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REGISTERED NUMBER: SC777602 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 2024

FOR

GMG CONSULTANCY LTD

GMG CONSULTANCY LTD (REGISTERED NUMBER: SC777602)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GMG CONSULTANCY LTD

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 2024







DIRECTOR: G Greene





REGISTERED OFFICE: 107 Aitchison Street
Airdrie
ML6 0DB





REGISTERED NUMBER: SC777602 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

GMG CONSULTANCY LTD (REGISTERED NUMBER: SC777602)

BALANCE SHEET
31 AUGUST 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 3,949

CURRENT ASSETS
Debtors 5 11,428
Cash at bank 13,068
24,496
CREDITORS
Amounts falling due within one year 6 2,916
NET CURRENT ASSETS 21,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,529

CREDITORS
Amounts falling due after more than one
year

7

21,309
NET ASSETS 4,220

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings 4,219
4,220

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 26 March 2025 and were signed by:



G Greene - Director


GMG CONSULTANCY LTD (REGISTERED NUMBER: SC777602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 2024

1. STATUTORY INFORMATION

GMG Consultancy 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 stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation
Taxation for the period 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.


GMG CONSULTANCY LTD (REGISTERED NUMBER: SC777602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 4,636
At 31 August 2024 4,636
DEPRECIATION
Charge for period 687
At 31 August 2024 687
NET BOOK VALUE
At 31 August 2024 3,949

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 11,428

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 1,236
Other creditors 1,680
2,916

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 21,309

GMG CONSULTANCY LTD (REGISTERED NUMBER: SC777602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 AUGUST 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 August 2024:

£   
G Greene
Balance outstanding at start of period -
Amounts advanced 37,830
Amounts repaid (16,521 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period 21,309

Director's loans are interest free and repayable on demand.