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REGISTERED NUMBER: SC537340 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GSL FINANCIAL SERVICES LTD

GSL FINANCIAL SERVICES LTD (REGISTERED NUMBER: SC537340)






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


GSL FINANCIAL SERVICES LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: G Lennox





SECRETARY: Mrs S Lennox





REGISTERED OFFICE: 15 St Machans Way
Lennoxtown
Glasgow
G66 7HG





REGISTERED NUMBER: SC537340 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

GSL FINANCIAL SERVICES LTD (REGISTERED NUMBER: SC537340)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,260 4,348

CURRENT ASSETS
Cash at bank and in hand 68,579 86,161

CREDITORS
Amounts falling due within one year 5 13,624 31,742
NET CURRENT ASSETS 54,955 54,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,215

58,767

PROVISIONS FOR LIABILITIES 619 826
NET ASSETS 57,596 57,941

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,496 57,841
SHAREHOLDERS' FUNDS 57,596 57,941

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 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.

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 12 November 2024 and were signed by:





G Lennox - Director


GSL FINANCIAL SERVICES LTD (REGISTERED NUMBER: SC537340)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gsl Financial Services Ltd is a private company, limited by shares , registered in Scotland. 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 commission received .

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

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

GSL FINANCIAL SERVICES LTD (REGISTERED NUMBER: SC537340)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 8,191
DEPRECIATION
At 1 April 2023 3,843
Charge for year 1,088
At 31 March 2024 4,931
NET BOOK VALUE
At 31 March 2024 3,260
At 31 March 2023 4,348

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 15,772
Tax 9,986 12,720
Social security and other taxes 44 39
Directors' current accounts 3,594 3,211
13,624 31,742

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 7,139 -
Between one and five years 12,494 -
19,633 -

7. RELATED PARTY DISCLOSURES

The company director was owed £3,594 (2023-£3,211) at the year end. The maximum amount outstanding during the year was £3,594.

8. ULTIMATE CONTROLLING PARTY

The controlling party is G Lennox.