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REGISTERED NUMBER: SC691629 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

GFCLO UK Limited

GFCLO UK Limited (Registered number: SC691629)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GFCLO UK Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms E J Cockburn
R G Lawson





REGISTERED OFFICE: 2 Belford Road
Edinburgh
EH4 3BL





REGISTERED NUMBER: SC691629 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

GFCLO UK Limited (Registered number: SC691629)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,369 3,323

CURRENT ASSETS
Stocks 19,250 33,029
Debtors 5 299 1,638
Cash at bank 25,601 16,733
45,150 51,400
CREDITORS
Amounts falling due within one year 6 47,387 31,724
NET CURRENT (LIABILITIES)/ASSETS (2,237 ) 19,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,132

22,999

PROVISIONS FOR LIABILITIES 1,342 831
NET ASSETS 1,790 22,168

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,788 22,166
1,790 22,168

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





R G Lawson - Director


GFCLO UK Limited (Registered number: SC691629)

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

1. STATUTORY INFORMATION

GFCLO UK Limited 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 each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipments - 20% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

GFCLO UK Limited (Registered number: SC691629)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipments Totals
£    £    £    £   
COST
At 1 April 2023 459 - 3,523 3,982
Additions - 2,595 443 3,038
At 31 March 2024 459 2,595 3,966 7,020
DEPRECIATION
At 1 April 2023 28 - 631 659
Charge for year 91 130 771 992
At 31 March 2024 119 130 1,402 1,651
NET BOOK VALUE
At 31 March 2024 340 2,465 2,564 5,369
At 31 March 2023 431 - 2,892 3,323

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 299 1,638

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,729 257
Trade creditors 540 248
Tax - 952
Social security and other taxes 656 1,010
VAT 1,376 4,041
Other creditors 8,866 -
Directors' current accounts 33,911 24,922
Accrued expenses 309 294
47,387 31,724

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £12,000 (2023 - £15,000) were paid to the directors .