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REGISTERED NUMBER: SC382670 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

FOR

FGY LIMITED

FGY LIMITED (REGISTERED NUMBER: SC382670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

FGY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024







DIRECTOR: Grant Young





REGISTERED OFFICE: 60 Home Farm Road
Stirling
FK7 9RB





REGISTERED NUMBER: SC382670 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

FGY LIMITED (REGISTERED NUMBER: SC382670)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,160 1,128

CURRENT ASSETS
Debtors 5 49,776 8,669
Cash at bank 12,626 41,670
62,402 50,339
CREDITORS
Amounts falling due within one year 6 49,735 35,709
NET CURRENT ASSETS 12,667 14,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,827

15,758

PROVISIONS FOR LIABILITIES 7 507 286
NET ASSETS 14,320 15,472

CAPITAL AND RESERVES
Called up share capital 8 5 5
Share premium 9 796 796
Retained earnings 9 13,519 14,671
SHAREHOLDERS' FUNDS 14,320 15,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 27 February 2025 and were signed by:





Grant Young - Director


FGY LIMITED (REGISTERED NUMBER: SC382670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

FGY 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.

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


During the year, the financial year end was extended from 30 April 2024 to 31 May 2024, creating a 13 month reporting period. This was performed to incorporate the company's final month of trading. The comparative amounts presented in the financial statements, including the related notes, are not entirely comparable as they relate to the prior 12 month period to the current period financial statements.

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 the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

FGY LIMITED (REGISTERED NUMBER: SC382670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 4,017
Additions 2,060
Disposals (1,423 )
At 31 May 2024 4,654
DEPRECIATION
At 1 May 2023 2,889
Charge for period 1,028
Eliminated on disposal (1,423 )
At 31 May 2024 2,494
NET BOOK VALUE
At 31 May 2024 2,160
At 30 April 2023 1,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,032 -
Directors' current accounts 27,140 8,669
Tax 4,604 -
49,776 8,669

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 36,208 18,377
Social security and other taxes 237 423
VAT 11,841 9,679
Other creditors - 4,843
Accrued expenses 1,449 2,387
49,735 35,709

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 507 286

Deferred
tax
£   
Balance at 1 May 2023 286
Charge to Income Statement during period 221
Balance at 31 May 2024 507

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

FGY LIMITED (REGISTERED NUMBER: SC382670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MAY 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5 Ordinary £1 5 5

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 May 2023 14,671 796 15,467
Profit for the period 102,848 102,848
Dividends (104,000 ) (104,000 )
At 31 May 2024 13,519 796 14,315

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 May 2024 and the year ended 30 April 2023:

2024 2023
£    £   
Grant Young
Balance outstanding at start of period 8,669 -
Amounts advanced 27,140 8,680
Amounts repaid (8,669 ) (11 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 27,140 8,669

The loan was interest free and repayable on demand.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FGY LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FGY Limited for the period ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of FGY Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FGY Limited and state those matters that we have agreed to state to the director of FGY Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that FGY Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FGY Limited. You consider that FGY Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of FGY Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


27 February 2025