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REGISTERED NUMBER: SC259583 (Scotland)















Unaudited Financial Statements

for the Period

1 December 2022 to 30 April 2024

for

Govan Digital Media Centre Limited

Govan Digital Media Centre Limited (Registered number: SC259583)






Contents of the Financial Statements
for the Period 1 December 2022 to 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Govan Digital Media Centre Limited

Company Information
for the Period 1 December 2022 to 30 April 2024







DIRECTOR: I R Bruce





REGISTERED OFFICE: 100 Brand Street
Glasgow
G51 1DG





REGISTERED NUMBER: SC259583 (Scotland)





ACCOUNTANTS: MacMillan Craig
Chartered Accountants
100 Brand Street
Glasgow
G51 1DG

Govan Digital Media Centre Limited (Registered number: SC259583)

Balance Sheet
30 April 2024

30.4.24 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,125 152,250

CURRENT ASSETS
Debtors 5 42,420 81,186
Cash at bank 2,791 9,462
45,211 90,648
CREDITORS
Amounts falling due within one year 6 25,906 23,546
NET CURRENT ASSETS 19,305 67,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,430

219,352

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 171,330 219,252
171,430 219,352

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

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

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 29 January 2025 and were signed by:





I R Bruce - Director


Govan Digital Media Centre Limited (Registered number: SC259583)

Notes to the Financial Statements
for the Period 1 December 2022 to 30 April 2024

1. STATUTORY INFORMATION

Govan Digital Media Centre 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.
Land and buildings - not provided
Plant and machinery etc - 25% on cost

Investment property is included at fair value. Any gains in the year are recognised in the income statement.

Taxation
Taxation for the period 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 period 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.

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - 2 ).

Govan Digital Media Centre Limited (Registered number: SC259583)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022
and 30 April 2024 151,875 2,712 154,587
DEPRECIATION
At 1 December 2022 - 2,337 2,337
Charge for period - 125 125
At 30 April 2024 - 2,462 2,462
NET BOOK VALUE
At 30 April 2024 151,875 250 152,125
At 30 November 2022 151,875 375 152,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.11.22
£    £   
Trade debtors 32 56,859
Amounts owed by group undertakings 40,518 -
VAT 1,870 -
Prepayments and accrued income - 24,327
42,420 81,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.11.22
£    £   
Trade creditors 11,553 3,514
Tax 3,205 4,501
VAT - 1,654
Accrued expenses 11,148 13,877
25,906 23,546

7. INVESTMENT PROPERTY

In view of the granting of 99 year leases over the company's investment property it was decided in the year ended 30 November 2012 that the property should be revalued to open market value. The directors consider open market value to be nil at the present time and do not consider there to be a need for any further revaluation. The cost before revaluation of the investment property was £3,064,914.

8. SECURED DEBTS

All and whole the subjects known as and forming 100 Brand Street, Glasgow being the subjects registered in the Land Register of Scotland under title number GLA183303.