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Unaudited Financial Statements for the Year Ended 31 July 2023

for

Guardian Moving & Storage Ltd.

Guardian Moving & Storage Ltd. (Registered number: SC282780)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Guardian Moving & Storage Ltd.

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R A Dawson
Mrs A M Dawson





REGISTERED OFFICE: Clifton View
East Mains Industrial Estate
Broxburn
West Lothian
EH52 5NE





REGISTERED NUMBER: SC282780 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Guardian Moving & Storage Ltd. (Registered number: SC282780)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 930,659 963,932
930,659 963,932

CURRENT ASSETS
Debtors 6 191,408 256,816
Cash at bank 28,752 192,461
220,160 449,277
CREDITORS
Amounts falling due within one year 7 82,908 119,835
NET CURRENT ASSETS 137,252 329,442
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,067,911

1,293,374

CREDITORS
Amounts falling due after more than one
year

8

(199,004

)

(407,741

)

PROVISIONS FOR LIABILITIES (35,780 ) (39,258 )
NET ASSETS 833,127 846,375

CAPITAL AND RESERVES
Called up share capital 10 194,117 208,823
Capital redemption reserve 139,215 124,509
Retained earnings 499,795 513,043
SHAREHOLDERS' FUNDS 833,127 846,375

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

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

Guardian Moving & Storage Ltd. (Registered number: SC282780)

Balance Sheet - continued
31 July 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 10 November 2023 and were signed on its behalf by:





Mrs A M Dawson - Director


Guardian Moving & Storage Ltd. (Registered number: SC282780)

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

1. STATUTORY INFORMATION

Guardian Moving & Storage 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.

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 fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business which is being amortised evenly over its estimated useful life of 10 years. In 2008 the company bought two customers out of their existing contracts and this being amortised over its estimated useful life of 5 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on reducing balance
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

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.

Guardian Moving & Storage Ltd. (Registered number: SC282780)

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

2. ACCOUNTING POLICIES - continued

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.

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 3 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 490,283
AMORTISATION
At 1 August 2022
and 31 July 2023 490,283
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 915,900 415,397 1,331,297
Additions - 37,500 37,500
At 31 July 2023 915,900 452,897 1,368,797
DEPRECIATION
At 1 August 2022 158,587 208,778 367,365
Charge for year 12,613 58,160 70,773
At 31 July 2023 171,200 266,938 438,138
NET BOOK VALUE
At 31 July 2023 744,700 185,959 930,659
At 31 July 2022 757,313 206,619 963,932

Guardian Moving & Storage Ltd. (Registered number: SC282780)

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

5. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 215,000
DEPRECIATION
At 1 August 2022 58,519
Charge for year 39,121
At 31 July 2023 97,640
NET BOOK VALUE
At 31 July 2023 117,360
At 31 July 2022 156,481

6. DEBTORS
31.7.23 31.7.22
£    £   
Amounts falling due within one year:
Trade debtors 2,908 4,816
Other debtors 61,500 61,500
64,408 66,316

Amounts falling due after more than one year:
Other debtors 127,000 190,500

Aggregate amounts 191,408 256,816

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 29,091 50,163
Hire purchase contracts 29,445 43,759
Trade creditors 36 -
Taxation and social security 20,743 8,521
Other creditors 3,593 17,392
82,908 119,835

Guardian Moving & Storage Ltd. (Registered number: SC282780)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 79,004 248,926
Hire purchase contracts 120,000 158,815
199,004 407,741

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 48,272

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 108,095 299,089
Hire purchase contracts 149,445 202,574
257,540 501,663

The bank loan is secured by a bond and floating charge over the whole of the property and undertakings, a bond and first ranking standard security over Plot 3, Clifton View, East Mains Industrial Estate, Broxburn and an assigned security of £165,000 from Mr & Mrs Dawson.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
75,000 Ordinary A £1 75,000 75,000
74,999 Ordinary B £1 74,999 74,999
44,118 Ordinary C £1 44,118 58,824
(31.7.22 -
58,824 )
194,117 208,823

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors in accordance with their respective shareholdings.
The director Mr D Maxwell is selling his shares back to the company over the next 4 years:

Total due to Mr D Maxwell £255,000
Paid 31/12/2021 (£105,000)
Paid 31/12/2022 (£ 37,500)
Due 31/12/2023 (£ 37,500)
Due 31/12/2024 (£ 37,500)
,Due 31/12/2025 £ 37,500)