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REGISTERED NUMBER: SC376373 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

GGMT Ltd

GGMT Ltd (Registered number: SC376373)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GGMT Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Dr G Bruce





REGISTERED OFFICE: 5 Forgan Drive
Drumoig
Fife
KY16 0BF





REGISTERED NUMBER: SC376373 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

GGMT Ltd (Registered number: SC376373)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 181,027 188,761
181,027 188,761

CURRENT ASSETS
Stocks 2,369 2,256
Debtors 6 43,383 39,399
Cash at bank and in hand 625,521 562,512
671,273 604,167
CREDITORS
Amounts falling due within one year 7 257,589 222,250
NET CURRENT ASSETS 413,684 381,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,711

570,678

PROVISIONS FOR LIABILITIES 8 5,574 6,650
NET ASSETS 589,137 564,028

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 589,037 563,928
SHAREHOLDERS' FUNDS 589,137 564,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GGMT Ltd (Registered number: SC376373)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





Dr G Bruce - Director


GGMT Ltd (Registered number: SC376373)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

GGMT Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GGMT Ltd (Registered number: SC376373)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 400,000
AMORTISATION
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 173,219 80,218 33,200 8,762 295,399
DEPRECIATION
At 1 April 2023 12,068 58,335 29,127 7,108 106,638
Charge for year 2,417 3,283 611 1,423 7,734
At 31 March 2024 14,485 61,618 29,738 8,531 114,372
NET BOOK VALUE
At 31 March 2024 158,734 18,600 3,462 231 181,027
At 31 March 2023 161,151 21,883 4,073 1,654 188,761

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 41,772 37,788
Prepayments 1,611 1,611
43,383 39,399

GGMT Ltd (Registered number: SC376373)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 15,264 13,768
Tax 47,069 36,987
Social security and other taxes 3,520 3,222
Pension cost 720 683
Loan - Matthew Bruce 49,575 49,575
Directors' current accounts 139,061 116,584
Accrued expenses 2,380 1,431
257,589 222,250

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 5,574 6,650

Deferred
tax
£   
Balance at 1 April 2023 6,650
Credit to Income Statement during year (1,076 )
Balance at 31 March 2024 5,574

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
51 A Ordinary £1 51 51
39 B Ordinary £1 39 39
5 C Ordinary £1 5 5
5 D Ordinary £1 5 5
100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company was due the directors £139,061 (2023 - £116,584). There are no specific repayment terms and no interest has been charged