GSI Wills and Trusts LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC352117 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GSI WILLS AND TRUSTS LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P Mitchell

GSI Wealth Management Limited

Mrs J L Mitchell

REGISTERED OFFICE:

1 Churchill Court

Horton's Way

WESTERHAM

Kent

TN16 1BT

REGISTERED NUMBER:

OC352117 (England and Wales)

ACCOUNTANTS:

Wells Associates

Ground Floor Oakhurst House

77 Mount Ephraim

Tunbridge Wells

Kent

TN4 8BS

FIXED ASSETS

Property, plant and equipment

4

2,202

4,833

CURRENT ASSETS

Debtors

5

3,139

19,228

Cash at bank

11,139

2,177

14,278

21,405

CREDITORS

Amounts falling due within one year

6

(11,547

)

(12,412

)

NET CURRENT ASSETS

2,731

8,993

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,933

13,826

CREDITORS

Amounts falling due after more than one year

7

(1,504

)

(10,397

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,429

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

3,429

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

3,429

Amounts due from members

5

(2,196

)

(16,837

)

1,233

(13,408

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 November 2025 and were signed by:

P Mitchell - Designated member

1.	STATUTORY INFORMATION

GSI Wills and Trusts LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

Assets held under hire purchase contracts and finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its property, plant and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

25,972

1,822

8,319

36,113

DEPRECIATION

At 1 April 2024

21,274

1,687

8,319

31,280

Charge for year

2,597

34

-

2,631

At 31 March 2025

23,871

1,721

8,319

33,911

NET BOOK VALUE

At 31 March 2025

2,101

101

-

2,202

At 31 March 2024

4,698

135

-

4,833

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

1,200

Amounts due from members

2,196

16,837

Other debtors

108

VAT

835

1,083

3,139

19,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

8,893

8,673

Trade creditors

396

792

Other creditors

2,258

141

Accrued expenses

-

2,806

11,547

12,412

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans - 1-2 years

1,504

8,893

Bank loans - 2-5 years

-

1,504

10,397

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

-

1,642

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.