Gordon Grant (General Merchant) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC051448

Gordon Grant (General Merchant) Limited

Filleted Unaudited Financial Statements

31 December 2024

Gordon Grant (General Merchant) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Gordon Grant (General Merchant) Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Gordon Grant (General Merchant) Limited

Year ended 31 December 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 Gordon Grant (General Merchant) Limited for the year ended 31 December 2024, which comprise the statement of financial position and the 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 www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Gordon Grant (General Merchant) Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Gordon Grant (General Merchant) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gordon Grant (General Merchant) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gordon Grant (General Merchant) 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 Gordon Grant (General Merchant) Limited. You consider that Gordon Grant (General Merchant) 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 Gordon Grant (General Merchant) 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.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

25 September 2025

Gordon Grant (General Merchant) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		1,247,647	1,268,465

Current assets

Stocks		149,500	189,809
Debtors	6	12,437	17,278
Cash at bank and in hand		88,195	68,827
		---------	---------
		250,132	275,914

Creditors: amounts falling due within one year	7	509,355		517,806
		---------		---------
Net current liabilities			259,223	241,892
			------------	------------
Total assets less current liabilities			988,424	1,026,573

Provisions

Taxation including deferred tax	19,963	19,880
	---------	------------
Net assets	968,461	1,006,693
	---------	------------

Capital and reserves

Called up share capital	5,500	5,500
Profit and loss account	962,961	1,001,193
	---------	------------
Shareholders funds	968,461	1,006,693
	---------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 December 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 .

Gordon Grant (General Merchant) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mrs E C Poynter

Director

Company registration number: SC051448

Gordon Grant (General Merchant) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Achavaich, Isle of Iona, PA76 6SW, Scotland.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Freehold property	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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 it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 16 (2023: 15 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Investment Property	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	1,018,894	119,335	193,899	69,353	469,778	1,871,259
Additions	–	4,752	–	21,235	–	25,987
Disposals	–	–	–	( 11,575)	–	( 11,575)
	------------	---------	---------	--------	---------	------------
At 31 Dec 2024	1,018,894	124,087	193,899	79,013	469,778	1,885,671
	------------	---------	---------	--------	---------	------------
Depreciation
At 1 Jan 2024	329,374	53,600	193,899	25,921	–	602,794
Charge for the year	20,378	10,306	–	13,233	–	43,917
Disposals	–	–	–	( 8,687)	–	( 8,687)
	------------	---------	---------	--------	---------	------------
At 31 Dec 2024	349,752	63,906	193,899	30,467	–	638,024
	------------	---------	---------	--------	---------	------------
Carrying amount
At 31 Dec 2024	669,142	60,181	–	48,546	469,778	1,247,647
	------------	---------	---------	--------	---------	------------
At 31 Dec 2023	689,520	65,735	–	43,432	469,778	1,268,465
	------------	---------	---------	--------	---------	------------

Tangible assets held at valuation

The company's Investment properties have been stated at historical cost as in the opinion of the director's the fair value is not materially different from historical cost.

6. Debtors

	2024	2023
	£	£
Prepayments and accrued income	5,900	6,800
Other debtors	6,537	10,478
	--------	--------
	12,437	17,278
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,856	1,986
Accruals and deferred income	13,471	24,396
Corporation tax	23,107	21,284
Social security and other taxes	2,349	3,698
Director loan accounts	462,385	463,928
Other creditors	6,187	2,514
	---------	---------
	509,355	517,806
	---------	---------

8. Directors' advances, credits and guarantees

At the year end the company owed to the directors as follows; Eilidh Poynter £124,188 (2023: £131,177 ), Catriona Grant £145,049 (2023: £143,943), John Poynter £47,796 (2023: £44,240) and Sheila Grant £145,353 (2023: £144,568).These amounts are interest free and repayable.

9. Controlling party

The company was not under the control of any one individual during the current or previous year .