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REGISTERED NUMBER: SC647127 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

GM Sweepers UK Ltd.

GM Sweepers UK Ltd. (Registered number: SC647127)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


GM Sweepers UK Ltd. (Registered number: SC647127)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 290,288 394,746

CURRENT ASSETS
Stocks 479,235 920,277
Debtors 5 545,539 325,429
Cash at bank 55,405 38,609
1,080,179 1,284,315
CREDITORS
Amounts falling due within one year 6 (1,138,836 ) (1,573,369 )
NET CURRENT LIABILITIES (58,657 ) (289,054 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,631

105,692

PROVISIONS FOR LIABILITIES (31,435 ) (6,677 )
NET ASSETS 200,196 99,015

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 195,196 94,015
SHAREHOLDERS' FUNDS 200,196 99,015

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

GM Sweepers UK Ltd. (Registered number: SC647127)

Balance Sheet - continued
31 December 2024


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 10 July 2025 and were signed on its behalf by:





F Russell - Director


GM Sweepers UK Ltd. (Registered number: SC647127)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

GM Sweepers UK Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC647127. The registered office is 19-21 Tollpark Road, Wardpark East, Cumbernauld, North Lanarkshire, G68 0LW

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the sales and manufacture of sweeper machines, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
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 cost, 25% on cost and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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 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.

GM Sweepers UK Ltd. (Registered number: SC647127)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern
The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors belief that the company should prepare financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 527,236
Additions 45,560
Disposals (33,087 )
At 31 December 2024 539,709
DEPRECIATION
At 1 January 2024 132,490
Charge for year 122,425
Eliminated on disposal (5,494 )
At 31 December 2024 249,421
NET BOOK VALUE
At 31 December 2024 290,288
At 31 December 2023 394,746

GM Sweepers UK Ltd. (Registered number: SC647127)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 525,865 294,247
Amounts owed by group undertakings - 10,712
Other debtors 19,674 20,470
545,539 325,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,059,034 82,177
Amounts owed to group undertakings - 1,428,896
Amounts owed to related parties - 7,923
Taxation and social security 15,241 27,209
Other creditors 64,561 27,164
1,138,836 1,573,369

7. RELATED PARTY DISCLOSURES

Companies under common control
Amounts owed to related parties - £nil (2023: £7,923)