Silverfin false false 30/06/2025 01/07/2024 30/06/2025 C Grier 18/03/2025 09/12/2019 M Grier 09/12/2019 S Grier 14/03/2017 29 January 2026 The principal activities of the company during the reporting period were that of the hire and sale of vehicles. SC560389 2025-06-30 SC560389 bus:Director1 2025-06-30 SC560389 bus:Director2 2025-06-30 SC560389 bus:Director3 2025-06-30 SC560389 2024-06-30 SC560389 core:CurrentFinancialInstruments 2025-06-30 SC560389 core:CurrentFinancialInstruments 2024-06-30 SC560389 core:Non-currentFinancialInstruments 2025-06-30 SC560389 core:Non-currentFinancialInstruments 2024-06-30 SC560389 core:ShareCapital 2025-06-30 SC560389 core:ShareCapital 2024-06-30 SC560389 core:RetainedEarningsAccumulatedLosses 2025-06-30 SC560389 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC560389 core:OtherPropertyPlantEquipment 2024-06-30 SC560389 core:OtherPropertyPlantEquipment 2025-06-30 SC560389 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2025-06-30 SC560389 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-06-30 SC560389 bus:OrdinaryShareClass1 2025-06-30 SC560389 2024-07-01 2025-06-30 SC560389 bus:FilletedAccounts 2024-07-01 2025-06-30 SC560389 bus:SmallEntities 2024-07-01 2025-06-30 SC560389 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 SC560389 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC560389 bus:Director1 2024-07-01 2025-06-30 SC560389 bus:Director2 2024-07-01 2025-06-30 SC560389 bus:Director3 2024-07-01 2025-06-30 SC560389 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-07-01 2025-06-30 SC560389 2023-07-01 2024-06-30 SC560389 core:OtherPropertyPlantEquipment 2024-07-01 2025-06-30 SC560389 core:CurrentFinancialInstruments 2024-07-01 2025-06-30 SC560389 core:Non-currentFinancialInstruments 2024-07-01 2025-06-30 SC560389 bus:OrdinaryShareClass1 2024-07-01 2025-06-30 SC560389 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC560389 (Scotland)

# GMG FLEET LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH THE REGISTRAR

GMG FLEET LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

Contents

GMG FLEET LIMITED

## BALANCE SHEET

AS AT 30 JUNE 2025
GMG FLEET LIMITED

## BALANCE SHEET (continued)

AS AT 30 JUNE 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 2,218,127 |  | 2,416,027
|  | 2,218,127 |  | 2,416,027
Current assets |  |  |  |
Debtors | 4 | 342,539 |  | 1,226,297
Cash at bank and in hand |  | 327,191 |  | 78,297
|  | 669,730 |  | 1,304,594
Creditors: amounts falling due within one year | 5 | ( 508,881) |  | ( 791,648)
Net current assets |  | 160,849 |  | 512,946
Total assets less current liabilities |  | 2,378,976 |  | 2,928,973
Creditors: amounts falling due after more than one year | 6 | ( 1,076,137) |  | ( 802,390)
Provision for liabilities |  | ( 70,441) |  | ( 189,931)
Net assets |  | 1,232,398 |  | 1,936,652
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | 1,232,298 |  | 1,936,552
Total shareholder's funds |  | 1,232,398 |  | 1,936,652

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of GMG Fleet Limited (registered number: SC560389) were approved and authorised for issue by the Board of Directors on 29 January 2026. They were signed on its behalf by:

M Grier Director |

GMG FLEET LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
GMG FLEET LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

GMG Fleet Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Eastcroft House 25 Woodhall Road, Cambusnethan, Wishaw, ML2 8PY, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover includes amounts receivable for the hire of motor vehicles and is recognised on a straight line basis over the hire period.
Turnover also includes amounts receivable in respect of vehicles and other assets sold. Vehicle sales are recognised when the risk and rewards of ownership pass to the buyer.
All amounts are recognised at the fair value of the consideration, net of VAT and other sales related taxes.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed asset at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Leases are classified as hire purchase contracts whenever the terms of the hire purchase transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under hire purchase are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a hire purchase obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, loans from connected companies, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 July 2024 | 3,095,131 |  | 3,095,131
Additions | 3,694,881 |  | 3,694,881
Disposals | ( 3,453,235) |  | ( 3,453,235)
At 30 June 2025 | 3,336,777 |  | 3,336,777
Accumulated depreciation |  |  |
At 01 July 2024 | 679,104 |  | 679,104
Charge for the financial year | 826,232 |  | 826,232
Impairment losses | 172,000 |  | 172,000
Disposals | ( 558,686) |  | ( 558,686)
At 30 June 2025 | 1,118,650 |  | 1,118,650
Net book value |  |  |
At 30 June 2025 | 2,218,127 |  | 2,218,127
At 30 June 2024 | 2,416,027 |  | 2,416,027

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 342,539 |  | 636,226
Amounts owed by connected companies | 0 |  | 450,000
Corporation tax | 0 |  | 51,605
Other debtors | 0 |  | 88,466
| 342,539 |  | 1,226,297

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 12,679 |  | 317,845
Taxation and social security | 134,748 |  | 0
Obligations under finance leases and hire purchase contracts (secured) | 361,454 |  | 467,052
Other creditors | 0 |  | 6,751
| 508,881 |  | 791,648

Amounts of £361,454 (2024: £467,052) relating to assets acquired on hire purchase are secured over the assets to which they relate.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts (secured) | 1,076,137 |  | 802,390

Amounts of £1,076,137 (2024: £802,390) relating to assets acquired on hire purchase are secured over the assets to which they relate.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 8. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed by connected companies | 0 |  | 450,000

#### 9. Ultimate controlling party

Parent Company:

GMG Holdings Scotland Limited
25 Woodhall Road, Wishaw, Scotland, ML2 8PY