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REGISTERED NUMBER: SC220143 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Gilmour Tools (Holdings) Limited

Gilmour Tools (Holdings) Limited (Registered number: SC220143)






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


Gilmour Tools (Holdings) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G Gilmour
Mrs L M Gilmour





SECRETARY: Mrs L M Gilmour





REGISTERED OFFICE: Baird Avenue
Strutherhill Industrial Estate
Larkhall
ML9 2PJ





REGISTERED NUMBER: SC220143 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

Gilmour Tools (Holdings) Limited (Registered number: SC220143)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 466,572 549,315

CURRENT ASSETS
Stocks 24,194 15,411
Debtors 5 229,306 180,021
Cash at bank 58,201 17,948
311,701 213,380
CREDITORS
Amounts falling due within one year 6 89,839 301,392
NET CURRENT ASSETS/(LIABILITIES) 221,862 (88,012 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

688,434

461,303

CREDITORS
Amounts falling due after more than one year 7 (90,000 ) (182,999 )

PROVISIONS FOR LIABILITIES (79,184 ) (92,828 )
NET ASSETS 519,250 185,476

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 518,250 184,476
519,250 185,476

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.

Gilmour Tools (Holdings) Limited (Registered number: SC220143)

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 Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





G Gilmour - Director


Gilmour Tools (Holdings) Limited (Registered number: SC220143)

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

1. STATUTORY INFORMATION

Gilmour Tools (Holdings) 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.
Freehold property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 12 ) .

Gilmour Tools (Holdings) Limited (Registered number: SC220143)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 107,358 824,040 244,830 16,740 1,192,968
DEPRECIATION
At 1 April 2023 107,358 476,831 46,193 13,271 643,653
Charge for year - 52,081 29,795 867 82,743
At 31 March 2024 107,358 528,912 75,988 14,138 726,396
NET BOOK VALUE
At 31 March 2024 - 295,128 168,842 2,602 466,572
At 31 March 2023 - 347,209 198,637 3,469 549,315

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 229,306 174,276
Directors' current accounts - 5,745
229,306 180,021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 10,000
Hire purchase contracts - 71,496
Trade creditors 4,162 8,304
Tax 64,420 -
Social security and other taxes 5,349 4,596
VAT 6,782 4,124
Other creditors 284 -
Directors' current accounts 148 -
Accrued expenses 8,694 202,872
89,839 301,392

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years - 27,500
Bank loans more 5 yr by instal 90,000 145,000
Hire purchase contracts - 10,499
90,000 182,999

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 90,000 145,000