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REGISTERED NUMBER: SC404112 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

GLOBAL SCOTCREST LTD

GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLOBAL SCOTCREST LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: N A Hunter
Mrs P M Hunter
E A Hunter





REGISTERED OFFICE: 6th floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC404112 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 3,984 6,330
Tangible assets 5 54,051 41,929
58,035 48,259

CURRENT ASSETS
Stocks 31,346 38,550
Debtors 6 44,338 39,669
Cash at bank and in hand 61,234 57,040
136,918 135,259
CREDITORS
Amounts falling due within one year 7 61,871 71,331
NET CURRENT ASSETS 75,047 63,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,082

112,187

CREDITORS
Amounts falling due after more than one
year

8

(87,993

)

(94,923

)

PROVISIONS FOR LIABILITIES (11,351 ) -
NET ASSETS 33,738 17,264

GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Balance Sheet - continued
31 JULY 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 33,736 17,262
SHAREHOLDERS' FUNDS 33,738 17,264

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 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 Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





Mrs P M Hunter - Director


GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Global Scotcrest Ltd 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.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis and 15% on a reducing balance basis

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

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 balance sheet date.


GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023 9,490
Additions 1,222
At 31 July 2024 10,712
AMORTISATION
At 1 August 2023 3,160
Charge for year 3,568
At 31 July 2024 6,728
NET BOOK VALUE
At 31 July 2024 3,984
At 31 July 2023 6,330

GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 71,398
Additions 24,308
At 31 July 2024 95,706
DEPRECIATION
At 1 August 2023 29,469
Charge for year 12,186
At 31 July 2024 41,655
NET BOOK VALUE
At 31 July 2024 54,051
At 31 July 2023 41,929

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,764 38,364
Other debtors 1,574 1,305
44,338 39,669

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,800 2,800
Trade creditors 26,828 42,261
Taxation and social security 21,878 7,941
Other creditors 10,365 18,329
61,871 71,331

GLOBAL SCOTCREST LTD (REGISTERED NUMBER: SC404112)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 15,230 17,838
Other creditors 72,763 77,085
87,993 94,923

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary 10p 2 2