GP Tax Limited - Filleted accounts

Registered number

03957933

GP Tax Limited

Filleted Accounts

31 March 2025

GP Tax Limited
Registered number:		03957933
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		35,321			46,480

Current assets
Debtors	4	157,052			119,767
Cash at bank and in hand		115,607			78,398
		272,659			198,165

Creditors: amounts falling due within one year	5	(76,476)			(50,054)

Net current assets			196,183			148,111

Total assets less current liabilities			231,504			194,591

Creditors: amounts falling due after more than one year	6		(30,022)			(33,374)

Provisions for liabilities			(8,830)			(11,620)


Net assets			192,652			149,597

Capital and reserves
Called up share capital			8			8
Profit and loss account			192,644			149,589

Shareholders' funds			192,652			149,597

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




G M Peck
Director
Approved by the board on 24 December 2025

GP Tax Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			7		7


3	Tangible fixed assets
		Plant and machinery		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	11,636		60,023		71,659
	Additions	614		-		614
	At 31 March 2025	12,250		60,023		72,273

	Depreciation
	At 1 April 2024	10,173		15,006		25,179
	Charge for the year	519		11,254		11,773
	At 31 March 2025	10,692		26,260		36,952

	Net book value
	At 31 March 2025	1,558		33,763		35,321
	At 31 March 2024	1,463		45,017		46,480


4	Debtors			2025		2024
£					£

	Trade debtors			137,567		108,267
	Other debtors			19,485		11,500
				157,052		119,767


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			3,351		3,351
	Trade creditors			7,365		7,708
	Taxation and social security costs			61,579		37,012
	Other creditors			4,181		1,983
				76,476		50,054


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			30,022		33,374


7	Related party transactions

	During the year the directors charged the company rent for the use of offices totalling £6,600 (2024: £7,100).


8	Other information

	GP Tax Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Kempston
	Mill Hill
	Edenbridge
	Kent
	TN8 5DQ