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REGISTERED NUMBER: OC352117 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GSI WILLS AND TRUSTS LLP

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GSI WILLS AND TRUSTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: P Mitchell
GSI Wealth Management Limited
Mrs J L Mitchell





REGISTERED OFFICE: 1 Churchill Court
Horton's Way
WESTERHAM
Kent
TN16 1BT





REGISTERED NUMBER: OC352117 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 4,833 7,476

CURRENT ASSETS
Debtors 5 19,228 25,865
Cash at bank 2,177 691
21,405 26,556
CREDITORS
Amounts falling due within one year 6 (12,412 ) (10,980 )
NET CURRENT ASSETS 8,993 15,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,826

23,052

CREDITORS
Amounts falling due after more than one
year

7

(10,397

)

(19,042

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,429

4,010

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

3,429

4,010

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 3,429 4,010
Amounts due from members 5 (16,837 ) (24,174 )
(13,408 ) (20,164 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18 November 2024 and were signed by:





P Mitchell - Designated member

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

GSI Wills and Trusts LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

Assets held under hire purchase contracts and finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its property, plant and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 25,972 1,822 8,319 36,113
DEPRECIATION
At 1 April 2023 18,677 1,641 8,319 28,637
Charge for year 2,597 46 - 2,643
At 31 March 2024 21,274 1,687 8,319 31,280
NET BOOK VALUE
At 31 March 2024 4,698 135 - 4,833
At 31 March 2023 7,295 181 - 7,476

GSI WILLS AND TRUSTS LLP (REGISTERED NUMBER: OC352117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,200 140
Amounts due from members 16,837 24,174
Other debtors 108 108
VAT 1,083 1,443
19,228 25,865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,673 8,459
Trade creditors 792 618
Other creditors 141 1,903
Accrued expenses 2,806 -
12,412 10,980

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,893 8,673
Bank loans - 2-5 years 1,504 10,369
10,397 19,042

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,642 1,642
Between one and five years - 1,642
1,642 3,284

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.