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REGISTERED NUMBER: SC587140 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GAUZE PAISLEY LIMITED

GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GAUZE PAISLEY LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: G McCaw





REGISTERED OFFICE: Unit 11 Mossedge Industrial Estate
Linwood
PA3 3HR





REGISTERED NUMBER: SC587140 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,347 255,512

CURRENT ASSETS
Debtors 5 9,974 32,887
Cash at bank 2,138 6,185
12,112 39,072
CREDITORS
Amounts falling due within one year 6 133,502 145,907
NET CURRENT LIABILITIES (121,390 ) (106,835 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,957

148,677

CREDITORS
Amounts falling due after more than one year 7 48,535 61,901
NET ASSETS 49,422 86,776

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 49,421 86,775
SHAREHOLDERS' FUNDS 49,422 86,776

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 25 March 2025 and were signed by:




G McCaw - Director


GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Gauze Paisley 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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 2 (2023 - 2 ) .

GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023 120,000 17,924 120,061
Additions 8,000 - 3,400
At 30 June 2024 128,000 17,924 123,461
DEPRECIATION
At 1 July 2023 2,667 5,212 44,368
Charge for year 8,711 1,793 21,803
At 30 June 2024 11,378 7,005 66,171
NET BOOK VALUE
At 30 June 2024 116,622 10,919 57,290
At 30 June 2023 117,333 12,712 75,693

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 7,466 69,510 4,762 339,723
Additions 1,080 - - 12,480
At 30 June 2024 8,546 69,510 4,762 352,203
DEPRECIATION
At 1 July 2023 2,815 25,487 3,662 84,211
Charge for year 1,566 13,902 870 48,645
At 30 June 2024 4,381 39,389 4,532 132,856
NET BOOK VALUE
At 30 June 2024 4,165 30,121 230 219,347
At 30 June 2023 4,651 44,023 1,100 255,512

GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 69,510
DEPRECIATION
At 1 July 2023 25,487
Charge for year 13,902
At 30 June 2024 39,389
NET BOOK VALUE
At 30 June 2024 30,121
At 30 June 2023 44,023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,525 2,325
Other debtors 8,449 30,562
9,974 32,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 12,902 12,902
Trade creditors 44,101 101,752
Taxation and social security (72 ) 10,215
Other creditors 71,015 15,482
133,502 145,907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 32,408 32,871
Hire purchase contracts 16,127 29,030
48,535 61,901

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,185 10,648

GAUZE PAISLEY LIMITED (REGISTERED NUMBER: SC587140)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 29,029 41,932

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
G McCaw
Balance outstanding at start of year 2,863 63,413
Amounts advanced 16,900 34,450
Amounts repaid (55,492 ) (95,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (35,729 ) 2,863

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G McCaw.