GKR FACILITIES SERVICES LTD.


Directors	LANDLES, Garry James
	POTTER, David
	PRITCHARD, Glyn


Company Secretary	LANDLES, Garry James


Registered Address	First Floor (North West), Grove House 1 Kilmartin Place
	Tannochside Park
	Uddingston
	G71 5PH


Registered Number	SC372655 (Scotland)

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.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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.

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.

	Intangible assets
	Tangible fixed assets are stated at cost or valuation less amortisation. Amortisation is provided for at a rate of 20% per year, on a straight line basis.

	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 machinery	20
	Fixtures and fittings	20
	Vehicles	20
	Office Equipment	50

	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.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	60		44

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	3,725	3,725
At 31 December 24	3,725	3,725
Amortisation and impairment
At 01 January 24	1,242	1,242
Charge for year	496	496
At 31 December 24	1,738	1,738
Net book value
At 31 December 24	1,987	1,987
At 31 December 23	2,483	2,483

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	9,352	234,603	72,673	316,628
Additions	-	-	20,037	20,037
At 31 December 24	9,352	234,603	92,710	336,665
Depreciation and impairment
At 01 January 24	4,773	67,590	30,510	102,873
Charge for year	1,834	33,402	15,193	50,429
At 31 December 24	6,607	100,992	45,703	153,302
Net book value
At 31 December 24	2,745	133,611	47,007	183,363
At 31 December 23	4,579	167,013	42,163	213,755

5.	Stocks

	2024	2023
	£	£
Work in progress	300,000	300,000
Other stocks	200,000	200,000
Total	500,000	500,000

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	1,658,635	1,674,978
Other debtors	254,920	147,413
Prepayments and accrued income	1,643	405
Total	1,915,198	1,822,796

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	771,570	1,161,930
Bank borrowings and overdrafts	1,213,469	236,228
Taxation and social security	406,598	211,807
Finance lease and HP contracts	36,201	30,975
Other creditors	258,587	1,067,367
Total	2,686,425	2,708,307


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	139,839	16,729
Other creditors	96,174	138,660
Total	236,013	155,389

9.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	132,375		169,635

10.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	46,337	41,021
Total	46,337	41,021

11.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
LANDLES, Garry James	33,419	106,695	69,451	70,663
POTTER, David	29,416	61,668	75,214	15,870
	62,835	168,363	144,665	86,533


	Balances on Directors Loan Accounts will be repaid within 9 months of the end of the financial period. Interest is charged on the loan balances at a commercial rate.

12.	Related party transactions
	As at 31st December 2024, the company is owed £44,201 to GKR Projects Ltd and £20,000 to GKR Energy, companies under the control of the Directors of GKR Facilities Services Ltd.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		1,987		2,483
Tangible assets	4		183,363		213,755
			185,350		216,238
Current assets
Stocks	5	500,000		500,000
Debtors	6	1,915,198		1,822,796
Cash at bank and on hand		461,971		719,395
		2,877,169		3,042,191
Creditors amounts falling due within one year	7	(2,686,425)		(2,708,307)
Net current assets (liabilities)			190,744		333,884
Total assets less current liabilities			376,094		550,122
Creditors amounts falling due after one year	8		(236,013)		(155,389)
Provisions for liabilities	10		(46,337)		(41,021)
Net assets			93,744		353,712
Capital and reserves
Called up share capital			153		135
Profit and loss account			93,591		353,577
Shareholders' funds			93,744		353,712