Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01truefalseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC350200 2022-11-01 2023-10-31 SC350200 2021-11-01 2022-10-31 SC350200 2023-10-31 SC350200 2022-10-31 SC350200 c:CompanySecretary1 2022-11-01 2023-10-31 SC350200 c:Director1 2022-11-01 2023-10-31 SC350200 c:Director2 2022-11-01 2023-10-31 SC350200 c:RegisteredOffice 2022-11-01 2023-10-31 SC350200 d:CurrentFinancialInstruments 2023-10-31 SC350200 d:CurrentFinancialInstruments 2022-10-31 SC350200 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC350200 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 SC350200 d:ShareCapital 2023-10-31 SC350200 d:ShareCapital 2022-10-31 SC350200 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC350200 d:RetainedEarningsAccumulatedLosses 2022-10-31 SC350200 c:OrdinaryShareClass1 2022-11-01 2023-10-31 SC350200 c:OrdinaryShareClass1 2023-10-31 SC350200 c:OrdinaryShareClass1 2022-10-31 SC350200 c:FRS102 2022-11-01 2023-10-31 SC350200 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC350200 c:FullAccounts 2022-11-01 2023-10-31 SC350200 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC350200










GBMS SCOTLAND LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 
GBMS SCOTLAND LIMITED
 

COMPANY INFORMATION


Directors
Mrs K Brindle 
Mr I G Brindle 




Company secretary
Mr I G Brindle



Registered number
SC350200



Registered office
The Cottage
6 The Pleasance

Halbeath

Dunfermline

Fife

KY12 0TT




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
GBMS SCOTLAND LIMITED
REGISTERED NUMBER:SC350200

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
£
£

  

Current assets
  

Stocks
  
10,963
8,935

Debtors: amounts falling due within one year
 4 
445
727

Cash at bank and in hand
  
2,983
2,482

  
14,391
12,144

Creditors: amounts falling due within one year
 5 
(10,138)
(8,755)

Net current assets
  
 
 
4,253
 
 
3,389

Total assets less current liabilities
  
4,253
3,389

  

Net assets
  
4,253
3,389


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
4,153
3,289

  
4,253
3,389


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.




Mr I G Brindle
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
GBMS SCOTLAND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1.


General information

The Company is limited by shares and incorporated in Scotland; Registration Number SC350200. The registered office address is The Cottage 6 The Pleasance, Halbeath, Dunfermline, Fife, KY12 0TT.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
GBMS SCOTLAND LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 3

 
GBMS SCOTLAND LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
-
79

Deferred taxation
445
648

445
727



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,936
348

Other taxation and social security
395
475

Other creditors
6,484
6,672

Accruals and deferred income
1,323
1,260

10,138
8,755



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 4