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REGISTERED NUMBER: SC282020 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

G S G PROPERTY DEVELOPMENTS LIMITED

G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G S G PROPERTY DEVELOPMENTS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G Scott





SECRETARY: Mrs S Scott





REGISTERED OFFICE: 12 Westbank Holdings
Ravenstruther
Lanark
Lanarkshire
ML11 8NL





REGISTERED NUMBER: SC282020 (Scotland)





ACCOUNTANTS: Thomson Currie Accountancy Limited
Chartered Accountants
PO Box 9186
7 Pickering House
Netherton Road
Wishaw
ML2 0YP

G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,083 36,635

CURRENT ASSETS
Stocks 173,069 -
Debtors 82 100
Cash at bank 52,964 136,605
226,115 136,705
CREDITORS
Amounts falling due within one year 136,990 19,361
NET CURRENT ASSETS 89,125 117,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,208

153,979

CREDITORS
Amounts falling due after more than one
year

-

(4,247

)

PROVISIONS FOR LIABILITIES (2,547 ) (6,961 )
NET ASSETS 132,661 142,771

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 132,561 142,671
SHAREHOLDERS' FUNDS 132,661 142,771

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 director acknowledges his 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.

G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





G Scott - Director


G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)

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

1. STATUTORY INFORMATION

G S G PROPERTY DEVELOPMENTS LIMITED 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.

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 consideration received or receivable, excluding value added tax. Turnover from the sale of goods is recognised at the date of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 64,350
Additions 36,021
Disposals (28,128 )
At 31 March 2023 72,243
DEPRECIATION
At 1 April 2022 27,715
Charge for year 10,147
Eliminated on disposal (11,702 )
At 31 March 2023 26,160
NET BOOK VALUE
At 31 March 2023 46,083
At 31 March 2022 36,635

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022
and 31 March 2023 27,750
DEPRECIATION
At 1 April 2022 13,117
Charge for year 3,659
At 31 March 2023 16,776
NET BOOK VALUE
At 31 March 2023 10,974
At 31 March 2022 14,633

5. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 4,247 9,909

G S G PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: SC282020)

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

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Creditors falling due within one year includes a directors loan account. The loan account was not overdrawn during the year.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Scott.