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,101 -
Other debtors 229,922 204,355
249,023 204,355

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 16,792 9,921
Social security & other taxes 4,817 -
Accrued expenses 2,580 2,100
24,189 12,021

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 ordinary £1 1 1

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs S L McBride
Balance outstanding at start of year 146,928 117,533
Amounts advanced 69,656 50,290
Amounts repaid (43,581 ) (20,895 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 173,003 146,928

Governance Solutions Ltd (Registered number: 08405524)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Interest of £3,080 was charged on the outstanding amount.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S L McBride.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Governance Solutions Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Governance Solutions Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Governance Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Governance Solutions Ltd and state those matters that we have agreed to state to the director of Governance Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Governance Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Governance Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Governance Solutions Ltd. You consider that Governance Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Governance Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU


30 August 2024