Caseware UK (AP4) 2024.0.164 2024.0.164 50400006140670falseNo description of principal activity2023-07-0177truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00466661 2023-07-01 2024-06-30 00466661 2022-07-01 2023-06-30 00466661 2024-06-30 00466661 2023-06-30 00466661 2 2023-07-01 2024-06-30 00466661 d:Director1 2023-07-01 2024-06-30 00466661 d:Director2 2023-07-01 2024-06-30 00466661 e:MotorVehicles 2023-07-01 2024-06-30 00466661 e:MotorVehicles 2024-06-30 00466661 e:MotorVehicles 2023-06-30 00466661 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00466661 e:FurnitureFittings 2023-07-01 2024-06-30 00466661 e:FurnitureFittings 2024-06-30 00466661 e:FurnitureFittings 2023-06-30 00466661 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00466661 e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00466661 e:Goodwill 2024-06-30 00466661 e:Goodwill 2023-06-30 00466661 e:FreeholdInvestmentProperty 2024-06-30 00466661 e:FreeholdInvestmentProperty 2023-06-30 00466661 e:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 00466661 e:LeaseholdInvestmentProperty 2024-06-30 00466661 e:LeaseholdInvestmentProperty 2023-06-30 00466661 e:LeaseholdInvestmentProperty 2 2023-07-01 2024-06-30 00466661 e:CurrentFinancialInstruments 2024-06-30 00466661 e:CurrentFinancialInstruments 2023-06-30 00466661 e:Non-currentFinancialInstruments 2024-06-30 00466661 e:Non-currentFinancialInstruments 2023-06-30 00466661 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 00466661 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 00466661 e:Non-currentFinancialInstruments e:AfterOneYear 2024-06-30 00466661 e:Non-currentFinancialInstruments e:AfterOneYear 2023-06-30 00466661 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-06-30 00466661 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-06-30 00466661 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-06-30 00466661 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-06-30 00466661 e:ShareCapital 2024-06-30 00466661 e:ShareCapital 2023-06-30 00466661 e:RevaluationReserve 2023-07-01 2024-06-30 00466661 e:RevaluationReserve 2024-06-30 00466661 e:RevaluationReserve 2023-06-30 00466661 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 00466661 e:RetainedEarningsAccumulatedLosses 2024-06-30 00466661 e:RetainedEarningsAccumulatedLosses 2023-06-30 00466661 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 00466661 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 00466661 d:OrdinaryShareClass1 2023-07-01 2024-06-30 00466661 d:OrdinaryShareClass1 2024-06-30 00466661 d:OrdinaryShareClass1 2023-06-30 00466661 d:FRS102 2023-07-01 2024-06-30 00466661 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 00466661 d:FullAccounts 2023-07-01 2024-06-30 00466661 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00466661 6 2023-07-01 2024-06-30 00466661 7 2023-07-01 2024-06-30 00466661 e:AcceleratedTaxDepreciationDeferredTax 2024-06-30 00466661 e:AcceleratedTaxDepreciationDeferredTax 2023-06-30 00466661 e:TaxLossesCarry-forwardsDeferredTax 2024-06-30 00466661 e:TaxLossesCarry-forwardsDeferredTax 2023-06-30 00466661 e:OtherDeferredTax 2024-06-30 00466661 e:OtherDeferredTax 2023-06-30 00466661 e:Goodwill e:OwnedIntangibleAssets 2023-07-01 2024-06-30 00466661 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00466661










G. T. GILLIE & BLAIR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the year ended 30 June 2024

 
G. T. GILLIE & BLAIR LIMITED
Registered number: 00466661

BALANCE SHEET
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,333
15,333

Tangible assets
 5 
22,926
29,312

Investments
 6 
127,838
114,089

Investment property
 7 
2,520,000
3,070,335

  
2,678,097
3,229,069

Current assets
  

Debtors: amounts falling due within one year
 8 
68,123
68,073

Cash at bank and in hand
 9 
230,114
251,791

  
298,237
319,864

Creditors: amounts falling due within one year
 10 
(393,381)
(367,956)

Net current liabilities
  
 
 
(95,144)
 
 
(48,092)

Total assets less current liabilities
  
2,582,953
3,180,977

Creditors: amounts falling due after more than one year
 11 
(557,898)
(665,545)

Provisions for liabilities
  

Deferred tax
 14 
-
(93,251)

  
 
 
-
 
 
(93,251)

Net assets
  
2,025,055
2,422,181


Capital and reserves
  

Called up share capital 
 15 
9,750
9,750

Revaluation reserve
 16 
513,961
673,368

Profit and loss account
 16 
1,501,344
1,739,063

  
2,025,055
2,422,181


Page 1

 
G. T. GILLIE & BLAIR LIMITED
Registered number: 00466661
    
BALANCE SHEET (CONTINUED)
As at 30 June 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 January 2025.







................................................
G S Gillie
................................................
A G Gillie
Director
Director

The notes on pages 3 to 13 form part of these financial statements.
 

Page 2

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 178 New Bridge Street, Newcastle upon Tyne, NE1 2TE. The Company's number is 00466661.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The company provides ship taking, ship agency and ship management services. Revenue is recognised on all activities on invoice.
Investment income from property rents is recognised when rents are due.  Where the company has provided rent relief during the Covid period, this relief is recognised as a reduction in income in full in the period for which the relief is given, and is not spread over the whole term of the lease.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

The company also makes payments to individual pension plans for some individuals. The contributions are recognised as an expense in the Statement of comprehensive income when the payment is made.

  
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

  
2.9

Intangible Assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life, which is estimated at 5 years.

Page 4

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed in the table below.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
10%
reducing balance and 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss. 

 
2.12

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. 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.

Page 5

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.16

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
40,000



At 30 June 2024

40,000



Amortisation


At 1 July 2023
24,667


Charge for the year on owned assets
8,000



At 30 June 2024

32,667



Net book value



At 30 June 2024
7,333



At 30 June 2023
15,333



Page 6

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
27,690
36,541
64,231


Additions
-
2,123
2,123


Disposals
-
(874)
(874)



At 30 June 2024

27,690
37,790
65,480



Depreciation


At 1 July 2023
5,769
29,150
34,919


Charge for the year on owned assets
5,480
2,610
8,090


Disposals
-
(455)
(455)



At 30 June 2024

11,249
31,305
42,554



Net book value



At 30 June 2024
16,441
6,485
22,926



At 30 June 2023
21,921
7,391
29,312


6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 July 2023
114,089


Revaluations
13,749



At 30 June 2024
127,838




Page 7

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

7.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 July 2023
2,895,335
175,000
3,070,335


Surplus on revaluation
(550,335)
-
(550,335)



At 30 June 2024
2,345,000
175,000
2,520,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.








8.


Debtors

2024
2023
£
£


Trade debtors
48,304
47,984

Prepayments and accrued income
19,819
20,089

68,123
68,073



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
230,114
251,791

230,114
251,791


Page 8

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
102,126
100,055

Trade creditors
76,356
62,980

Corporation tax
21,728
29,513

Other taxation and social security
105,476
86,887

Obligations under finance lease and hire purchase contracts
5,253
5,253

Other creditors
19,328
23,094

Accruals and deferred income
63,114
60,174

393,381
367,956


The following liabilities were secured:

2024
2023
£
£



Bank loans
102,126
100,055

Hire purchase liabilities
5,253
5,253

107,379
105,308

Details of security provided:

Bank loans are secured by fixed and floating charges on the investment properties and chattels to which they relate.  
Hire purchase liabilities relate to motor vehicles.

Page 9

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
546,079
648,473

Net obligations under finance leases and hire purchase contracts
11,819
17,072

557,898
665,545


The following liabilities were secured:

2024
2023
£
£



Bank loans
546,079
648,473

Hire purchase liabilities
11,819
17,072

557,898
665,545

Details of security provided:

Bank loans are secured by fixed and floating charges on the investment properties and chattels to which they relate.  
Hire purchase liabilities relate to motor vehicles.

Page 10

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
102,126
100,055


102,126
100,055


Amounts falling due 2-5 years

Bank loans
349,659
411,315


349,659
411,315

Amounts falling due after more than 5 years

Bank loans
196,422
237,158

196,422
237,158

648,207
748,528



13.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
127,838
114,089




Financial assets measured at fair value through profit or loss comprise investments in listed shares.The company does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the company is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.  These are managed through the use of an external Investment Manager. 

Page 11

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

14.


Deferred taxation




2024


£






At beginning of year
(93,251)


Charged to profit or loss
93,251



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
210

Short term timing differences
-
321

Deferred tax on investment properties and share investments
-
(93,782)

-
(93,251)

Page 12

 
G. T. GILLIE & BLAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024

15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



9,750 (2023 - 9,750) Ordinary shares shares of £1.00 each
9,750
9,750



16.


Reserves

Revaluation reserve

The revaluation reserve is a memorandum reserve forming part of the retained profit reserves of the company and records the value of recognised but not realised gains held within investment properties.  Movements in the reserve represent changes in the valuation of the company's investment properties.

Profit & loss account

The profit and loss account retains cumulative annual profits or losses of the company.

Page 13