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REGISTERED NUMBER: SC204989 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gilmour Sports Limited

Gilmour Sports Limited (Registered number: SC204989)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gilmour Sports Limited

Company Information
for the Year Ended 31 December 2024







Director: Mr Colin Gavin Hill



Registered office: 28 Wallneuk Road
Paisley
PA3 4BT



Registered number: SC204989 (Scotland)



Accountants: Total Accounting Ltd.
10 Moncrieff Street
Paisley
PA3 2BE



Bankers: The Royal Bank of Scotland
Paisley Chief Office
1 Moncrieff Street
Paisley
PA3 2AW

Gilmour Sports Limited (Registered number: SC204989)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 3 3,646 12,396
Tangible assets 4 339,344 364,392
342,990 376,788

Current assets
Stocks 405,728 391,557
Debtors 5 61,181 81,786
Cash at bank and in hand 72,478 80,059
539,387 553,402
Creditors
Amounts falling due within one year 6 (296,657 ) (271,402 )
Net current assets 242,730 282,000
Total assets less current liabilities 585,720 658,788

Creditors
Amounts falling due after more than one year 7 (199,807 ) (272,758 )
Net assets 385,913 386,030

Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 375,913 376,030
385,913 386,030

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

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

Gilmour Sports Limited (Registered number: SC204989)

Balance Sheet - continued
31 December 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2025 and were signed by:





Mr Colin Gavin Hill - Director


Gilmour Sports Limited (Registered number: SC204989)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

2. Employees and directors

The average number of employees during the year was 20 (2023 - 17 ) .

Gilmour Sports Limited (Registered number: SC204989)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 227,500
Amortisation
At 1 January 2024 215,104
Charge for year 8,750
At 31 December 2024 223,854
Net book value
At 31 December 2024 3,646
At 31 December 2023 12,396

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 January 2024 321,278 376,131 697,409
Additions - 7,925 7,925
At 31 December 2024 321,278 384,056 705,334
Depreciation
At 1 January 2024 59,922 273,095 333,017
Charge for year 6,312 26,661 32,973
At 31 December 2024 66,234 299,756 365,990
Net book value
At 31 December 2024 255,044 84,300 339,344
At 31 December 2023 261,356 103,036 364,392

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 31,698 65,505
Other debtors 29,483 16,281
61,181 81,786

Gilmour Sports Limited (Registered number: SC204989)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 72,004 94,918
Hire purchase contracts 24,372 23,485
Trade creditors 112,038 78,080
Taxation and social security 26,678 26,351
Other creditors 61,565 48,568
296,657 271,402

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (secured) 173,164 220,014
Hire purchase contracts 24,643 48,744
Other creditors 2,000 4,000
199,807 272,758

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans (secured) 245,168 314,932
Hire purchase contracts 49,015 72,229
294,183 387,161

9. Ultimate controlling party

The ultimate controlling party is Mr Colin Gavin Hill.