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REGISTERED NUMBER: 07424156 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2024

for

GilesSmith Group Ltd

GilesSmith Group Ltd (Registered number: 07424156)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GilesSmith Group Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: K J Smith
N S Smith





REGISTERED OFFICE: 27 East Street
Chichester
West Sussex
PO19 1HS





REGISTERED NUMBER: 07424156 (England and Wales)





ACCOUNTANTS: Reeves Wilkinson Limited trading as Botting & Co
Chartered Certified Accountants
41b Beach Road
Littlehampton
West Sussex
BN17 5JA

GilesSmith Group Ltd (Registered number: 07424156)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 32,393 40,491

CURRENT ASSETS
Debtors 5 91,261 76,653
Cash at bank 17,658 27,165
108,919 103,818
CREDITORS
Amounts falling due within one year 6 (103,495 ) (79,605 )
NET CURRENT ASSETS 5,424 24,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,817

64,704

CREDITORS
Amounts falling due after more than one
year

7

(8,242

)

(18,297

)
NET ASSETS 29,575 46,407

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 29,573 46,405
SHAREHOLDERS' FUNDS 29,575 46,407

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GilesSmith Group Ltd (Registered number: 07424156)

Balance Sheet - continued
31 October 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:





K J Smith - Director


GilesSmith Group Ltd (Registered number: 07424156)

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

1. STATUTORY INFORMATION

GilesSmith Group 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 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.
Plant and machinery etc - 20% on reducing balance

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Since the year end, notice has been given to the company that it's main contract will be terminated due to a restructure of the customer's business. The directors have given consideration to the company's position and have concluded that there is sufficient funds for the company to continue at present while new options are researched. These accounts have therefore been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 171,276
DEPRECIATION
At 1 November 2023 130,785
Charge for year 8,098
At 31 October 2024 138,883
NET BOOK VALUE
At 31 October 2024 32,393
At 31 October 2023 40,491

GilesSmith Group Ltd (Registered number: 07424156)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Amounts recoverable on contract 60,875 57,810
Other debtors 30,386 18,843
91,261 76,653

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 10,201 10,220
Taxation and social security 85,393 63,315
Other creditors 7,901 6,070
103,495 79,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 8,242 18,297

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total guarantees and annual commitments of £63,000.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
K J Smith and N S Smith
Balance outstanding at start of year - 9,880
Amounts repaid - (9,880 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -