Registered number: 07684591

 

 

 

 

 

 

 

 

 

 

 

 

 

GUILDFORD DIOCESAN SERVICES LIMITED

 

 

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

 

FOR THE YEAR ENDED 31 DECEMBER 2024

Contents

 

Directors' Report

1 -2

 

 

Independent Auditors' Report

3 - 6

 

 

Statement of Income and Retained Earnings

7

 

 

Balance Sheet

8

 

 

Notes to the Financial Statements

9 - 11

 

Company Information:

 

 

 

Directors

Inigo Churchill (from 9 September 2024)

 

Geraldine Newbold (from 9 September 2024)

 

Stephen Roberts

 

Malcolm Twigger-Ross (to 9 September 2024)

 

 

Company Secretary

Inigo Churchill (from 9 September 2024)

 

Malcolm Twigger-Ross (to 9 September 2024)

 

 

Registered Number

07684591

 

 

Registered Office

Church House Guildford

 

Stag Hill

 

Guildford

 

GU2 7UP

 

GUILDFORD DIOCESAN SERVICES LIMITED

DIRECTORS' REPORT

For the year ended 31 December 2024

 

The directors present their report and the financial statements for the year ended 31 December 2024.

 

Activities and Results

 

The company's activities are principally the provision of building, consultancy and training services to schools. Turnover was £246,226 (2023: £210,102) and operating profit £92,412 (2023: £97,141).

 

Directors' responsibilities statement

 

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 

In preparing these financial statements, the directors are required to:

•

select suitable accounting policies for the Company's financial statements and then apply them consistently;

•

make judgments and accounting estimates that are reasonable and prudent; and

•

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Directors

 

The directors who served during the year and up to the date of this report were:

Inigo Churchill (from 9 September 2024)

Geraldine Newbold (from 9 September 2024)

Stephen Roberts

Malcolm Twigger-Ross (to 9 September 2024)

GUILDFORD DIOCESAN SERVICES LIMITED

DIRECTORS' REPORT

For the year ended 31 December 2024

 

Disclosure of information to auditors

 

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

•

so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware; and

•

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

 

Small companies note

 

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

 

Approved by the board and signed on its behalf:

 

 

 

 

Stephen Roberts

Date: 17 December 2025

Director

 

 

GUILDFORD DIOCESAN SERVICES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUILDFORD DIOCESAN SERVICES LIMITED

For the year ended 31 December 2024

 

Opinion

 

We have audited the financial statements of Guildford Diocesan Services Limited (the ‘company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including a summary of significant accounting policies.

 

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

 

In our opinion, the financial statements:

•

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

•

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

•

have been prepared in accordance with the requirements of the Companies Act 2006.

 

Basis for opinion

 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the “Auditor's responsibilities for the audit of the financial statements” section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

 

Conclusions relating to going concern

 

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

 

Other information

 

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

GUILDFORD DIOCESAN SERVICES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUILDFORD DIOCESAN SERVICES LIMITED

For the year ended 31 December 2024

 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

 

Opinions on other matters prescribed by the Companies Act 2006

 

In our opinion, based on the work undertaken in the course of the audit:

•

the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•

the directors' report have been prepared in accordance with applicable legal requirements.

 

Matters on which we are required to report by exception

 

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

•

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

•

the financial statements are not in agreement with the accounting records and returns; or

•

certain disclosures of directors' remuneration specified by law are not made; or

•

we have not received all the information and explanations we require for our audit.

•

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

 

Responsibilities of Directors

 

As explained more fully in the directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

GUILDFORD DIOCESAN SERVICES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUILDFORD DIOCESAN SERVICES LIMITED

For the year ended 31 December 2024

 

Auditor's responsibilities for the audit of the financial statements

 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

 

Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: the Companies Act 2006, tax legislation, safeguarding, pensions legislation, employment regulation, health and safety regulation, anti-bribery, corruption and fraud and anti-money laundering regulation.

 

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

•

Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;

•

Inspecting correspondence, if any, with relevant licensing or regulatory authorities;

•

Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and

•

Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

 

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006.

 

In addition, we evaluated the directors' and management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to accruals, revenue recognition (which we pinpointed to the cut off assertion) and significant one-off or unusual transactions.

 

Our audit procedures in relation to fraud included but were not limited to:

•

Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;

•

Gaining an understanding of the internal controls established to mitigate risks related to fraud;

 

GUILDFORD DIOCESAN SERVICES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GUILDFORD DIOCESAN SERVICES LIMITED

For the year ended 31 December 2024

 

•

Discussing amongst the engagement team the risks of fraud; and

•

Addressing the risks of fraud through management override of controls by performing journal entry testing.

 

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

 

Use of the audit report

 

This report is made solely to the company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body for our audit work, for this report, or for the opinions we have formed.

 

 

 

 

Nicola Wakefield (Senior Statutory Auditor)

for and on behalf of Forvis Mazars LLP

 

Chartered Accountants and Statutory Auditor

6 Sutton Plaza, Sutton Court Road, Sutton, Surrey SM1 4FS

 

Date: 18th December 2025

GUILDFORD DIOCESAN SERVICES LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

For the year ended 31 December 2024

 

 

 

2024

2023

 

 

 

 

 

Note

 

 

 

 

 

 

Turnover

 

246,226

210,102

 

 

 

 

Cost of Sales

 

(148,083)

(105,352)

 

 

 

 

Gross Profit

 

98,143

104,750

 

 

 

 

Administrative expenses

3

(5,731)

(7,609)

 

 

 

 

Operating profit

 

92,412

97,141

 

 

 

 

Profit after taxation

 

92,412

97,141

 

 

 

 

Profit for the year

 

92,412

97,141

 

All activities reported above, both in the current and preceding year, relate to continuing activities.

 

The notes on pages 9 to 11 form part of these financial statements.

GUILDFORD DIOCESAN SERVICES LIMITED

BALANCE SHEET

As at 31 December 2024

 

 

 

2024

2023

 

Note

 

 

Current Assets

 

 

 

Debtors: amounts falling due within one year

5

107,299

86,485

Cash at bank and in hand

 

52,968

50,409

 

 

160,267

136,894

Creditors: amounts falling due within one year

6

(67,854)

(46,829)

 

 

 

 

Net current assets

 

92,413

90,065

 

 

 

 

Total assets less current liabilities

 

92,413

90,065

 

 

 

 

Net assets

 

92,413

90,065

 

 

 

 

Capital and reserves

 

 

 

Called up share capital

7

1

1

Profit and loss account

8

92,412

90,064

 

 

 

 

 

 

92,413

90,065

 

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section IA - small entities.

 

The financial statements were approved and authorised for issue by the board and signed on its behalf by:

 

 

 

 

Inigo Churchill

Dated: 16 December 2025

Director

 

 

The notes on pages 9 to 11 form part of these financial statements.

GUILDFORD DIOCESAN SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

 

1     General information

 

Guildford Diocesan Services Limited is a member's limited liability company incorporated in England and Wales. The company number and registered office are as detailed on the company information page.

 

The principal activity of the company is to provide services on behalf of the Guildford Diocesan Board of Finance, primarily relating to projects administered through the Guildford Diocesan Board of Education.

 

Directors have reviewed working capital and capital expenditure requirements and as a result, directors are satisfied that it is appropriate to prepare these financial statements on a going concern basis under the historical cost convention.

 

2     Accounting Policies

 

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section IA of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 

The following principal accounting policies have been applied:

 

•     Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

 

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

o

the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract;

o

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

o

the costs incurred and the costs to complete the contract can be measured reliably.

 

•     Debtors

Short term debtors are measured at transaction price, less any impairment.

 

•     Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

GUILDFORD DIOCESAN SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

 

2     Accounting Policies (continued)

 

•     Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 

•     Creditors

Short term creditors are measured at the transaction price.

 

3.     Administrative expenses

 

 

2024

2023

 

£

£

 

 

 

Other expenses

727

491

Audit Fees

5,650

5,575

Irrecoverable debts

(646)

1,543

 

 

 

Total

5,731

7,609

 

4.     Employees

 

 

 

 

Staff costs were as follows:

 

 

 

2024

2023

 

£

£

 

 

 

Wages and salaries

65,198

26,331

National insurance contributions

6,989

2,671

Pension costs

9,943

3,862

 

 

 

Total

82,130

32,864

 

The average monthly number of employees during the year was 2 (2023: 1).

 

5.     Debtors: Amounts falling due within one year

 

 

2024

2023

 

£

£

 

 

 

Trade debtors

9,422

41,437

Other debtors

643

1,060

Prepayments and accrued income

97,234

43,988

 

 

 

 

107,299

86,485

 

GUILDFORD DIOCESAN SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2024

 

6.     Creditors: Amounts falling due within one year

 

 

2024

2023

 

£

£

 

 

 

Trade Creditors

13,067

8,541

Other taxation and social security

4,126

829

Amounts owed to parent company

48

48

Accruals and deferred income

50,613

37,411

 

 

 

 

67,854

46,829

 

7.     Share Capital

 

Allotted, called up and fully paid

2024

2023

 

£

£

 

 

 

£1 Ordinary share of £1

1

1

 

8.     Profit and loss account

 

 

2024

2023

 

£

£

 

 

 

Balance at 1 January

90,064

69,061

 

 

 

Distribution of profits under gift-aid legislation:

 

 

In relation to prior year profits

(90,064)

(69,061)

In relation to current year profits

-

(7,077)

Profit for the year

92,412

97,141

 

 

 

Balance at 31 December

92,412

90,064

 

9.     Controlling party

 

The ultimate parent undertaking and controlling party is the Guildford Diocesan Board of Finance, the accounts of which can be obtained by contacting Inigo Churchill at the registered office.