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GIBSON TRAINING AND CARE LIMITED

Registered Number
SC331626
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

GIBSON TRAINING AND CARE LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

Mrs D M M Morrison
Reverend G Beebee
Councillor J A Liston

Registered Address

Units 12 & 14, Fife Renewable & Innovation Centre Ajax Way
Methil
Leven
KY8 3RS

Registered Number

SC331626 (Scotland)
GIBSON TRAINING AND CARE LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,7421,524
1,7421,524
Current assets
Debtors4121,89650,324
Cash at bank and on hand45,78657,364
167,682107,688
Creditors amounts falling due within one year5(201,518)(152,175)
Net current assets (liabilities)(33,836)(44,487)
Total assets less current liabilities(32,094)(42,963)
Creditors amounts falling due after one year6-(26,363)
Provisions for liabilities(331)-
Net assets(32,425)(69,326)
Capital and reserves
Called up share capital11
Profit and loss account(32,426)(69,327)
Shareholders' funds(32,425)(69,326)
The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2024, and are signed on its behalf by:
Mrs D M M Morrison
Director
Registered Company No. SC331626
GIBSON TRAINING AND CARE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors believe that the financial statements should be prepared on a going concern basis as they understand that continued support will be provided by the parent charity and the company continues to assess performance against budget. In view of this the directors consider that it remains appropriate to prepare the financial statements on a going concern basis.
Turnover policy
Turnover represents amounts receivable for services net of vat. Income is earned under a wide variety of contracts and revenue is recognised as earned on provision of the service. Unpaid amounts for services provided are included in debtors. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery10
Office Equipment3
Finance leases and hire purchase contracts
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2.Average number of employees

20242023
Average number of employees during the year4751
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 231,7515,5717,322
Additions-999999
At 31 January 241,7516,5708,321
Depreciation and impairment
At 01 February 231,5204,2785,798
Charge for year28753781
At 31 January 241,5485,0316,579
Net book value
At 31 January 242031,5391,742
At 31 January 232311,2931,524
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables118,42342,925
Other debtors-2,639
Prepayments and accrued income3,4734,760
Total121,89650,324
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,9775,010
Taxation and social security12,85012,316
Other creditors26,78760,131
Accrued liabilities and deferred income156,90474,718
Total201,518152,175
6.Creditors: amounts due after one year

2024

2023

££
Other creditors-26,363
Total-26,363
7.Capital commitments
Minimum lease payments under non-cancellable operating leases fall within one year £2,044 (2023: £1,533) and between one and five years £3,577 (2023: £5,621).
8.Related party transactions
Gibson Training and Care Limited is a wholly owned subsidiary of The Gibson House St Andrews SCIO (Charity no SC050299), a charitable trust recognised in Scotland. In the year to 31 January 2024 Gibson Training and Care Limited made loan repayments to The Gibson House St Andrews SCIO amounting to £60,000 (2023 - £60,000) which includes loan interest of £250 (2023 - £250). As at 31 January 2024 the balance due to The Gibson House St Andrews SCIO in the form of loans is £26,613 (2023- £86,363) and is included within creditors due in less than and greater than one year in these financial statements.