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REGISTERED NUMBER: SC406048 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GUPTA TOLLCROSS LTD

GUPTA TOLLCROSS LTD (REGISTERED NUMBER: SC406048)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GUPTA TOLLCROSS LTD

COMPANY INFORMATION
for the year ended 31 August 2024







DIRECTOR: R Gupta



REGISTERED OFFICE: 78 Gilmerton Dykes Road
Edinburgh
Lothian
EH17 8PE



REGISTERED NUMBER: SC406048 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: The Royal Bank of Scotland plc
26 Home Street
Edinburgh
EH3 9LZ



SOLICITORS: McClure Naismith
292 St.Vincent Street
Glasgow
G2 5TQ

GUPTA TOLLCROSS LTD (REGISTERED NUMBER: SC406048)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,931 17,651
12,931 17,651

CURRENT ASSETS
Stocks 6 4,000 4,198
Debtors 7 74,971 76,039
Cash at bank and in hand 7,563 8,130
86,534 88,367
CREDITORS
Amounts falling due within one year 8 41,045 41,441
NET CURRENT ASSETS 45,489 46,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,420

64,577

CREDITORS
Amounts falling due after more than one year 9 9,326 19,703
NET ASSETS 49,094 44,874

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48,994 44,774
SHAREHOLDERS' FUNDS 49,094 44,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 16 May 2025 and were signed by:





R Gupta - Director


GUPTA TOLLCROSS LTD (REGISTERED NUMBER: SC406048)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Gupta Tollcross 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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.

Franchise costs
Franchise costs, being the amount paid in connection with the acquisition of a business in 2011 is being amortised evenly over its useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.

Deferred tax
Deferred tax is recognised in respect of all material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

GUPTA TOLLCROSS LTD (REGISTERED NUMBER: SC406048)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


4. INTANGIBLE FIXED ASSETS
Franchise
costs
£   
COST
At 1 September 2023
and 31 August 2024 78,007
AMORTISATION
At 1 September 2023
and 31 August 2024 78,007
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2023 49,986
Disposals (3,072 )
At 31 August 2024 46,914
DEPRECIATION
At 1 September 2023 32,335
Charge for year 4,310
Eliminated on disposal (2,662 )
At 31 August 2024 33,983
NET BOOK VALUE
At 31 August 2024 12,931
At 31 August 2023 17,651

At 31 August 2024 the net book value of assets held under hire purchase contracts was £6,784 (2023: £9,045).

6. STOCKS
2024 2023
£    £   
Stocks 4,000 4,198

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 74,971 76,039

GUPTA TOLLCROSS LTD (REGISTERED NUMBER: SC406048)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,389 6,389
Hire purchase contracts 4,391 4,391
Trade creditors 5,108 4,630
Taxation and social security 16,634 14,498
Other creditors 8,523 11,533
41,045 41,441

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,499 11,485
Hire purchase contracts 3,827 8,218
9,326 19,703

10. RELATED PARTY DISCLOSURES

Included in Other Debtors at 31 August 2024 is a loan to a company controlled by the director amounting to £74,971 (2023: £75,620). The loan is unsecured, interest free and repayable on demand.

11. BOUNCE BACK LOAN SCHEME

The company borrowed £30,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.

2024 2023
£    £   
< 1 year 6,389 6,389
-5 years 5,499 11,485
> 5 years - -
11,888 17,874