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REGISTERED NUMBER: SC440948 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Glasgow Colorectal Ltd

Glasgow Colorectal Ltd (Registered number: SC440948)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glasgow Colorectal Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr Andrew Renwick
Mrs Jill Renwick
Robbie Renwick
Miss Grace Renwick





REGISTERED OFFICE: 111 Balshagray Avenue
Glasgow
G11 7EG





REGISTERED NUMBER: SC440948 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Glasgow Colorectal Ltd (Registered number: SC440948)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,707 45,212

CURRENT ASSETS
Debtors 5 12,997 12,132
Cash at bank 112,205 82,763
125,202 94,895
CREDITORS
Amounts falling due within one year 6 62,982 57,498
NET CURRENT ASSETS 62,220 37,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,927

82,609

PROVISIONS FOR LIABILITIES 7 8,427 11,303
NET ASSETS 87,500 71,306

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 87,400 71,206
SHAREHOLDERS' FUNDS 87,500 71,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Glasgow Colorectal Ltd (Registered number: SC440948)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





Mrs Jill Renwick - Director


Glasgow Colorectal Ltd (Registered number: SC440948)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Glasgow Colorectal 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 15% on reducing balance
Computer equipment - 33.33% on cost

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Glasgow Colorectal Ltd (Registered number: SC440948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 3,682 52,675 7,237 63,594
DEPRECIATION
At 1 April 2023 2,067 10,535 5,780 18,382
Charge for year 242 10,535 728 11,505
At 31 March 2024 2,309 21,070 6,508 29,887
NET BOOK VALUE
At 31 March 2024 1,373 31,605 729 33,707
At 31 March 2023 1,615 42,140 1,457 45,212

Glasgow Colorectal Ltd (Registered number: SC440948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,997 12,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 21,756 10,454
Other creditors 41,226 47,044
62,982 57,498

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,427 11,303

Deferred
tax
£   
Balance at 1 April 2023 11,303
Provided during year (2,876 )
Balance at 31 March 2024 8,427

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Jill Renwick.