GILHOL LTD - Filleted accounts

Registered number

SC522366

GILHOL LTD

Filleted Accounts

31 December 2025

GILHOL LTD
Registered number:		SC522366
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		462,920			462,920

Current assets
Cash at bank and in hand		1,319			446

Creditors: amounts falling due within one year	4	(264,072)			(232,385)

Net current liabilities			(262,753)			(231,939)

Total assets less current liabilities			200,167			230,981

Creditors: amounts falling due after more than one year	5		-			(43,635)



Net assets			200,167			187,346

Capital and reserves
Called up share capital			100			100
Profit and loss account			200,067			187,246

Shareholders' funds			200,167			187,346

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Joseph Holland
Director
Approved by the board on 10 September 2026

GILHOL LTD
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Land and buildings
£
	Cost
	At 1 January 2025				462,920
	At 31 December 2025				462,920

	Depreciation
	At 31 December 2025				-

	Net book value
	At 31 December 2025				462,920
	At 31 December 2024				462,920

	The property was valued on 24 May 2016 at the date of aquisition at the value of £462,920. The Directors have been informed that there has been no change in the value of the Land & Buildings in the year to 31 December 2025.


4	Creditors: amounts falling due within one year		2025		2024
£				£

	Bank loans and overdrafts		37,036		34,552
	Taxation and social security costs		3,007		3,589
	Other creditors		224,029		194,244
			264,072		232,385
6	Directors loan account

	Including in other creditors is the sum of £73,785 (£ 73785 - 2024)
	for Directors loan accounts which will be repayable upon demand.





5	Creditors: amounts falling due after one year		2025		2024
£				£

	Bank loans		-		43,635


6	Loans		2025		2024
£				£
	Creditors include:

	Secured bank loans		37,036		78,187

	The bank loan from The Bank of Scotland is secured by a Floating Charge covering all property or undertaking by the company.


7	Related party transactions

	Included in other creditors is the sum of £45367 (2024 £30487) which is due to Ian Glimour Transport Limited which is a connected company by Director and Shareholder, and £103902 (2024 £89022) which is due to J & W Holland (Haulage) LLP which is connected by Mr Joe Holland as a Director and Partner. The transactions made were on a strictly business basis and the amount due are repayable on commercial terms.


8	Other information

	GILHOL LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
	2 Nickel Cottages
	Southbank Road
	Kirkintilloch
	East Dunbartonshire
	G66 1UB