REGISTERED NUMBER: 04188053 (England and Wales)

Financial Statements for the Year Ended 31 May 2026

for

Garstang Independent Financial Services

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C J Blanthorn-Hazell

M Galpin

REGISTERED OFFICE:

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

REGISTERED NUMBER:

04188053 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

12,040

5,037

CURRENT ASSETS

Debtors

5

47,211

71,110

Investments

6

36,834

35,156

Cash at bank and in hand

134,731

115,086

218,776

221,352

CREDITORS

Amounts falling due within one year

7

67,790

98,932

NET CURRENT ASSETS

150,986

122,420

TOTAL ASSETS LESS CURRENT LIABILITIES

163,026

127,457

PROVISIONS FOR LIABILITIES

9

5,970

3,800

NET ASSETS

157,056

123,657

CAPITAL AND RESERVES

Called up share capital

10

300

300

Undistributable reserve

11

8,875

7,617

Retained earnings

147,881

115,740

SHAREHOLDERS' FUNDS

157,056

123,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 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 7 July 2026 and were signed on its behalf by:

M Galpin - Director

1.	STATUTORY INFORMATION

Garstang Independent Financial Services 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.

Fixtures and fittings

-

25% on reducing balance

Computer 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

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 8 (2025 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2025

15,989

21,463

37,452

Additions

-

13,347

13,347

Disposals

(493

)

(620

)

(1,113

)

At 31 May 2026

15,496

34,190

49,686

DEPRECIATION

At 1 June 2025

13,197

19,218

32,415

Charge for year

697

5,645

6,342

Eliminated on disposal

(491

)

(620

)

(1,111

)

At 31 May 2026

13,403

24,243

37,646

NET BOOK VALUE

At 31 May 2026

2,093

9,947

12,040

At 31 May 2025

2,792

2,245

5,037

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.26

31.5.25

£

£

Trade debtors

27,086

27,934

Other debtors

-

2,000

Property management account

16,616

35,944

Prepayments

3,509

5,232

47,211

71,110

6.	CURRENT ASSET INVESTMENTS

31.5.26

31.5.25

£

£

Listed investments

36,834

35,156

The current asset investments are stated at market value.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.26

31.5.25

£

£

Corporation tax

35,936

69,502

Social security and other taxes

9,246

6,426

Other creditors

687

149

Directors' current accounts

13,668

15,402

Accrued expenses

8,253

7,453

67,790

98,932

8.	LEASING AGREEMENTS

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

31.5.26

31.5.25

£

£

Within one year

24,638

19,530

Between one and five years

73,990

76,500

98,628

96,030

9.	PROVISIONS FOR LIABILITIES

31.5.26

31.5.25

£

£

Deferred tax

5,970

3,800

Deferred

tax

£

Balance at 1 June 2025

3,800

Charge to Income Statement during year

2,170

Balance at 31 May 2026

5,970

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.26

31.5.25

value:

£

£

100

Ordinary

£1

100

100

100

A Ordinary

£1

100

100

100

B Ordinary

£1

100

100

300

300

11.

RESERVES

Undistributable

reserve

£

At 1 June 2025

7,617

Non distributable profits

1,258

At 31 May 2026

8,875

12.	CONTINGENT LIABILITIES

Where commission is received on indemnity terms it is liable to be repaid if the policy is cancelled during the indemnity period.

The majority of Garstang Independent Financial Services Limited's work is carried out on a lump sum basis, thereby negating the chance of a clawback being claimed.

For those policies that are not paid by lump sums, the directors believe that it is highly unlikely that these will be cancelled and consequently no provision has been made in these financial statements for any commission clawbacks.

13.	ULTIMATE CONTROLLING PARTY