REGISTERED NUMBER: 05382199 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

GMS RECOVERY SERVICES LTD

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

50

224

CURRENT ASSETS

Debtors

5

49,934

54,921

Cash at bank

36,791

47,980

86,725

102,901

CREDITORS

Amounts falling due within one year

6

21,584

18,230

NET CURRENT ASSETS

65,141

84,671

TOTAL ASSETS LESS CURRENT LIABILITIES

65,191

84,895

CREDITORS

Amounts falling due after more than one year

7

529

4,472

NET ASSETS

64,662

80,423

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

64,562

80,323

64,662

80,423

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2026 and were signed on its behalf by:

N J Male - Director

1.	STATUTORY INFORMATION

GMS Recovery Services Ltd is a private company, limited by shares, registered in England and Wales, registered number 05382199. Its registered office is Admiral House, Waterfront East, Brierley Hill, West Midlands, England, DY5 1XG.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the services provided;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive consideration due under the transaction;

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets 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. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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.

Going concern

At the time of approving the financial statements,the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

12,439

Disposals

(10,067

)

At 31 August 2025

2,372

DEPRECIATION

At 1 September 2024

12,215

Charge for year

174

Eliminated on disposal

(10,067

)

At 31 August 2025

2,322

NET BOOK VALUE

At 31 August 2025

50

At 31 August 2024

224

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

21,242

23,398

Amounts owed by group undertakings

9,815

11,723

Other debtors

18,877

19,800

49,934

54,921

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

3,857

3,857

Trade creditors

7,564

2,511

Amounts owed to group undertakings

517

1,350

Taxation and social security

4,061

3,111

Other creditors

5,585

7,401

21,584

18,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

529

4,472

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Brassington BA FCA (Senior Statutory Auditor)

for and on behalf of Blackthorns

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2025 and 31 August 2024:

31.8.25

31.8.24

£

£

A Male

Balance outstanding at start of year

(1,704

)

3,671

Amounts advanced

410

-

Amounts repaid

(394

)

(5,375

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,688

)

(1,704

)

These loans are unsecured, interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors who each control 50% of the called up share capital. Until 28 October 2024, N Male and Mrs E Newman-Male were considered to control 50% by virtue of their joint controlling interest in the called up share capital of GMS Group of Companies Limited, which owns 50% of the called up share capital of this company. From 28 October 2024, N Male is considered to control that 50% by virtue of his controlling interest in GMS Realisations Group Limited, which now owns 100% of the issued share capital of GMS Group of Companies Limited.