GFSM LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC404473

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,849		5,856

			4,849		5,856
CURRENT ASSETS
Debtors	5	10,833		10,798
Cash at bank and in hand		2,040		1,310

		12,873		12,108
Creditors: Amounts Falling Due Within One Year	6	(750 )		(750 )

NET CURRENT ASSETS (LIABILITIES)			12,123		11,358

TOTAL ASSETS LESS CURRENT LIABILITIES			16,972		17,214

NET ASSETS ATTRIBUTABLE TO MEMBERS			16,972		17,214

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		(41,986)		(453,075)
Other amounts		58,958		400,834

			16,972		(52,241)

Equity
Members' other interests
Other reserves		-		69,455

			-		69,455

			16,972		17,214

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			16,972		(52,241)
Members' other interests			-		69,455

			16,972		17,214

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GFSM LLP

Balance Sheet (continued)

As At 5 April 2026

For the year ending 5 April 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mrs Fiona Montagu Designated Member	Mr Gerald Montagu Designated Member
03/09/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

GFSM LLP is a limited liability partnership, incorporated in England & Wales, registered number OC404473 . The Registered Office is The Haven, Wambrook Close, Shenfield, CM13 2LR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% Reducing balance basis
Computer Equipment	33% Reducing balance basis

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2025: NIL)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 6 April 2025	6,034	21,086	27,120
Additions	-	1,417	1,417

As at 5 April 2026	6,034	22,503	28,537

Depreciation
As at 6 April 2025	3,791	17,473	21,264
Provided during the period	748	1,676	2,424

As at 5 April 2026	4,539	19,149	23,688

...CONTINUED

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GFSM LLP

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2026

Net Book Value
As at 5 April 2026	1,495	3,354	4,849

As at 6 April 2025	2,243	3,613	5,856

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	10,198	10,129
VAT	635	669

	10,833	10,798

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Accruals and deferred income	750	750

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