2023-08-012024-07-312024-07-31falseSC636975THE GBC BRIDGE 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THE GBC BRIDGE LIMITED

Registered Number
SC636975
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2024

THE GBC BRIDGE LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

Colin Reid Brown
Eileen Cameron
Rev Matthew David Marshall
Hamish Ross Sinclair
Sheila Davina Stevenson

Company Secretary

Colin Reid Brown

Registered Address

Glenrothes Baptist Church
Falkland Gate
Glenrothes
KY7 5NS

Registered Number

SC636975 (Scotland)
THE GBC BRIDGE LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets354,63255,567
54,63255,567
Current assets
Stocks3,3833,930
Debtors47,5654,847
Cash at bank and on hand31,20831,090
42,15639,867
Creditors amounts falling due within one year5(41,473)(39,869)
Net current assets (liabilities)683(2)
Total assets less current liabilities55,31555,565
Provisions for liabilities(10,380)(10,558)
Net assets44,93545,007
Capital and reserves
Called up share capital55
Profit and loss account44,93045,002
Shareholders' funds44,93545,007
The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2024, and are signed on its behalf by:
Hamish Ross Sinclair
Director
Registered Company No. SC636975
THE GBC BRIDGE LIMITED
Notes to the Financial Statements
for the year ended 31 July 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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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
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.
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:

Reducing balance (%)Straight line (years)
Fixtures and fittings15-
Office Equipment253
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year2018
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 236,06089,99596,055
Additions14,123-14,123
At 31 July 2420,18389,995110,178
Depreciation and impairment
At 01 August 232,92437,56440,488
Charge for year1,92813,13015,058
At 31 July 244,85250,69455,546
Net book value
At 31 July 2415,33139,30154,632
At 31 July 233,13652,43155,567
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,8754,209
Prepayments and accrued income690638
Total7,5654,847
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,8679,552
Taxation and social security20,21315,970
Other creditors7,87812,231
Accrued liabilities and deferred income1,5152,116
Total41,47339,869