Gladstone Brookes Limited 31/12/2024 iXBRL

Company registration number: 06278129

Gladstone Brookes Limited

Unaudited filleted financial statements

31 December 2024

Gladstone Brookes Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Gladstone Brookes Limited

Directors and other information


Directors
	Anthony Chorlton
	Leon Moye	(Resigned 13 June 2024)


Company number	06278129


Registered office	Railex Business Centre
	Crossens Way, Marine Drive
	Southport
	Merseyside
	PR9 9LY


Business address	47 Museum Street
	Warrington
	WA1 1LD


Accountants	Forshaws Accountants
	Crossens Way Business Park
	Crossens Way
	Southport
	PR9 9LY

Gladstone Brookes Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Gladstone Brookes Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gladstone Brookes Limited for the year ended 31 December 2024 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that Gladstone Brookes 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 loss of Gladstone Brookes Limited. You consider that Gladstone Brookes 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 Gladstone Brookes 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.

Forshaws Accountants

Crossens Way Business Park

Crossens Way

Southport

PR9 9LY

8 July 2025

Gladstone Brookes Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Current assets
Debtors	5	545,130		619,205
Cash at bank and in hand		588,818		640,410
		__________		__________
		1,133,948		1,259,615
Creditors: amounts falling due
within one year	6	( 477,462)		( 590,554)
		__________		__________
Net current assets			656,486		669,061
			__________		__________
Total assets less current liabilities			656,486		669,061

			__________		__________
Net assets			656,486		669,061
			__________		__________

Capital and reserves
Called up share capital			2		2
Profit and loss account			656,484		669,059
			__________		__________
Shareholders funds			656,486		669,061
			__________		__________

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 July 2025 , and are signed on behalf of the board by:

Anthony Chorlton

Director

Company registration number: 06278129

Gladstone Brookes Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is Forshaws Chartered Accountants , Railex Business Centre, Crossens Way, Marine Drive, Southport, Merseyside, PR9 9LY. The principal activity of the company was that of claims management.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company ceased to trade on 24th June 2021 following the PPI deadline of 29 August 2019. The company does however still receive residual income from historic claims. Given this, the Directors believe it is appropriate to prepare the financial statements on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business, unless such costs were committed at the reporting date.

Turnover

Revenue from the rendering of services is recognised at the point at which formal confirmation is received from the relevant party that a claim on behalf of a client has been successful, as the company operates on a no win no fee basis.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Debtors

	2024	2023
	£	£
Trade debtors	-	73,036
Other debtors	545,130	546,169
	__________	__________
	545,130	619,205
	__________	__________

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,535	20,617
Corporation tax	-	25,151
Social security and other taxes	14,487	84,492
Other creditors	461,440	460,294
	__________	__________
	477,462	590,554
	__________	__________

7. Controlling party

The company is controlled by Lisa O'Neill, by virtue of her owning 100% of the issued share capital.