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REGISTERED NUMBER: SC724919 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GOW HOLDINGS LTD

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)






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


GOW HOLDINGS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: A W Young





REGISTERED OFFICE: 9 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC724919 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

BALANCE SHEET
31 March 2024

31.3.23 31.3.24
£    £    Notes £    £   
FIXED ASSETS
6,246 Tangible assets 5 5,552
460,000 Investment property 6 885,180
466,246 890,732

CURRENT ASSETS
2,474 Debtors 7 4,042
23,472 Cash at bank 5,184
25,946 9,226
CREDITORS
344,931 Amounts falling due within one year 8 414,744
(318,985 ) NET CURRENT LIABILITIES (405,518 )
147,261 TOTAL ASSETS LESS CURRENT
LIABILITIES

485,214

CREDITORS
(142,745 ) Amounts falling due after more than one year 9 (142,745 )

(7,357 ) PROVISIONS FOR LIABILITIES 11 (14,371 )
(2,841 ) NET ASSETS/(LIABILITIES) 328,098

CAPITAL AND RESERVES
1,000 Called up share capital 12 1,000
31,365 Fair value reserve 13 376,284
(35,206 ) Retained earnings (49,186 )
(2,841 ) SHAREHOLDERS' FUNDS 328,098

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.

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2024 and were signed by:





A W Young - Director


GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gow Holdings 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Turnover is measured at the fair value of the consideration received or receivable.

Other operating income:
Rental income represents the total amount of rent due for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to Property - 10% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Revaluations are conducted annually by the director.


GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvemen
to
property
£   
COST
At 1 April 2023
and 31 March 2024 6,940
DEPRECIATION
At 1 April 2023 694
Charge for year 694
At 31 March 2024 1,388
NET BOOK VALUE
At 31 March 2024 5,552
At 31 March 2023 6,246

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 460,000
Additions 80,261
Revaluations 344,919
At 31 March 2024 885,180
NET BOOK VALUE
At 31 March 2024 885,180
At 31 March 2023 460,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 38,722
Valuation in 2024 344,919
Cost 501,539
885,180

Investment property was valued on a fair value basis by the director on 31st March 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 4,042 2,474

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 1,442 2,729
Other creditors 413,302 342,202
414,744 344,931

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 142,745 142,745

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 142,745 142,745

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 142,745 142,745

The Mortgage Works (UK) PLC holds standard securities over two of the investment properties.

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 14,371 7,357

Deferred
tax
£   
Balance at 1 April 2023 7,357
Provided during year 7,014
Fair value adjustments
Balance at 31 March 2024 14,371

GOW HOLDINGS LTD (REGISTERED NUMBER: SC724919)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

13. RESERVES
Fair
value
reserve
£   
At 1 April 2023 31,365
Fair value adjustment 344,919

At 31 March 2024 376,284

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £408,994 to the director (2023 £340,942). This loan has no fixed date for repayment and interest is charged at 3.5% per annum.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A W Young.

A W Young, director, controls the company as a result of indirectly holding 100% of the issued share capital.