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REGISTERED NUMBER: SC593975 (Scotland)















Financial Statements For The Year Ended 31 March 2024

for

Go Explore (Scotland) Limited

Go Explore (Scotland) Limited (Registered number: SC593975)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Go Explore (Scotland) Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: W A Timmins





REGISTERED OFFICE: 253 Blairtummock Road
Glasgow
G33 4ED





REGISTERED NUMBER: SC593975 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Go Explore (Scotland) Limited (Registered number: SC593975)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 134,713 152,099
Tangible assets 5 2,214,794 1,948,431
Investments 6 2 2
2,349,509 2,100,532

CURRENT ASSETS
Stocks 36,024 -
Debtors 7 105,990 95,085
Cash at bank and in hand 160,977 68,671
302,991 163,756
CREDITORS
Amounts falling due within one year 8 698,174 581,716
NET CURRENT LIABILITIES (395,183 ) (417,960 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,954,326

1,682,572

CREDITORS
Amounts falling due after more than one
year

9

(1,407,081

)

(1,301,496

)

PROVISIONS FOR LIABILITIES (69,266 ) (39,015 )
NET ASSETS 477,979 342,061

CAPITAL AND RESERVES
Called up share capital 100,050 100,050
Revaluation reserve 164,625 19,585
Retained earnings 213,304 222,426
477,979 342,061

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.

Go Explore (Scotland) Limited (Registered number: SC593975)

Statement of Financial Position - 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 15 November 2024 and were signed by:





W A Timmins - Director


Go Explore (Scotland) Limited (Registered number: SC593975)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Go Explore (Scotland) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed plant and equipment - 20% on cost
Fixtures and fittings - 50% on cost and 20% on cost

Due to unique nature of the motor vehicles they are revalued each year rather than being depreciated at any set rate.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


Go Explore (Scotland) Limited (Registered number: SC593975)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.Dividends payable on equity instruments are recognised as liabilities once they are no longer at the
discretion of the company.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

Go Explore (Scotland) Limited (Registered number: SC593975)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 173,636
AMORTISATION
At 1 April 2023 21,537
Charge for year 17,386
At 31 March 2024 38,923
NET BOOK VALUE
At 31 March 2024 134,713
At 31 March 2023 152,099

5. TANGIBLE FIXED ASSETS
Fixed Fixtures
plant and and Motor
equipment fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 44,670 8,962 1,989,778 2,043,410
Additions 3,176 1,267 273,578 278,021
Disposals - - (190,225 ) (190,225 )
Revaluations - - 118,822 118,822
Reclassification/transfer 8,848 - (8,848 ) -
At 31 March 2024 56,694 10,229 2,183,105 2,250,028
DEPRECIATION
At 1 April 2023 15,939 6,989 72,051 94,979
Charge for year 9,598 1,733 - 11,331
Eliminated on disposal - - (33,180 ) (33,180 )
Revaluation adjustments - - (37,896 ) (37,896 )
Reclassification/transfer 975 - (975 ) -
At 31 March 2024 26,512 8,722 - 35,234
NET BOOK VALUE
At 31 March 2024 30,182 1,507 2,183,105 2,214,794
At 31 March 2023 28,731 1,973 1,917,727 1,948,431

Go Explore (Scotland) Limited (Registered number: SC593975)

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

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixed Fixtures
plant and and Motor
equipment fittings vehicles Totals
£    £    £    £   
Valuation in 2024 - - 118,822 118,822
Cost 56,694 10,229 2,064,283 2,131,206
56,694 10,229 2,183,105 2,250,028

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,789 -
Other debtors - 2,581
Tax 2,036 2,037
VAT 4,760 40,509
Prepayments and accrued income 85,405 49,958
105,990 95,085

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 121,778 121,778
Hire purchase contracts 283,441 281,142
Trade creditors 12,700 11,015
Tax - 12,139
Social security and other taxes 9,486 2,079
Other creditors 170,776 136,570
Directors' current accounts 94,993 11,993
Accrued expenses 5,000 5,000
698,174 581,716

Go Explore (Scotland) Limited (Registered number: SC593975)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Within the other creditors balance is £133,404 (2023: £94,896) relating to customer deposits for future bookings/rentals.

Also included within other creditors is a balance of £470 due from a group undertaking (2023: £470) and £37,844 due to a company with common shareholders (2023: £41,726).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years 62,295 86,237
Hire purchase contracts 1,344,786 1,215,259
1,407,081 1,301,496

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,628,227 1,496,401