Company registration number 08259989 (England and Wales)
GS VERDE LAW LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GS VERDE LAW LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GS VERDE LAW LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
40,230
65,856
Current assets
Debtors
4
1,344,016
2,136,299
Cash at bank and in hand
4,136
3,879
1,348,152
2,140,178
Creditors: amounts falling due within one year
5
(1,006,260)
(1,639,672)
Net current assets
341,892
500,506
Total assets less current liabilities
382,122
566,362
Creditors: amounts falling due after more than one year
6
(14,941)
(220,449)
Provisions for liabilities
(15,114)
(6,205)
Net assets
352,067
339,708
Capital and reserves
Called up share capital
7
1,200
1,200
Share premium account
105,300
105,300
Profit and loss reserves
245,567
233,208
Total equity
352,067
339,708

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 November 2025 and are signed on its behalf by:
Mr N Greenaway
Director
Company Registration No. 08259989
GS VERDE LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

GS Verde Law Limited is a private company limited by shares incorporated in England and Wales. The registered office is Greenaway Scott Limited, The Maltings, East Tyndall Street, Cardiff, CF24 5EZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% on cost
Fixtures and fittings
25% on reducing balance
Computers
33% on cost
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction p rice. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

GS VERDE LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GS VERDE LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
21
3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2024
15,700
74,328
76,683
166,711
Additions
-
0
-
0
221
221
At 31 December 2024
15,700
74,328
76,904
166,932
Depreciation and impairment
At 1 January 2024
7,305
45,398
48,152
100,855
Depreciation charged in the year
2,354
8,313
15,180
25,847
At 31 December 2024
9,659
53,711
63,332
126,702
Carrying amount
At 31 December 2024
6,041
20,617
13,572
40,230
At 31 December 2023
8,395
28,930
28,531
65,856
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
149,564
164,025
Amounts owed by group undertakings
896,842
1,205,395
Other debtors
297,610
766,879
1,344,016
2,136,299
GS VERDE LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
608,532
1,285,064
Trade creditors
148,132
154,178
Taxation and social security
190,576
136,485
Other creditors
59,020
63,945
1,006,260
1,639,672

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,941
216,999
Other creditors
-
0
3,450
14,941
220,449

The bank loan and overdraft are secured by a fixed and floating charge over the assets of the company and a personal guarantee by a director.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 1p each
96,000
96,000
960
960
Ordinary B of 1p each
12,000
12,000
120
120
Ordinary C of 1p each
12,000
12,000
120
120
120,000
120,000
1,200
1,200
8
Parent company

The company is a wholly owned subsidiary of GS Verde Holdings Limited, whose registered office address is The Loft a t The Maltings, East Tyndall Street, Cardiff, CF24 5EZ.

The ultimate parent company is GS Verde Group Limited, whose registered office address is The Loft a t The Maltings, East Tyndall Street, Cardiff, CF24 5EZ.

9
Prior year adjustment

A prior year adjustment has been made in respect of Software development costs that had previously been capitalised as Intangible Assets. These have been restated as revenue costs resulting in a reduction in Profit and Net Assets of £137,696 in the prior year.

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