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REGISTERED NUMBER: SC297276 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

GILLESPIE MACLENNAN & BALES LIMITED

GILLESPIE MACLENNAN & BALES LIMITED (REGISTERED NUMBER: SC297276)






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


GILLESPIE MACLENNAN & BALES LIMITED

COMPANY INFORMATION
For The Year Ended 31 July 2023







DIRECTORS: Gordon Richard Bales
John Michael MacLennan





SECRETARY: Gordon Richard Bales





REGISTERED OFFICE: The Tavern
High Street
FORT WILLIAM
Inverness-shire
PH33 6AY





REGISTERED NUMBER: SC297276 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

GILLESPIE MACLENNAN & BALES LIMITED (REGISTERED NUMBER: SC297276)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,886 41,402

CURRENT ASSETS
Stocks 7,120 13,150
Prepayments and accrued income 2,982 2,681
Cash at bank and in hand 46,629 35,965
56,731 51,796
CREDITORS
Amounts falling due within one year 5 46,521 34,519
NET CURRENT ASSETS 10,210 17,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,096

58,679

CREDITORS
Amounts falling due after more than one
year

6

7,700

12,213
NET ASSETS 41,396 46,466

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 40,396 45,466
SHAREHOLDERS' FUNDS 41,396 46,466

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.

GILLESPIE MACLENNAN & BALES LIMITED (REGISTERED NUMBER: SC297276)

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 16 November 2023 and were signed on its behalf by:





Gordon Richard Bales - Director


GILLESPIE MACLENNAN & BALES LIMITED (REGISTERED NUMBER: SC297276)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Gillespie Maclennan & Bales 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.

The company is being supported by its directors.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

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

GILLESPIE MACLENNAN & BALES LIMITED (REGISTERED NUMBER: SC297276)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 58,928 28,221 8,536 95,685
DEPRECIATION
At 1 August 2022 18,864 27,487 7,932 54,283
Charge for year 1,179 734 603 2,516
At 31 July 2023 20,043 28,221 8,535 56,799
NET BOOK VALUE
At 31 July 2023 38,885 - 1 38,886
At 31 July 2022 40,064 734 604 41,402

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,200 4,200
Trade creditors 1,713 207
Other creditors 40,608 30,112
46,521 34,519

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 7,700 12,213

7. ULTIMATE CONTROLLING PARTY

The company is controlled by the Directors.