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Registered Number: SC434463
Scotland

 

 

 

GASTRO MEDICINE UK LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Director Mr David Watts
Registered Number SC434463
Registered Office Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
Accountants M&S Accountancy & Taxation Limited
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 3 391,049    327,587 
Cash at bank and in hand 155,066    155,160 
546,115    482,747 
Creditors: amount falling due within one year 4 (49,942)   (73,288)
Net current assets 496,173    409,459 
 
Total assets less current liabilities 496,173    409,459 
Net assets 496,173    409,459 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 496,073    409,359 
Shareholders' funds 496,173    409,459 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 17 April 2025 and were signed by:


-------------------------------
Mr David Watts
Director
2
General Information
Gastro Medicine UK Limited is a private company, limited by shares, registered in Scotland, registration number SC434463, registration address Unit 26, Dunfermline Business Centre, Izatt Avenue, Dunfermline, Fife, KY11 3BZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 12,085    6,510 
Other Debtors 100,254    86,661 
Directors' Current Accounts 278,710    234,416 
391,049    327,587 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 45,326    60,591 
PAYE & Social Security 615    615 
Accrued Expenses 2,501    7,982 
Other Creditors 1,500    4,100 
49,942    73,288 

5.

Director’s loan

Key Management Personnel

Particulars   2024
£
  2023
£
D Watts 278,710  234,416 


Interest has been charged on the loan at a rate of 2.25%. Advances totalling £39,680 and payments totalling £1,000 were made during the year. The loan is unsecure and repayable on demand.

6.

Called up share capital

Ordinary Share Capital - Issued and Fully Paid   2024
£
  2023
£
A Ordinary of £1 each 60  60 
B Ordinary of £1 each 15  15 
C Ordinary of £1 each
D Ordinary of £1 each
E Ordinary of £1 each
F Ordinary of £1 each 10  10 
100  100 

3