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REGISTERED NUMBER: SC429149 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Gmb Portfolio Services Ltd.

Gmb Portfolio Services Ltd. (Registered number: SC429149)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gmb Portfolio Services Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M Blackley
B A Hemmings





REGISTERED OFFICE: Hudson House 8
Albany Street
Edinburgh
EH1 3QB





REGISTERED NUMBER: SC429149 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Gmb Portfolio Services Ltd. (Registered number: SC429149)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 37,500
Tangible assets 5 25,497 31,122
25,497 68,622

CURRENT ASSETS
Stocks 223,500 -
Debtors 6 7,005 3,912
Prepayments and accrued income 757 2,627
Cash at bank 606,222 633,856
837,484 640,395
CREDITORS
Amounts falling due within one year 7 315,539 274,628
NET CURRENT ASSETS 521,945 365,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

547,442

434,389

PROVISIONS FOR LIABILITIES - 2,401
NET ASSETS 547,442 431,988

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 547,436 431,982
547,442 431,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Gmb Portfolio Services Ltd. (Registered number: SC429149)

Balance Sheet - continued
30 June 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 31 October 2024 and were signed on its behalf by:





M Blackley - Director


Gmb Portfolio Services Ltd. (Registered number: SC429149)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Gmb Portfolio Services 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


Gmb Portfolio Services Ltd. (Registered number: SC429149)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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 8 (2023 - 7 ) .

Gmb Portfolio Services Ltd. (Registered number: SC429149)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 150,000
AMORTISATION
At 1 July 2023 112,500
Charge for year 37,500
At 30 June 2024 150,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 37,500

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 61,716
DEPRECIATION
At 1 July 2023 30,594
Charge for year 5,625
At 30 June 2024 36,219
NET BOOK VALUE
At 30 June 2024 25,497
At 30 June 2023 31,122

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 3,912 3,912
Deferred tax asset 3,093 -
7,005 3,912

Gmb Portfolio Services Ltd. (Registered number: SC429149)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Tax 49,627 43,468
Social security and other taxes 4,195 10,583
Other creditors 35,607 -
Pensions 741 1,714
Other creditors - 1,041
Directors' current accounts 222,812 215,303
Accrued expenses 2,557 2,519
315,539 274,628