| Gillespie Tax Management Ltd |
| Registered Number:SC520868 |
For the year ended 31 March 2025
Scotland
Unaudited Financial Statements
For the year ended 31 March 2025
Gillespie Tax Management Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Gillespie Tax Management Ltd
Statement of Financial Position
2024
2025
730,000
730,000
2
| Property, plant and equipment |
243,882
246,621
3
973,882
976,621
| Trade and other receivables |
90,546
181,355
4
247,419
| Cash and cash equivalents |
240,369
421,724
337,965
| Trade and other payables: amounts falling due within one |
| year |
(222,394)
(231,392)
5
115,571
190,332
Net current assets
| Total assets less current liabilities |
1,164,214
1,092,192
| Trade and other payables: amounts falling due after more |
| than one year |
(318,731)
(305,689)
6
858,525
Net assets
773,461
100
100
858,425
773,361
858,525
773,461
Shareholders' funds
| For the year ended 31 March 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006 |
| The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| These financial statements were approved and authorised for issue by the Board on 16 September 2025 and were signed by: |
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For the year ended 31 March 2025
Gillespie Tax Management Ltd
Statement of Financial Position Continued
| The notes form part of these financial statements |
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For the year ended 31 March 2025
Gillespie Tax Management Ltd
Notes to the Financial Statements
Statutory Information
| Gillespie Tax Management Ltd is a private limited company, limited by shares, domiciled in Scotland, registration |
| number SC520868. |
1 Inverleith Gardens
Edinburgh
EH3 5PU
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Goodwill
| Goodwill, being the amount paid in connection with the acquisition of the business is deemed by the directors to appreciate in value, therefore no amortisiation is required. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Government grants
| Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Pension costs and other post-retirement benefits
| The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 March 2025
Gillespie Tax Management Ltd
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
Goodwill
730,000
730,000
730,000
730,000
| 3. Property, plant and equipment |
255,556
24,593
230,963
1,377
1,377
-
230,963
25,970
256,933
| Provision for depreciation and impairment |
8,935
8,935
-
Charge for year
4,116
4,116
-
13,051
13,051
-
230,963
12,919
243,882
230,963
15,658
246,621
| 4. Trade and other receivables |
2024
2025
61,355
78,546
120,000
12,000
90,546
181,355
| Short-term debtors are measured at fair value at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and measured subsequently at amortised cost using the effective interest method, less any impairment. Included with in Other Debtors is an amount of £120,000, (2024: £0), which is an inter-company loan provided to an associated company. This loan is interest free and repayable on demand. |
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For the year ended 31 March 2025
Gillespie Tax Management Ltd
Notes to the Financial Statements Continued
| 5. Trade and other payables: amounts falling due within one year |
2024
2025
| Bank loans and overdraft (secured) |
50,952
43,203
20,000
20,000
| Taxation and social security |
114,814
117,070
| Accruals and deferred income |
1,331
3,070
4,175
-
40,120
39,051
231,392
222,394
| Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 6. Trade and other payables: amounts falling due after more than one year |
2024
2025
11,667
31,667
| Bank loans and overdraft (secured) |
256,022
211,064
38,000
76,000
305,689
318,731
| The Bank of Scotland hols standard security and floating charges over the property at 1 Inverleith Gardens, owned by the comoany, together with personal guarantees from the Director's of the company. |
| 7. Related party transactions |
| The office rental paid during the year for the Salamander office, is paid to a company owned partly by the Directors |
| and shareholders of Gillespie Tax Management Ltd. The related company is Beamer Street Ltd. |
| 8. Average number of persons employed |
During the year the average number of employees was 10 (2024 : 11)
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