GLD Brands Limited iXBRL

Company Registration Number: SC524454

GLD Brands Limited

Unaudited Financial Statements

for the financial period ended 31 December 2024

GLD Brands Limited

DIRECTOR AND OTHER INFORMATION


Directors	Mr Federico Trono (Appointed 14 January 2025)
	Ms Kirsten Margaret Ryan (Resigned 14 January 2025)
	Mr Ewan Charles Scott (Resigned 14 January 2025)


Company Registration Number	SC524454


Registered Office and Business Address	Yard Road
	Blairgowrie
	Scotland
	PH10 6NW
	United Kingdom


Accountants	Quarter
	Chartered Accountants
	St.Annes House
	Cathedral Quarter
	15 Church Street
	Antrim
	BT1 1PG

GLD Brands Limited

Company Registration Number: SC524454

STATEMENT OF FINANCIAL POSITION

as at 31 December 2024

Dec 24

Jan 24

Notes

Current Assets

Debtors

636,653

68,124

Cash and cash equivalents

56,440

2,451

─────────

693,093

70,575

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Creditors: amounts falling due within one year

(596,133)

(70,571)

─────────

Net Current Assets

96,960

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Total Assets less Current Liabilities

96,960

═════════

Capital and Reserves

Called up share capital

Retained earnings

96,956

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Equity attributable to owners of the company

96,960

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Director and authorised for issue on 18 December 2025



________________________________
Mr Federico Trono
Director

GLD Brands Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial period ended 31 December 2024

General Information

GLD Brands Limited is a company limited by shares incorporated and registered in the Scotland. The registered number of the company is SC524454. The registered office of the company is Yard Road, Blairgowrie, Scotland, PH10 6NW, United Kingdom which is also the principal place of business of the company. The Principal activity is that of retail sale of textiles in specialised stores. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial period ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Period of financial statements

The financial statements are for the 11 month period ended 31 December 2024.

The comparative figures relate to the 12 month period ended 31 January 2024.

Employees

The average monthly number of employees, including director, during the financial period was 2, (Jan 24 - 2).

Dec 24

Jan 24

Number

Number

Director

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5.	Debtors	Dec 24	Jan 24
		£	£

	Trade debtors	478,655	54,529
	Amounts owed by connected parties (Note 9)	-	12,674
	Taxation (Note 7)	94,129	921
	Prepayments and accrued income	63,869	-
		─────────	─────────
		636,653	68,124
		═════════	═════════


6.	Creditors	Dec 24	Jan 24
	Amounts falling due within one year	£	£

	Trade creditors	473,908	(1,387)
	Amounts owed to connected parties (Note 9)	62,277	-
	Taxation (Note 7)	32,319	-
	Other creditors	27,629	71,958
		─────────	─────────
		596,133	70,571
		═════════	═════════


7.	Taxation	Dec 24	Jan 24
		£	£

	Debtors:
	VAT	94,129	921
		═════════	═════════
	Creditors:
	Corporation tax	32,319	-
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial period-ended 31 December 2024.

Related party transactions

Balance

Movement

Balance

Maximum

Dec 24

in period

Jan 24

in period

Basic Italia Spa

(12,674)

12,674

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The following amounts are due to other connected parties:

Dec 24

Jan 24

Basic Italia Spa

62,277

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Net balances with other connected parties:

Dec 24

Jan 24

Basic Italia Spa

(62,277)

12,674

═════════

GLD Brands Limited holds an agreement with Basic Italia Spa. The agreement is for the joint operation of the store in London. Under this agreement, any profits and losses incurred by the store are underwritten in full by Basic Italia Spa. Profits underwritten in the period under the contract amounted to £129,275, (YE 31.01.2024 Loss £3,211). At period end on 31st December 2024, the total amount due to Basic Italia Spa was £62,277 and included within creditors.

10.

Parent company

The company regards Ardblair Sports Importers Limited as its parent company.

11.

Events After the End of the Reporting Period

Ardblair Sports Importers Limited; the parent company, disposed of GLD Brands Limited post year end.