Registration number:
GMR Scotland Limited
for the Year Ended 31 January 2024
GMR Scotland Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
GMR Scotland Limited
Company Information
Director |
G A M Rose |
Registered office |
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Accountants |
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GMR Scotland Limited
(Registration number: SC652835)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10 |
10 |
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Retained earnings |
263,001 |
214,645 |
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Shareholders' funds |
263,011 |
214,655 |
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The director acknowledges his responsibilities for |
GMR Scotland Limited
(Registration number: SC652835)
Balance Sheet as at 31 January 2024 (continued)
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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GMR Scotland Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The exemptions under section 1A regarding cashflow statement and under s414B of the Companies Act regarding the strategic report have been taken this year.
The accounts have been prepared on a going concern basis.
Group accounts not prepared
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
GMR Scotland Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
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Accounting policies (continued) |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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GMR Scotland Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
4 |
Investments (continued) |
Subsidiaries |
£ |
Cost or valuation |
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At 1 February 2023 |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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The company acquired the whole of the share capital of WFF Ayrshire Limited on 25 September 2020.
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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4 Simpson Place
Scotland |
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Subsidiary undertakings |
WFF Ayrshire Limited The principal activity of WFF Ayrshire Limited is |
GMR Scotland Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Bank borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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GMR Scotland Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
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Loans and borrowings (continued) |
Bank borrowings comprise a loan from HSBC. The loan is secured by a floating charge over the assets of the company and its subsidiary, WFF Ayrshire Limited. The loan bears interest at 4.5% over the bank's base rate (currently 5.25% per annum) and is repayable by instalments ending in September 2026.
Parent and ultimate parent undertaking |
The ultimate controlling party is