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REGISTERED NUMBER: SC212794 (Scotland)

| Gordon Davidson Modern Art Limited |

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| Gordon Davidson Modern Art Limited (Registered number: SC212794) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Gordon Davidson Modern Art Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | G Davidson

| SECRETARY: | L Lyons

| REGISTERED OFFICE: | 9 Ainslie Place

| Edinburgh

| EH3 6AT

| REGISTERED NUMBER: | SC212794 (Scotland)

| ACCOUNTANTS: | Whitelaw Wells

| 9 Ainslie Place

| Edinburgh

| Midlothian

| EH3 6AT

| BANKERS: | The Royal Bank of Scotland

| 239 St John's Road

| Edinburgh

| EH12 7XA

| Gordon Davidson Modern Art Limited (Registered number: SC212794) |

Balance Sheet

31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 6,503 |  | 6,503 |  |

Cash at bank | 5 |  | 5 |  |

6,508 |  | 6,508 |  |

CREDITORS

Amounts falling due within one year | 4 | 51,357 |  | 46,204 |  |

NET CURRENT LIABILITIES | (44,849 | ) | (39,696 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (44,849 | ) | (39,696 | ) |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Retained earnings | (44,851 | ) | (39,698 | ) |

SHAREHOLDERS' FUNDS | (44,849 | ) | (39,696 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year 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.

| Gordon Davidson Modern Art Limited (Registered number: SC212794) |

Balance Sheet - continued

31 March 2025

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2026 and were signed by:

G Davidson - Director

| Gordon Davidson Modern Art Limited (Registered number: SC212794) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Gordon Davidson Modern Art Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All loans with related parties are all repayable on demand.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Gordon Davidson Modern Art Limited (Registered number: SC212794) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The accounts have been prepared on a going concern basis, which assumes that the company will continue to trade for the foreseeable future. In order to do so the company will require the continued support of its director. The director will continue to support the company and is confident of the continued support of the bank and other creditors.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 2 ) .

4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 214 |  |

| Amounts owed to participating interests | 3,670 |  | 567 |  |

| Other creditors | 47,687 |  | 45,423 |  |

51,357 |  | 46,204 |  |

| Included within other creditors is the director's loan account which is interest free, unsecured and repayable on demand.

5. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 620 |  | 363 |  |