ACCOUNTS - Final Accounts preparation

Registered number: SC700196

GILLON MAD DRIVERS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

GILLON MAD DRIVERS LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GILLON MAD DRIVERS LTD
FOR THE YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gillon Mad Drivers Ltd for the year ended 31 March 2025 which comprise the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Gillon Mad Drivers Ltd in accordance with the terms of our engagement letter dated 21 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Gillon Mad Drivers Ltd and state those matters that we have agreed to state to the director of Gillon Mad Drivers Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gillon Mad Drivers Ltd and its director for our work or for this report.

It is your duty to ensure that Gillon Mad Drivers Ltd 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 Gillon Mad Drivers Ltd. You consider that Gillon Mad Drivers Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Gillon Mad Drivers Ltd. 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.

MHA

Chartered Accountants

6 St Colme Street

Edinburgh

EH3 6AD

13 December 2025

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GILLON MAD DRIVERS LTD

REGISTERED NUMBER: SC700196

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	3		161,326		90,921
			161,326		90,921
Current assets
Debtors		1,660		-
Cash at bank and in hand		8,574		4,135
		10,234		4,135
Creditors: amounts falling due within one year	4	(7,193)		(7,190)
Net current assets/(liabilities)			3,041		(3,055)
Total assets less current liabilities			164,367		87,866

Net assets			164,367		87,866

Capital and reserves
Called up share capital	5	100	100
Profit and loss account		164,267	87,766
		164,367	87,866

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 December 2025.

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GILLON MAD DRIVERS LTD

REGISTERED NUMBER: SC700196

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

Stuart Mclean

Director

The notes on pages 4 to 7 form part of these financial statements.

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GILLON MAD DRIVERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Company information

Gillon Mad Drivers Limited is a private company limited by shares incorporated in Scotland. The registered office is 6 St Colme Street, Edinburgh, EH3 6AD.

1.Accounting policies

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

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and
subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Page 4

GILLON MAD DRIVERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.4

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors with no stated interest rate and payable within one year are recorded at transaction price

Creditors with no stated interest rate are recorded at transaction price.

1.5

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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GILLON MAD DRIVERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including the director, during the year was as follows:

	2025	2024
	No.	No.

Total	1	1

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GILLON MAD DRIVERS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Fixed asset investments

	Listed investments	Unlisted investments	Other fixed asset investments	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	67,480	1	23,440	90,921
Additions	512	-	4,266	4,778
Revaluations	65,627	-	-	65,627
At 31 March 2025	133,619	1	27,706	161,326

4.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	7,193	7,190
	7,193	7,190

5.	Share capital
		2025	2024
		£	£

Ordinary share capital issued and fully paid

52 Ordinary Class 1 shares of £1.00 each	52	52
23 Ordinary Class 2 shares of £1.00 each	23	23
23 Ordinary Class 3 shares of £1.00 each	23	23
1 Ordinary Class 4 share of £1.00	1	1
1 Ordinary Class 5 share of £1.00	1	1

	100	100

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