Company registration number SC553283 (Scotland)
GMD WESTHILL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
GMD WESTHILL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GMD WESTHILL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
2,972,715
2,854,930
Cash at bank and in hand
158,023
206,346
3,130,738
3,061,276
Creditors: amounts falling due within one year
4
(1,637,599)
(1,654,362)
Net current assets
1,493,139
1,406,914
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
1,493,136
1,406,911
Total equity
1,493,139
1,406,914

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 November 2025 and are signed on its behalf by:
M W MILNE
M W Milne
Director
Company Registration No. SC553283
GMD WESTHILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

GMD Westhill Limited is a private company limited by shares incorporated in Scotland. The registered office is 12 Earlspark Avenue, Bieldside, Aberdeen, AB15 9BU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. true

As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

1.3
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GMD WESTHILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5

Interest Income

Interest income is recognised in the Statement of C omprehensive I ncome using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
225,383
625,383
Prepayments and accrued income
1,228,332
1,110,547
1,453,715
1,735,930
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
1,519,000
1,119,000
Total debtors
2,972,715
2,854,930
GMD WESTHILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
4
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
28,719
45,702
Other creditors
1,606,230
1,606,230
Accruals and deferred income
2,650
2,430
1,637,599
1,654,362
5
Related party transactions

During the year, the company made no advances to a director. No c redits were received, which resulted in amounts due to the director at the year end of £535,410 (2024 - £535,410).

During the year, the company made no advances to a director. No c redits were received, which resulted in amounts due to the director at the year end of £535,410 (2024 - £535,410).

During the year, the company made no advances to a director. No c redits were received, which resulted in amounts due to the director at the year end of £535,410 (2024 - £535,410).

During the year, the company made no advances to a company under common control. No credits were received, which resulted in amounts due to the company at the year end of £225,380 (2024 - £225,380).

The loans are unsecured and interest free with no fixed repayment terms in place.

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