Gerard McGowan Ophthalmic Consultants Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC543653

Gerard McGowan Ophthalmic Consultants Ltd

Filleted Unaudited Financial Statements

31 August 2025

Gerard McGowan Ophthalmic Consultants Ltd

Financial Statements

Year ended 31 August 2025

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Gerard McGowan Ophthalmic Consultants Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Gerard McGowan Ophthalmic Consultants Ltd

Year ended 31 August 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 Gerard McGowan Ophthalmic Consultants Ltd for the year ended 31 August 2025, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Gerard McGowan Ophthalmic Consultants Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Gerard McGowan Ophthalmic Consultants Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gerard McGowan Ophthalmic Consultants Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gerard McGowan Ophthalmic Consultants 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 Gerard McGowan Ophthalmic Consultants Ltd. You consider that Gerard McGowan Ophthalmic Consultants Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Gerard McGowan Ophthalmic Consultants 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.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

21 August 2026

Gerard McGowan Ophthalmic Consultants Ltd

Statement of Financial Position

31 August 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		4,467	2,776

Current assets

Debtors	7	609,400	307,817
Cash at bank and in hand		89,141	232,786
		---------	---------
		698,541	540,603

Creditors: amounts falling due within one year	8	249,888		216,720
		---------		---------
Net current assets			448,653	323,883
			---------	---------
Total assets less current liabilities			453,120	326,659
			---------	---------
Net assets			453,120	326,659
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	453,020	326,559
	---------	---------
Shareholders funds	453,120	326,659
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 21 August 2026 , and are signed on behalf of the board by:

Dr G F McGowan

Director

Company registration number: SC543653

Gerard McGowan Ophthalmic Consultants Ltd

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G22PQ, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	3 Years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 September 2024 and 31 August 2025	12,000
	--------
Amortisation
At 1 September 2024 and 31 August 2025	12,000
	--------
Carrying amount
At 31 August 2025	–
	--------
At 31 August 2024	–
	--------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 September 2024	8,648	8,648
Additions	2,690	2,690
	--------	--------
At 31 August 2025	11,338	11,338
	--------	--------
Depreciation
At 1 September 2024	5,872	5,872
Charge for the year	999	999
	--------	--------
At 31 August 2025	6,871	6,871
	--------	--------
Carrying amount
At 31 August 2025	4,467	4,467
	--------	--------
At 31 August 2024	2,776	2,776
	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	59,363	40,541
Amounts owed by group undertakings and undertakings in which the company has a participating interest	457,627	214,340
Other debtors	92,410	52,936
	---------	---------
	609,400	307,817
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	245,840	214,353
Social security and other taxes	66	27
Other creditors	3,982	2,340
	---------	---------
	249,888	216,720
	---------	---------

9. Holding company

On the 23rd July 2021 the shares in the company were transferred to Emod Investments Limited and the company is now a wholly owned subsidiary of that company. Emod Investments Limited is controlled by Mr and Mrs McGowan.

10. Directors' advances, credits and guarantees

As at 31 August 2025 Dr G F McGowan , a director, owed the company £90,148 (2024: £48,412). Interest has been calculated on this loan and has no fixed date for repayment.

11. Related party transactions

Included in debtors there is a balance owed from the parent company, EMOD Investments Limited, for £457,627 (2024: £214,340).