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REGISTERED NUMBER: SC282682 (Scotland)















Financial Statements For The Year Ended 31 March 2024

for

The Glasgow Pram Centre Limited

The Glasgow Pram Centre Limited (Registered number: SC282682)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


The Glasgow Pram Centre Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: K J Stark
Mrs N Stark





REGISTERED OFFICE: 25-29 McFarlane Street
Glasgow
G4 0TL





REGISTERED NUMBER: SC282682 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

The Glasgow Pram Centre Limited (Registered number: SC282682)

Abridged Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 408,518 441,222
408,518 441,222

CURRENT ASSETS
Stocks 1,298,619 1,346,835
Debtors 911,556 528,972
2,210,175 1,875,807
CREDITORS
Amounts falling due within one year 1,977,080 1,671,714
NET CURRENT ASSETS 233,095 204,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

641,613

645,315

CREDITORS
Amounts falling due after more than one
year

-

(76,397

)

PROVISIONS FOR LIABILITIES (50,043 ) (56,725 )
NET ASSETS 591,570 512,193

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 591,270 511,893
SHAREHOLDERS' FUNDS 591,570 512,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

The Glasgow Pram Centre Limited (Registered number: SC282682)

Abridged Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





K J Stark - Director


The Glasgow Pram Centre Limited (Registered number: SC282682)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Glasgow Pram 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.

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 and represents the amount receivable for goods supplied, net of returns, discount and value added taxes.Turnover is recognised when the significant risks and rewards of ownership have been transferred to buyer.

Retail based sales are recognised at point of sale in the store. Internet based transactions and recognised when risks and rewards of stock are passed to the customer.

Where payments are received from customers in advance of goods being provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance and 2% on reducing balance
Fixed plant and equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


The Glasgow Pram Centre Limited (Registered number: SC282682)

Notes to the Financial Statements - continued
For The Year Ended 31 March 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 33 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 3,572
AMORTISATION
At 1 April 2023
and 31 March 2024 3,572
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

The Glasgow Pram Centre Limited (Registered number: SC282682)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 560,392
Additions 3,571
At 31 March 2024 563,963
DEPRECIATION
At 1 April 2023 119,170
Charge for year 36,275
At 31 March 2024 155,445
NET BOOK VALUE
At 31 March 2024 408,518
At 31 March 2023 441,222

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023
and 31 March 2024 21,285
DEPRECIATION
At 1 April 2023 10,061
Charge for year 2,805
At 31 March 2024 12,866
NET BOOK VALUE
At 31 March 2024 8,419
At 31 March 2023 11,224

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 226,720 286,803
Bank loans 325,000 -
Hire purchase contracts 3,897 9,093
555,617 295,896

The Royal Bank of Scotland PLC holds a floating charge over the assets of the company.

The Glasgow Pram Centre Limited (Registered number: SC282682)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
K J Stark
Balance outstanding at start of year 440,102 421,691
Amounts advanced 99,758 117,677
Amounts repaid (372,083 ) (99,266 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 167,777 440,102