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COMPANY REGISTRATION NUMBER: SC194588
GMS Contract Services Limited
Unaudited Financial Statements
30 June 2024
GMS Contract Services Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
GMS Contract Services Limited
Director's Report
Year ended 30 June 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2024 .
Director
The director who served the company during the year was as follows:
Mr DT Muir
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 19 June 2025 and signed on behalf of the board by:
Mr DT Muir
Director
Registered office:
15 Littlecauseway
Forfar
Angus
DD8 2AD
GMS Contract Services Limited
Statement of Income and Retained Earnings
Year ended 30 June 2024
2024
2023
Note
£
£
Turnover
19,564
65,813
Cost of sales
14,844
60,935
--------
--------
Gross profit
4,720
4,878
Administrative expenses
4,982
4,934
-------
-------
Operating loss
( 262)
( 56)
-------
-------
Loss before taxation
( 262)
( 56)
Tax on loss
----
----
Loss for the financial year and total comprehensive income
( 262)
( 56)
----
----
Retained earnings at the start of the year
8
64
----
----
Retained (losses)/earnings at the end of the year
( 254)
8
----
----
All the activities of the company are from continuing operations.
GMS Contract Services Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
13,001
Cash at bank and in hand
969
2,595
----
--------
969
15,596
Creditors: amounts falling due within one year
5
923
15,288
----
--------
Net current assets
46
308
----
----
Total assets less current liabilities
46
308
----
----
Net assets
46
308
----
----
Capital and reserves
Called up share capital
300
300
Profit and loss account
( 254)
8
----
----
Shareholders funds
46
308
----
----
These financial statements have been prepared 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'.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:
Mr DT Muir
Director
Company registration number: SC194588
GMS Contract Services Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 15 Littlecauseway, Forfar, Angus, DD8 2AD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
2024
2023
£
£
Trade debtors
13,001
----
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
923
2,166
Other creditors
13,122
----
--------
923
15,288
----
--------
6. Related party transactions
GMS Contract Services Limited is owned by a number of shareholders with no one shareholder having control of the company. Therefore the Director is of the opinion that there is no ultimate controlling party.