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GERCO-FAS LIMITED

Registered Number
SC271220
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

GERCO-FAS LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Michael Anderson

Registered Address

1st Floor, Unit A Aquarius Court
Viking Way
Rosyth
KY11 2DW

Registered Number

SC271220 (Scotland)
GERCO-FAS LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3108,36976,754
108,36976,754
Current assets
Stocks91,18795,436
Debtors42,715,4681,687,789
Cash at bank and on hand265,76372,769
3,072,4181,855,994
Creditors amounts falling due within one year5(2,025,852)(1,085,684)
Net current assets (liabilities)1,046,566770,310
Total assets less current liabilities1,154,935847,064
Creditors amounts falling due after one year6(77,866)(99,668)
Provisions for liabilities(11,423)(5,401)
Net assets1,065,646741,995
Capital and reserves
Called up share capital22
Profit and loss account1,065,644741,993
Shareholders' funds1,065,646741,995
The financial statements were approved and authorised for issue by the Director on 24 July 2025, and are signed on its behalf by:
Michael Anderson
Director
Registered Company No. SC271220
GERCO-FAS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. 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 a 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 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. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the statement of comprehensive income turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Foreign currency translation
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Current 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 between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
2.Average number of employees

20242023
Average number of employees during the year1816
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 247,155127,31541,869176,339
Additions-51,2403,91855,158
Disposals--(1,069)(1,069)
At 31 December 247,155178,55544,718230,428
Depreciation and impairment
At 01 January 245,03766,98327,56599,585
Charge for year53118,7333,97823,242
On disposals--(768)(768)
At 31 December 245,56885,71630,775122,059
Net book value
At 31 December 241,58792,83913,943108,369
At 31 December 232,11860,33214,30476,754
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables114,588175,840
Other debtors2,503,8691,477,281
Prepayments and accrued income97,01134,668
Total2,715,4681,687,789
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables543,094361,072
Bank borrowings and overdrafts177,76252,001
Taxation and social security31,60064,336
Finance lease and HP contracts15,351-
Other creditors911,738266,436
Accrued liabilities and deferred income346,307341,839
Total2,025,8521,085,684
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts47,66799,668
Other creditors30,199-
Total77,86699,668
Svenska Handelsbanken Ab (Publ) holds a floating charge over the whole assets of the company.
7.Capital commitments
Minimum operating leases fall due as follows:- Due within one year £25,440 Due between two and five years £101,760 Due in more than 5 years £50,880