REGISTERED NUMBER: 09921899 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GILROY STEEL SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K J Steel

Mrs C L Page

REGISTERED OFFICE:

16 Market Place

Brackley

Northamptonshire

NN13 7BG

REGISTERED NUMBER:

09921899 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Tangible assets

4

85,206

32,506

CURRENT ASSETS

Debtors

5

224,481

213,059

Cash at bank and in hand

2,091,470

1,771,617

2,315,951

1,984,676

CREDITORS

Amounts falling due within one year

6

252,530

60,711

NET CURRENT ASSETS

2,063,421

1,923,965

TOTAL ASSETS LESS CURRENT LIABILITIES

2,148,627

1,956,471

CREDITORS

Amounts falling due after more than one year

7

(9,600

)

-

PROVISIONS FOR LIABILITIES

8

(6,910

)

(7,906

)

NET ASSETS

2,132,117

1,948,565

CAPITAL AND RESERVES

Called up share capital

9

102

102

Retained earnings

2,132,015

1,948,463

SHAREHOLDERS' FUNDS

2,132,117

1,948,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

Mrs K J Steel - Director

1.	STATUTORY INFORMATION

Gilroy Steel Solicitors Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Office equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Short

Motor

Office

leasehold

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

-

61,007

105,644

166,651

Additions

56,845

-

11,350

68,195

At 31 March 2025

56,845

61,007

116,994

234,846

DEPRECIATION

At 1 April 2024

-

37,415

96,730

134,145

Charge for year

-

5,898

9,597

15,495

At 31 March 2025

-

43,313

106,327

149,640

NET BOOK VALUE

At 31 March 2025

56,845

17,694

10,667

85,206

At 31 March 2024

-

23,592

8,914

32,506

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Short

leasehold

£

COST

Additions

12,000

At 31 March 2025

12,000

NET BOOK VALUE

At 31 March 2025

12,000

Additions to short term leasehold represent costs to 31st March 2025 of improvements to new office premises along with the lease agreement which is for a period of 5 year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

144,103

117,484

Other debtors

4,832

4,032

Prepayments and accrued income

75,546

91,543

224,481

213,059

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,178

900

Corporation tax

143,830

2,870

Social security and other taxes

12,079

7,853

VAT

88,527

44,957

Other creditors

2,400

-

Directors' current accounts

281

281

Accruals and deferred income

4,235

3,850

252,530

60,711

The balance shown in other creditors contains the total balance of future minimum lease payments under non-cancellable operating leases due within 1 year and commenced in September 2024.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

9,600

-

The balance shown in other creditors contains the total balance of future minimum lease payments under non-cancellable operating leases due over 1 year which commenced in September 2024.

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

6,910

7,906

Deferred

tax

£

Balance at 1 April 2024

7,906

Movement

(996

)

Balance at 31 March 2025

6,910

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary A

£1

100

100

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

102

102

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K J Steel.