IRIS Accounts Production v23.2.0.158 SC534441 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC5344412022-03-31SC5344412023-03-31SC5344412022-04-012023-03-31SC5344412021-03-31SC5344412021-04-012022-03-31SC5344412022-03-31SC534441ns16:Scotland2022-04-012023-03-31SC534441ns15:PoundSterling2022-04-012023-03-31SC534441ns11:Director12022-04-012023-03-31SC534441ns11:Director22022-04-012023-03-31SC534441ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC534441ns11:SmallEntities2022-04-012023-03-31SC534441ns11:AuditExemptWithAccountantsReport2022-04-012023-03-31SC534441ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC534441ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC534441ns11:FullAccounts2022-04-012023-03-31SC53444112022-04-012023-03-31SC534441ns11:Director32022-04-012023-03-31SC534441ns11:RegisteredOffice2022-04-012023-03-31SC534441ns6:CurrentFinancialInstruments2023-03-31SC534441ns6:CurrentFinancialInstruments2022-03-31SC534441ns6:Non-currentFinancialInstruments2023-03-31SC534441ns6:Non-currentFinancialInstruments2022-03-31SC534441ns6:ShareCapital2023-03-31SC534441ns6:ShareCapital2022-03-31SC534441ns6:RetainedEarningsAccumulatedLosses2023-03-31SC534441ns6:RetainedEarningsAccumulatedLosses2022-03-31SC534441ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC534441ns6:ComputerSoftware2022-04-012023-03-31SC534441ns6:IntangibleAssetsOtherThanGoodwill2022-03-31SC534441ns6:IntangibleAssetsOtherThanGoodwill2023-03-31SC534441ns6:IntangibleAssetsOtherThanGoodwill2022-03-31SC534441ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31SC534441ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31SC534441ns6:Secured2023-03-31SC534441ns6:Secured2022-03-31
REGISTERED NUMBER: SC534441 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

GMACK Construction and Developments Ltd

GMACK Construction and Developments Ltd (Registered number: SC534441)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

GMACK Construction and Developments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C Greer
J W McKerrow
G Jordan





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





BUSINESS ADDRESS: 36 Vallantine Crescent
Uddingston
Glasgow
G71 6TR





REGISTERED NUMBER: SC534441 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

GMACK Construction and Developments Ltd (Registered number: SC534441)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 6 62,817 188,104
Cash at bank 394,039 245,427
456,856 433,531
CREDITORS
Amounts falling due within one year 7 304,399 249,914
NET CURRENT ASSETS 152,457 183,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,457

183,617

CREDITORS
Amounts falling due after more than one
year

8

22,430

32,451
NET ASSETS 130,027 151,166

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 129,927 151,066
SHAREHOLDERS' FUNDS 130,027 151,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

GMACK Construction and Developments Ltd (Registered number: SC534441)

Balance Sheet - continued
31 March 2023


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 6 October 2023 and were signed on its behalf by:




C Greer - Director



J W McKerrow - Director


GMACK Construction and Developments Ltd (Registered number: SC534441)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

GMACK Construction and Developments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from construction and development services supplied by the company.

Turnover is measured at the fair value of the construction and development services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Government grants
Grants considered to be revenue in nature are credited to the profit and loss account in the period to which they relate. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate.

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.

GMACK Construction and Developments Ltd (Registered number: SC534441)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 6,000
AMORTISATION
At 1 April 2022
and 31 March 2023 6,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,025 182,402
Other debtors 5,792 5,702
62,817 188,104

GMACK Construction and Developments Ltd (Registered number: SC534441)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,070 10,049
Trade creditors 13,880 48,699
Taxation and social security 92,016 138,225
Other creditors 188,433 52,941
304,399 249,914

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,430 32,451

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 32,500 42,500

The bank loan is supported by a 100% guarantee from the UK Government.

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors C Greer, J McKerrow and G Jordan.

During the year, the director advanced loans totalling £16,554 to the company. At the year end, the balance due to the directors was £19,855 (2022 - £3,301). There are no fixed repayment terms and no interest charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
GMACK Construction and Developments Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GMACK Construction and Developments Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of GMACK Construction and Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GMACK Construction and Developments Ltd and state those matters that we have agreed to state to the Board of Directors of GMACK Construction and Developments Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GMACK Construction and Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GMACK Construction and Developments Ltd. You consider that GMACK Construction and Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GMACK Construction and Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


6 October 2023