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G H Financial Services Limited

Financial Statements for the Year Ended 31 May 2024






G H Financial Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: G J Harrison





SECRETARY: V Harrison





REGISTERED OFFICE: A4 Monument View
Summerfield Avenue
Chelston Business Park
Wellington
Somerset
TA21 9ND





REGISTERED NUMBER: 06591199 (England and Wales)





ACCOUNTANTS: BPU Limited
The Counting House
Pound Field
Llantwit Major
Vale of Glamorgan
CF61 1DL

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
G H Financial Services Limited


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 G H Financial Services Limited for the year ended 31 May 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 G H Financial Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G H Financial Services Limited and state those matters that we have agreed to state to the director of G H Financial Services Limited 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 G H Financial Services Limited and its director for our work or for this report.

It is your duty to ensure that G H Financial Services Limited 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 G H Financial Services Limited. You consider that G H Financial Services Limited 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 G H Financial Services Limited. 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.






BPU Limited


14 February 2025

G H Financial Services Limited (Registered number: 06591199)

Balance Sheet
31 May 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,964 4,808
3,964 4,808

CURRENT ASSETS
Debtors 6 86,179 106,902
Cash at bank 98,534 127,942
184,713 234,844
CREDITORS
Amounts falling due within one year 7 95,726 97,394
NET CURRENT ASSETS 88,987 137,450
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,951

142,258

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 92,851 142,158
SHAREHOLDERS' FUNDS 92,951 142,258

G H Financial Services Limited (Registered number: 06591199)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 21 January 2025 and were signed by:





G J Harrison - Director


G H Financial Services Limited (Registered number: 06591199)

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


1. STATUTORY INFORMATION

G H Financial Services Limited 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 represents income earned in the period, net of a provision for potential clawback of insurance commission.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Computer equipment - 33% straight line

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.

G H Financial Services Limited (Registered number: 06591199)

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


2. ACCOUNTING POLICIES - continued

Pension costs
Employer pension contributions are paid on behalf of the Directors and charged to the Profit and Loss account in the accounting year they are paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 240,000
AMORTISATION
At 1 June 2023
and 31 May 2024 240,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 June 2023 20,715 24,216 44,931
Additions 2,166 1,110 3,276
At 31 May 2024 22,881 25,326 48,207
DEPRECIATION
At 1 June 2023 19,463 20,660 40,123
Charge for year 749 3,371 4,120
At 31 May 2024 20,212 24,031 44,243
NET BOOK VALUE
At 31 May 2024 2,669 1,295 3,964
At 31 May 2023 1,252 3,556 4,808

G H Financial Services Limited (Registered number: 06591199)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 86,179 106,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 25,037 39,031
Taxes & social security costs 14,045 27,076
Other creditors & accruals 56,644 31,287
95,726 97,394