REGISTERED NUMBER: 08355246 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

GSO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Gray

G Osborne

REGISTERED OFFICE:

Cheribourne House

45A Station Road

Willington

Bedford

Bedfordshire

MK44 3QL

REGISTERED NUMBER:

08355246 (England and Wales)

ACCOUNTANTS:

Baker Noel

Cheribourne House

45A Station Road

Willington

Bedford

Bedfordshire

MK44 3QL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

267,805

184,620

267,805

184,620

CURRENT ASSETS

Stocks

19,520

19,344

Debtors

6

1,564,149

1,716,156

Cash at bank and in hand

1,524,143

844,110

3,107,812

2,579,610

CREDITORS

Amounts falling due within one year

7

2,090,914

1,645,275

NET CURRENT ASSETS

1,016,898

934,335

TOTAL ASSETS LESS CURRENT LIABILITIES

1,284,703

1,118,955

PROVISIONS FOR LIABILITIES

54,945

39,316

NET ASSETS

1,229,758

1,079,639

CAPITAL AND RESERVES

Called up share capital

22

22

Retained earnings

1,229,736

1,079,617

SHAREHOLDERS' FUNDS

1,229,758

1,079,639

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 3 August 2026 and were signed on its behalf by:

M A Gray - Director

G Osborne - Director

1.	STATUTORY INFORMATION

GSO 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

Revenue from contracts to provide services is recognised in the period in which the services are provided or in accordance with the contract conditions.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on cost and new contract costs average contract term

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Mobilisation costs on a new contract are capitalised under plant and machinery and depreciated over the average contract term.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Lease incentives are recognised 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 745 (2025 - 631 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

146,384

AMORTISATION

At 1 April 2025

and 31 March 2026

146,384

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

422,782

10,120

62,284

18,224

513,410

Additions

140,789

4,191

33,630

11,603

190,213

Disposals

-

-

(37,333

)

-

(37,333

)

At 31 March 2026

563,571

14,311

58,581

29,827

666,290

DEPRECIATION

At 1 April 2025

269,010

7,239

39,212

13,329

328,790

Charge for year

83,446

1,945

10,744

4,678

100,813

Eliminated on disposal

-

-

(31,118

)

-

(31,118

)

At 31 March 2026

352,456

9,184

18,838

18,007

398,485

NET BOOK VALUE

At 31 March 2026

211,115

5,127

39,743

11,820

267,805

At 31 March 2025

153,772

2,881

23,072

4,895

184,620

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,519,066

1,166,549

Amounts owed by group undertakings

1

517,823

Other debtors

45,082

31,784

1,564,149

1,716,156

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

119,965

61,243

Taxation and social security

1,103,920

916,715

Other creditors

867,029

667,317

2,090,914

1,645,275