Gold Seal Holdings Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: SC137462 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 October 2022

for

Gold Seal Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

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

87,950

73,821

Investments

5

100,000

100,000

187,950

173,821

CURRENT ASSETS

Debtors

6

3,795

3,083

Cash at bank

135,399

153,638

139,194

156,721

CREDITORS

Amounts falling due within one year

7

51,338

51,092

NET CURRENT ASSETS

87,856

105,629

TOTAL ASSETS LESS CURRENT LIABILITIES

275,806

279,450

PROVISIONS FOR LIABILITIES

8

16,768

13,875

NET ASSETS

259,038

265,575

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

258,938

265,475

SHAREHOLDERS' FUNDS

259,038

265,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 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 Board of Directors and authorised for issue on 7 July 2023 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 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.

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

Motor vehicles

-

20% on cost

Computer equipment

-

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 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2021

349,033

94,600

67,346

510,979

Additions

-

45,319

1,867

47,186

Disposals

(17,388

)

-

-

(17,388

)

At 31 October 2022

331,645

139,919

69,213

540,777

DEPRECIATION

At 1 November 2021

313,993

65,015

58,150

437,158

Charge for year

5,087

21,992

4,855

31,934

Eliminated on disposal

(16,265

)

-

-

(16,265

)

At 31 October 2022

302,815

87,007

63,005

452,827

NET BOOK VALUE

At 31 October 2022

28,830

52,912

6,208

87,950

At 31 October 2021

35,040

29,585

9,196

73,821

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2021

and 31 October 2022

100,000

NET BOOK VALUE

At 31 October 2022

100,000

At 31 October 2021

100,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Other debtors

3,795

3,083

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Taxation and social security

14,327

42,571

Other creditors

37,011

8,521

51,338

51,092

8.	PROVISIONS FOR LIABILITIES

31.10.22

31.10.21

£

£

Deferred tax

16,768

13,875

Deferred

tax

£

Balance at 1 November 2021

13,875

Provided during year

2,893

Balance at 31 October 2022

16,768

9.	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 (2021: £257,000).

At 31st October 2022, Gold Seal Home Care Ltd owes £130 (2021: £130l) to Gold Seal Holdings Ltd.

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

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gold Seal Holdings Limited for the year ended 31 October 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Gold Seal Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gold Seal Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Gold Seal Holdings Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gold Seal Holdings Limited 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 Gold Seal Holdings Limited. You consider that Gold Seal Holdings Limited 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 Gold Seal Holdings Limited. 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.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

7 July 2023