Gold Seal Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC137462 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 October 2018

for

Gold Seal Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J McNamee

Mrs I C McNamee

SECRETARY:

J McNamee

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

G32 8FH

REGISTERED NUMBER:

SC137462 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Tangible assets

4

98,353

104,461

CURRENT ASSETS

Debtors

5

6,314

10,222

Cash at bank

185,188

138,489

191,502

148,711

CREDITORS

Amounts falling due within one year

6

70,579

57,968

NET CURRENT ASSETS

120,923

90,743

TOTAL ASSETS LESS CURRENT LIABILITIES

219,276

195,204

PROVISIONS FOR LIABILITIES

17,244

17,707

NET ASSETS

202,032

177,497

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

201,932

177,397

SHAREHOLDERS' FUNDS

202,032

177,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 20 March 2019 and were signed on its behalf by:

J McNamee - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on cost

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 November 2017

349,033

45,088

90,801

484,922

Additions

-

11,319

15,000

26,319

Disposals

-

-

(13,191

)

(13,191

)

At 31 October 2018

349,033

56,407

92,610

498,050

DEPRECIATION

At 1 November 2017

281,906

33,362

65,193

380,461

Charge for year

10,069

9,869

12,489

32,427

Eliminated on disposal

-

-

(13,191

)

(13,191

)

At 31 October 2018

291,975

43,231

64,491

399,697

NET BOOK VALUE

At 31 October 2018

57,058

13,176

28,119

98,353

At 31 October 2017

67,127

11,726

25,608

104,461

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

-

3,360

Other debtors

2,414

2,414

VAT

-

884

Prepayments

3,900

3,564

6,314

10,222

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Amounts owed to group undertakings

40,752

39,600

Tax

17,384

13,271

Social security and other taxes

4

-

VAT

8,486

-

Directors' current accounts

824

1,968

Accruals and deferred income

3,129

3,129

70,579

57,968

7.	RELATED PARTY DISCLOSURES

The company trades with Gold Seal Home Care Limited, a company which has the same director as Gold Seal

Holdings Limited. During the year the company provided services to Gold Seal Home Care Limited with a value

of £182,000 (2017: £149,833).

At 31st October 2017, Gold Seal Holdings Ltd owes £40,752 (2017: £39,600) to Gold Seal Home Care Ltd.

The dividends paid in the current financial year were paid to the directors of the company.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J McNamee.