REGISTERED NUMBER: |
GARSON INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
REGISTERED NUMBER: |
GARSON INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
Page |
Company Information | 1 |
Chartered Certified Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
GARSON INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
4 Royal Crescent |
Glasgow |
G3 7SL |
BANKERS: |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
GARSON INVESTMENTS LIMITED |
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 Garson Investments Limited for the year ended 30th April 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of Garson Investments Limited, 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 Garson Investments Limited and state those matters that we have agreed to state to the Board of Directors of Garson Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 Garson Investments Limited 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 Garson Investments Limited. You consider that Garson Investments Limited 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 Garson Investments Limited. 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. |
Chartered Certified Accountants |
4 Royal Crescent |
Glasgow |
G3 7SL |
Date: ............................................. |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
BALANCE SHEET |
30TH APRIL 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
BALANCE SHEET - continued |
30TH APRIL 2023 |
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 |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
1. | STATUTORY INFORMATION |
Garson Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the company's ability to trade as a going concern. |
Turnover |
The turnover shown in the profit and loss account represents royalty income receivable for the year. |
Intangible fixed assets - royalty rights |
Royalty rights are not amortised as it is considered that their useful lives are not limited. Their carrying values are reviewed annually by the directors to determine whether there has been any permanent impairment in value and any such reductions in their values are taken to the profit and loss account. |
This is a departure from the requirements of the Companies Act 2006 which requires royalty rights to be amortised. The directors consider that to amortise them would not give a true and fair view. Amortisation is only one of many factors reflected in the valuation of royalty rights and accordingly the amount of amortisation which might otherwise have been charged cannot be separately identified or quantified. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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. |
Royalties receivable and payable |
Royalty income is credited to the profit and loss account on a receivable basis. Royalties payable are charged against the relevant income of the same period. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2023 |
4. | INTANGIBLE FIXED ASSETS |
Royalty |
rights |
£ |
COST |
At 1st May 2022 |
and 30th April 2023 |
NET BOOK VALUE |
At 30th April 2023 |
At 30th April 2022 |
Following an impairment review of the carrying value of royalty rights the directors have taken the view that there has been no significant reduction in the recoverable amount of this asset. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.23 | 30.4.22 |
value: | £ | £ |
Ordinary | £1 | 80 | 80 |
A Ordinary | £1 | 10 | 10 |
B Ordinary | £1 | 10 | 10 |
100 | 100 |
GARSON INVESTMENTS LIMITED (REGISTERED NUMBER: SC267339) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2023 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1st May 2022 |
Profit for the year |
Dividends | ( |
) |
At 30th April 2023 |
10. | RELATED PARTY DISCLOSURES |
B.G.S Productions Limited |
W B Garden and D B Stevenson are directors and shareholders of B.G.S Productions Limited. |
Included in debtors is £128,837 (2022: £118,837) owed by B.G.S Productions Limited to the company. |
W B Garden |
Included in creditors is £154,635 (2022: £154,635) owed to W B Garden, director and shareholder of the company. The amount bears no interest and is not repayable within 12 months. |
11. | ULTIMATE CONTROLLING PARTY |
The company was under the control of William B. Garden throughout the current and previous year. |