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COMPANY REGISTRATION NUMBER: SC308025
GMLJ Consulting Limited
Filleted Unaudited Financial Statements
30 September 2023
GMLJ Consulting Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
65,750
51,993
Current assets
Debtors
6
27,536
Cash at bank and in hand
32,710
56,721
------------
------------
60,246
56,721
Creditors: amounts falling due within one year
7
( 9,733)
( 23,568)
------------
------------
Net current assets
50,513
33,153
------------
------------
Total assets less current liabilities
116,263
85,146
------------
------------
Net assets
116,263
85,146
------------
------------
GMLJ Consulting Limited
Statement of Financial Position (continued)
30 September 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
116,261
85,144
------------
------------
Shareholders funds
116,263
85,146
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 February 2024 , and are signed on behalf of the board by:
Mr G Jones
Mrs C Jones
Director
Director
Company registration number: SC308025
GMLJ Consulting Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Old Manse, Errogie, Inverness, IV2 6UH, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 October 2022
48,400
9,529
57,929
Additions
11,425
3,377
14,802
------------
------------
------------
At 30 September 2023
59,825
12,906
72,731
------------
------------
------------
Depreciation
At 1 October 2022
5,936
5,936
Charge for the year
1,045
1,045
------------
------------
------------
At 30 September 2023
6,981
6,981
------------
------------
------------
Carrying amount
At 30 September 2023
59,825
5,925
65,750
------------
------------
------------
At 30 September 2022
48,400
3,593
51,993
------------
------------
------------
6. Debtors
2023
2022
£
£
Other debtors
27,536
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
9,005
3,499
Other creditors
728
20,069
------------
------------
9,733
23,568
------------
------------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Jones
( 19,401)
13,768
19,401
13,768
Mrs C Jones
13,768
13,768
------------
------------
------------
------------
( 19,401)
27,536
19,401
27,536
------------
------------
------------
------------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Jones
( 15,486)
( 3,915)
( 19,401)
Mrs C Jones
------------
------------
------------
------------
( 15,486)
( 3,915)
( 19,401)
------------
------------
------------
------------