diff --git a/.github/workflows/main.yml b/.github/workflows/main.yml
index 536578a..ecd4766 100644
--- a/.github/workflows/main.yml
+++ b/.github/workflows/main.yml
@@ -14,11 +14,11 @@ jobs:
     strategy:
       matrix:
         ruby:
-          - "3.1.4"
-          - "3.2.2"
+          - "3.2.5"
+          - "3.3.4"
 
     steps:
-      - uses: actions/checkout@v3
+      - uses: actions/checkout@v4
       - name: Set up Ruby
         uses: ruby/setup-ruby@v1
         with:
diff --git a/.rubocop.yml b/.rubocop.yml
index 9d82925..2c5e6bf 100644
--- a/.rubocop.yml
+++ b/.rubocop.yml
@@ -4,7 +4,7 @@ require:
 
 AllCops:
   NewCops: enable
-  TargetRubyVersion: 3.1
+  TargetRubyVersion: 3.2
 
 Style/StringLiterals:
   Enabled: true
diff --git a/.ruby-version b/.ruby-version
deleted file mode 100644
index 0aec50e..0000000
--- a/.ruby-version
+++ /dev/null
@@ -1 +0,0 @@
-3.1.4
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4a2ecf7..cbf956e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 ## [Unreleased]
 
+## [1.0.0] - 2024-07-29
+
+- Changed: Bumped the dependency gems to their latest version.
+- BREAKING CHANGE: Removed support for Ruby versions `3.1.x`.
+
 ## [0.1.8] - 2023-12-30
 
 - Changed: Bumped the dependency gems to their latest version.
diff --git a/Gemfile.lock b/Gemfile.lock
index 8bc7c81..d2a544b 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,49 +1,52 @@
 PATH
   remote: .
   specs:
-    bump_gem_version (0.1.8)
+    bump_gem_version (1.0.0)
       thor (~> 1.3)
 
 GEM
   remote: https://rubygems.org/
   specs:
     ast (2.4.2)
-    json (2.7.1)
+    json (2.7.2)
     language_server-protocol (3.17.0.3)
-    minitest (5.20.0)
-    parallel (1.24.0)
-    parser (3.2.2.4)
+    minitest (5.24.1)
+    parallel (1.25.1)
+    parser (3.3.4.0)
       ast (~> 2.4.1)
       racc
-    racc (1.7.3)
+    racc (1.8.0)
     rainbow (3.1.1)
-    rake (13.1.0)
-    regexp_parser (2.8.3)
-    rexml (3.2.6)
-    rubocop (1.59.0)
+    rake (13.2.1)
+    regexp_parser (2.9.2)
+    rexml (3.3.2)
+      strscan
+    rubocop (1.65.0)
       json (~> 2.3)
       language_server-protocol (>= 3.17.0)
       parallel (~> 1.10)
-      parser (>= 3.2.2.4)
+      parser (>= 3.3.0.2)
       rainbow (>= 2.2.2, < 4.0)
-      regexp_parser (>= 1.8, < 3.0)
+      regexp_parser (>= 2.4, < 3.0)
       rexml (>= 3.2.5, < 4.0)
-      rubocop-ast (>= 1.30.0, < 2.0)
+      rubocop-ast (>= 1.31.1, < 2.0)
       ruby-progressbar (~> 1.7)
       unicode-display_width (>= 2.4.0, < 3.0)
-    rubocop-ast (1.30.0)
-      parser (>= 3.2.1.0)
-    rubocop-minitest (0.34.2)
-      rubocop (>= 1.39, < 2.0)
-      rubocop-ast (>= 1.30.0, < 2.0)
+    rubocop-ast (1.31.3)
+      parser (>= 3.3.1.0)
+    rubocop-minitest (0.35.1)
+      rubocop (>= 1.61, < 2.0)
+      rubocop-ast (>= 1.31.1, < 2.0)
     rubocop-rake (0.6.0)
       rubocop (~> 1.0)
     ruby-progressbar (1.13.0)
-    thor (1.3.0)
+    strscan (3.1.0)
+    thor (1.3.1)
     unicode-display_width (2.5.0)
 
 PLATFORMS
   arm64-darwin-21
+  arm64-darwin-23
   x86_64-linux
 
 DEPENDENCIES
@@ -55,4 +58,4 @@ DEPENDENCIES
   rubocop-rake
 
 BUNDLED WITH
-   2.5.3
+   2.5.16
diff --git a/bump_gem_version.gemspec b/bump_gem_version.gemspec
index 2dce748..4824c50 100644
--- a/bump_gem_version.gemspec
+++ b/bump_gem_version.gemspec
@@ -11,7 +11,7 @@ Gem::Specification.new do |spec|
   spec.summary = "BumpGemVersion is a gem that will simplify the way you build gems."
   spec.homepage = "https://rubygems.org/gems/bump_gem_version"
   spec.license = "MIT"
-  spec.required_ruby_version = ">= 3.1"
+  spec.required_ruby_version = ">= 3.2"
 
   spec.metadata["homepage_uri"] = spec.homepage
   spec.metadata["source_code_uri"] = "https://github.com/thejus-paul/bump_gem_version"
@@ -27,5 +27,5 @@ Gem::Specification.new do |spec|
   spec.executables = spec.files.grep(%r{\Aexe/}) { |f| File.basename(f) }
   spec.require_paths = ["lib"]
 
-  spec.add_runtime_dependency "thor", "~> 1.3"
+  spec.add_dependency "thor", "~> 1.3"
 end
diff --git a/lib/bump_gem_version/version.rb b/lib/bump_gem_version/version.rb
index a3a20f1..ec1e138 100644
--- a/lib/bump_gem_version/version.rb
+++ b/lib/bump_gem_version/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module BumpGemVersion
-  VERSION = "0.1.8"
+  VERSION = "1.0.0"
 end
diff --git a/test/dummy/Gemfile.lock b/test/dummy/Gemfile.lock
index 3dcc0ee..d20b474 100644
--- a/test/dummy/Gemfile.lock
+++ b/test/dummy/Gemfile.lock
@@ -33,6 +33,7 @@ GEM
 
 PLATFORMS
   arm64-darwin-21
+  arm64-darwin-23
 
 DEPENDENCIES
   dummy!
diff --git a/test/dummy/dummy.gemspec b/test/dummy/dummy.gemspec
index 26b1674..e2b34d7 100644
--- a/test/dummy/dummy.gemspec
+++ b/test/dummy/dummy.gemspec
@@ -12,7 +12,7 @@ Gem::Specification.new do |spec|
   spec.description = "Write a longer description or delete this line."
   spec.homepage = "https://example.com"
   spec.license = "MIT"
-  spec.required_ruby_version = ">= 3.1.0"
+  spec.required_ruby_version = ">= 3.2"
 
   spec.metadata["allowed_push_host"] = "Set to your gem server 'https://example.com'"