Golden Lion Pilotage and Marine Services Company Limited 30/09/2024 iXBRL

Company registration number: SC110062

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Unaudited filleted financial statements

30 September 2024

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Directors and other information


	Directors	Stuart A Gilbert
		Rory C S Hamilton


	Company number	SC110062


	Registered office	16-18 Weir Street
		Falkirk
		FK1 1RA


	Accountants	Barrie Scott & Co.
		16-18 Weir Street
		Falkirk
		FK1 1RA

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Golden Lion Pilotage and Marine Services Company Limited

Year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Golden Lion Pilotage and Marine Services Company Limited for the year ended 30 September 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation -of-accounts-revised-june-2020.

This report is made solely to the board of directors of Golden Lion Pilotage and Marine Services Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Golden Lion Pilotage and Marine Services Company Limited and state those matters that we have agreed to state to the board of directors of Golden Lion Pilotage and Marine Services Company Limited as a body, in this report in accordance with the requirements of ICAS as detailed at https://www.icas.com/regulation-technical-resources/ documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golden Lion Pilotage and Marine Services Company Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Golden Lion Pilotage and Marine Services Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Golden Lion Pilotage and Marine Services Company Limited. You consider that Golden Lion Pilotage and Marine Services Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Golden Lion Pilotage and Marine Services Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Barrie Scott & Co.

Accountants & Tax Advisers

16-18 Weir Street

Falkirk

FK1 1RA

8 April 2025

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Statement of financial position

30 September 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	-		264
		_______		_______
			-		264

Current assets
Debtors	6	365,545		348,528
Cash at bank and in hand		81,661		138,963
		_______		_______
		447,206		487,491
Creditors: amounts falling due
within one year	7	( 442,228)		( 484,377)
		_______		_______
Net current assets			4,978		3,114
			_______		_______
Total assets less current liabilities			4,978		3,378

			_______		_______
Net assets			4,978		3,378
			_______		_______

Capital and reserves
Profit and loss account			4,978		3,378
			_______		_______
Members funds			4,978		3,378
			_______		_______

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

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:

Stuart A Gilbert

Director

Company registration number: SC110062

Golden Lion Pilotage and Marine Services Company Limited

Company limited by guarantee

Notes to the financial statements

Year ended 30 September 2024

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 16-18 Weir Street, Falkirk, FK1 1RA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

These accounts are prepared on a Going Concern basis.

Turnover

Turnover represents the net invoiced charges for marine pilot services and simulator training services.Revenue is recognised when the service has been provided.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	3 years straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where is is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

4. Limited by guarantee

The company is incorporated as a company limited by guarantee of its members, not having share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he/she is a member or within one year after he/she ceases to be a member, for payment of the debts and liabilities of the company contracted before he/she ceased to be a member, and of the costs, charges and expenses of winding up and for such amount as may be required, not exceeding £1.

5. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 October 2023 and 30 September 2024	7,507	7,507
	_______	_______
Depreciation
At 1 October 2023	7,243	7,243
Charge for the year	264	264
	_______	_______
At 30 September 2024	7,507	7,507
	_______	_______
Carrying amount
At 30 September 2024	-	-
	_______	_______
At 30 September 2023	264	264
	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	352,364	334,175
Other debtors	13,181	14,353
	_______	_______
	365,545	348,528
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	412,967	450,149
Social security and other taxes	2,697	-
Other creditors	26,564	34,228
	_______	_______
	442,228	484,377
	_______	_______