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Registration number: SC596786

Gerry Burke TV Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Gerry Burke TV Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Gerry Burke TV Limited

(Registration number: SC596786)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,647

16,750

Current assets

 

Debtors

5

1,923

858

Cash at bank and in hand

 

3,664

2,927

 

5,587

3,785

Creditors: Amounts falling due within one year

6

(14,342)

(10,350)

Net current liabilities

 

(8,755)

(6,565)

Net assets

 

4,892

10,185

Capital and reserves

 

Called up share capital

10

10

Retained earnings

4,882

10,175

Shareholders' funds

 

4,892

10,185

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 27 February 2025
 

.........................................
Mr Gerry Burke
Director

 

Gerry Burke TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

The principal place of business is:
Summerhill Cottage
Perth Road
Stanley
Perth
PH1 4PW
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Gerry Burke TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other 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 reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% Straight Line

Equipment

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Gerry Burke TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 1).

 

Gerry Burke TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

82,530

18,516

101,046

Additions

-

11,433

11,433

Disposals

(47,501)

(18,516)

(66,017)

At 31 May 2024

35,029

11,433

46,462

Depreciation

At 1 June 2023

65,780

18,516

84,296

Charge for the year

9,844

2,287

12,131

Eliminated on disposal

(45,096)

(18,516)

(63,612)

At 31 May 2024

30,528

2,287

32,815

Carrying amount

At 31 May 2024

4,501

9,146

13,647

At 31 May 2023

16,750

-

16,750

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,923

858

 

1,923

858

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

8,779

8,815

Accruals and deferred income

1,547

1,526

Other creditors

4,016

9

14,342

10,350

 

Gerry Burke TV Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £2,752.22 (2023 - £2,174.44) per each Ordinary A shares

24,770

19,570

Final dividend of £500.00 (2023 - £3,000.00) per each Ordinary B shares

500

3,000

25,270

22,570