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Company registration number:
SC664828
GS Property Services Scotland Limited
Unaudited filleted financial statements
30 June 2024
GS Property Services Scotland Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
GS Property Services Scotland Limited
Directors and other information
|
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Director |
Gavin MacDonald |
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Company number |
SC664828 |
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Registered office |
16-18 Weir Street |
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Falkirk |
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FK1 1RA |
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Business address |
Viewforth, High Road |
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Maddiston |
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Falkirk |
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FK2 0BL |
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Accountants |
Barrie Scott & Co. |
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16-18 Weir Street |
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Falkirk |
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FK1 1RA |
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GS Property Services Scotland Limited
Report to the director on the preparation of the
unaudited statutory financial statements of GS Property Services Scotland Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GS Property Services Scotland Limited for the year ended 30 June 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the director of GS Property Services Scotland Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of GS Property Services Scotland Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GS Property Services Scotland Limited and its director as a body for our work or for this report.
It is your duty to ensure that GS Property Services Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GS Property Services Scotland Limited. You consider that GS Property Services Scotland Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of GS Property Services Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barrie Scott & Co.
Accountants & Tax Advisers
16-18 Weir Street
Falkirk
FK1 1RA
11 September 2024
GS Property Services Scotland Limited
Statement of financial position
30 June 2024
|
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2024 |
|
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|
2023 |
|
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|
Note |
£ |
|
£ |
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£ |
|
£ |
|
|
|
|
|
|
|
|
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|
Fixed assets |
|
|
|
|
|
|
|
|
|
Investments |
|
4 |
232,010 |
|
|
|
232,010 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
232,010 |
|
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|
232,010 |
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|
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Current assets |
|
|
|
|
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|
|
|
|
Debtors |
|
5 |
990 |
|
|
|
- |
|
|
Cash at bank and in hand |
|
|
17,995 |
|
|
|
14,805 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
18,985 |
|
|
|
14,805 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
75,084) |
|
|
|
(
72,764) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
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|
(
56,099) |
|
|
|
(
57,959) |
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|
|
|
|
_______ |
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|
|
_______ |
Total assets less current liabilities |
|
|
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|
175,911 |
|
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|
174,051 |
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|
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Creditors: amounts falling due |
|
|
|
|
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after more than one year |
|
7 |
|
|
(
158,314) |
|
|
|
(
161,270) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
17,597 |
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|
|
12,781 |
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|
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|
_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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|
1 |
Profit and loss account |
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|
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|
17,596 |
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12,780 |
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|
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|
_______ |
|
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_______ |
Shareholder funds |
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|
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17,597 |
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12,781 |
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|
_______ |
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_______ |
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 August 2024
, and are signed on behalf of the board by:
Gavin MacDonald
Director
Company registration number:
SC664828
GS Property Services Scotland Limited
Statement of changes in equity
Year ended 30 June 2024
|
|
Called up share capital |
|
Profit and loss account |
Total |
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£ |
|
£ |
£ |
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|
|
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|
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At 1 July 2022 |
|
1 |
|
5,439 |
5,440 |
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|
|
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|
|
|
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|
Profit for the year |
|
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|
7,341 |
7,341 |
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|
|
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|
_______ |
|
_______ |
_______ |
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Total comprehensive income for the year |
|
- |
|
7,341 |
7,341 |
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|
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_______ |
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_______ |
_______ |
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At 30 June 2023 and 1 July 2023 |
|
1 |
|
12,779
|
12,780
|
|
|
|
|
|
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|
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Profit for the year |
|
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|
4,817 |
4,817 |
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|
|
|
|
|
|
_______ |
|
_______ |
_______ |
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Total comprehensive income for the year |
|
- |
|
4,817 |
4,817 |
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|
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_______ |
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_______ |
_______ |
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At 30 June 2024 |
|
1 |
|
17,596 |
17,597 |
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|
|
|
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_______ |
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_______ |
_______ |
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GS Property Services Scotland Limited
Notes to the financial statements
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 16-18 Weir Street, Falkirk, FK1 1RA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
These accounts are prepared on a Going Concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received for rental income net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Investments
|
|
Other investments other than loans |
Total |
|
|
|
|
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|
£ |
£ |
|
|
|
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Cost |
|
|
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At 1 July 2023 and 30 June 2024 |
232,010 |
232,010 |
|
|
|
|
|
|
_______ |
_______ |
|
|
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Impairment |
|
|
|
|
|
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At 1 July 2023 and 30 June 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 June 2024 |
232,010 |
232,010 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 June 2023 |
232,010 |
232,010 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
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5.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
990 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
2,956 |
2,858 |
|
Corporation tax |
|
1,129 |
1,722 |
|
Other creditors |
|
70,999 |
68,184 |
|
|
|
_______ |
_______ |
|
|
|
75,084 |
72,764 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
158,314 |
161,270 |
|
|
|
_______ |
_______ |
|
|
|
|
|