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REGISTERED NUMBER: SC480029 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 June 2023

for

GCFraser Ltd

GCFraser Ltd (Registered number: SC480029)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GCFraser Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: G C Fraser





REGISTERED OFFICE: 65 Main Street
Davidson Mains
Edinburgh
Lothian
EH4 5AD





REGISTERED NUMBER: SC480029 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

GCFraser Ltd (Registered number: SC480029)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 197,500 237,000
Tangible assets 5 670,314 532,289
867,814 769,289

CURRENT ASSETS
Stocks 5,899 3,000
Debtors 6 34,336 47,276
Cash at bank 226,168 405,455
266,403 455,731
CREDITORS
Amounts falling due within one year 7 97,393 125,635
NET CURRENT ASSETS 169,010 330,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,824

1,099,385

CREDITORS
Amounts falling due after more than one
year

8

(736,185

)

(775,181

)

PROVISIONS FOR LIABILITIES (52,998 ) (5,483 )
NET ASSETS 247,641 318,721

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 247,640 318,720
SHAREHOLDERS' FUNDS 247,641 318,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GCFraser Ltd (Registered number: SC480029)

Balance Sheet - continued
30 June 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2024 and were signed by:





G C Fraser - Director


GCFraser Ltd (Registered number: SC480029)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

GCFraser 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 in 2018, is being amortised evenly over its estimated useful life of ten 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.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - Straight Line over 3 years

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 Profit and Loss, 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.

GCFraser Ltd (Registered number: SC480029)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 395,000
AMORTISATION
At 1 July 2022 158,000
Charge for year 39,500
At 30 June 2023 197,500
NET BOOK VALUE
At 30 June 2023 197,500
At 30 June 2022 237,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 499,001 79,070 13,524 4,722 596,317
Additions - 136,054 34,189 229 170,472
At 30 June 2023 499,001 215,124 47,713 4,951 766,789
DEPRECIATION
At 1 July 2022 29,940 26,139 5,781 2,168 64,028
Charge for year 9,980 19,505 1,814 1,148 32,447
At 30 June 2023 39,920 45,644 7,595 3,316 96,475
NET BOOK VALUE
At 30 June 2023 459,081 169,480 40,118 1,635 670,314
At 30 June 2022 469,061 52,931 7,743 2,554 532,289

GCFraser Ltd (Registered number: SC480029)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 33,990 45,252
Other debtors 346 2,024
34,336 47,276

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 37,236 47,986
Hire purchase contracts 8,760 8,760
Trade creditors 132 132
Taxation and social security 557 40,606
Other creditors 50,708 28,151
97,393 125,635

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 718,665 748,901
Hire purchase contracts 17,520 26,280
736,185 775,181

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
1 Ordinary £1 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company was due the director £24. There are no specific repayment terms and no interest has been charged.