Garfield Smith Solicitors Limited Accounts






Garfield Smith Solicitors Limited

	Company No. 09378978
		Information for Filing with The Registrar
		31 January 2026

The Director presents his report and the accounts for the year ended 31 January 2026.

Principal activities
The principal activity of the company during the year under review was Law Firm.




Director

The Director who served at any time during the year was as follows:

G.J. Smith









































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

G.J. Smith
Director
11 August 2026

at	31 January 2026
Company No.		09378978	Notes	2026	2025
				£	£
Fixed assets
	Intangible assets		5	760	760
	Tangible assets		6	31,040	39,205
	Investment property		7	28,228	28,228
	Investments		8	290,690	262,915
				350,718	331,108
Current assets

	Debtors		9	247,278	45,386

	Cash at bank and in hand			-	1,217
				247,278	46,603
Creditors: Amount falling due within one year			10	(264,463)	(143,042)
Net current liabilities				(17,185)	(96,439)
Total assets less current liabilities				333,533	234,669
Creditors: Amounts falling due after more than one year			11	-	(11,882)
Provisions for liabilities
	Deferred taxation		12	-	(9,801)
	Other provisions		13	(1,406)	-
Net assets				332,127	212,986

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		15	332,126	212,985

Total equity				332,127	212,986



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 11 August 2026 and signed on its behalf by:
G.J. Smith
Director
11 August 2026

for the year ended 31 January 2026

General information

Garfield Smith Solicitors Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 09378978

Its registered office is:

Blackwell House

Guildhall Yard

London, EC2V 5AE

The accounts have been prepared in accordance and comply with FRS 102 and Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Revenue recognition

Turnover represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent and exclude VAT.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

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.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Leasehold land and buildings

10% Reducing Balance

Plant and machinery

25% Reducing Balance

Motor vehicles

25% Reducing Balance

Furniture, fittings and equipment

25% Reducing Balance

Leased assets

Assets obtained under lease arrangements are capitalised on the balance sheet as right-of-use assets within tangible fixed assets, with a corresponding lease liability recognised for future payment obligations. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and their estimated useful lives.
Assets acquired under hire purchase contracts are capitalised at the fair value of the asset at inception. Because these contracts contain an ultimate transfer of ownership, these assets are depreciated over their full useful economic lives in line with company-owned assets.
Leases are recognised on the balance sheet where a contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Contracts meeting this criteria are capitalised, except for short-term leases (12 months or less) and leases of low-value assets, which are expensed straight-line to the profit and loss account.

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Work In Progress

Work in Progress relates to unbilled income on individual client assignments and is included in current assets, excluding VAT.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2026	2025
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Taxation
		(a) Tax on profit on ordinary activities	2026	2025
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	115,536	102,974

		Total corporation tax	115,536	102,974

		Origination and reversal of timing differences	(3,002)	(2,691)

		Total deferred tax	(3,002)	(2,691)

		Tax on profit on ordinary activities	112,534	100,283

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The differences are reconciled below:
		Higher	2026	2025
		1615	£	£
		Profit on ordinary activities before tax	443,675	390,915

		Standard rate of corporation tax in the United Kingdom	25%	25%

		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	110,919	97,729
		Expenses not deductible for tax purposes	1,615	2,554




		Tax on profit on ordinary activities	112,534	100,283

5	Intangible fixed assets
			Patents and trade-marks	Total
			£	£
		Cost
		At 1 February 2025	760	760


		At 31 January 2026	760	760
		Amortisation and impairment





		Net book values
		At 31 January 2026	760	760
		At 31 January 2025	760	760

6	Tangible fixed assets
			Land and buildings	Plant and machinery	Motor vehicles	Total
			£	£	£	£
		Cost or revaluation
		At 1 February 2025	3,843	21,047	65,136	90,026
		Additions	-	1,741	-	1,741



		At 31 January 2026	3,843	22,788	65,136	91,767
		Depreciation
		At 1 February 2025	2,286	18,453	30,082	50,821
		Charge for the year	156	987	8,763	9,906



		At 31 January 2026	2,442	19,440	38,845	60,727
		Net book values
		At 31 January 2026	1,401	3,348	26,291	31,040
		At 31 January 2025	1,557	2,594	35,054	39,205

7	Investment property
			Investment Property
			£
		Valuation
		At 1 February 2025	28,228



		At 31 January 2026	28,228

8	Investments
			Other investments	Total
			£	£
		Cost or valuation
		At 1 February 2025	262,915	262,915
		Additions	27,775	27,775


		At 31 January 2026	290,690	290,690
		Provisions/Impairment





		Net book values
		At 31 January 2026	290,690	290,690
		At 31 January 2025	262,915	262,915

9	Debtors
			2026	2025
			£	£
		Trade debtors	244,949	36,859




		Loans to directors	-	4,000
		Other debtors	(6,799)	-
		Prepayments and accrued income	9,128	4,527
			247,278	45,386

10	Creditors:
		amounts falling due within one year
			2026	2025
			£	£

		Bank loans and overdrafts	4,386	-
		Other loans	4,378	4,777

		Trade creditors	18,520	11,861

		Taxes and social security	235,528	123,515


		Accruals and deferred income	1,651	2,889
			264,463	143,042

11	Creditors:
		amounts falling due after more than one year
			2026	2025
			£	£






		Other creditors	-	11,882

			-	11,882

12	Deferred taxation
			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 February 2025	9,801	9,801
		Charge to the profit and loss account for the period	(9,801)	(9,801)




			2026	2025
			£	£



		Other timing differences	-	9,801
			-	9,801

13	Provision for liabilities
			Other provisions	Total
			£	£



		Provision for Interest Charges	1,406	1,406
		At 31 January 2026	1,406	1,406

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the inital measurement is on a present value basis.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.