GLENLOMOND_LIMITED - Accounts

GLENLOMOND LIMITED - Company Information

Print Friendly Version

Company Registration No. SC077424 (Scotland)

GLENLOMOND LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

GLENLOMOND LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

GLENLOMOND LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

64,010

Current assets

Debtors

1,638

1,995

Cash at bank and in hand

31,445

43,279

33,083

45,274

Creditors: amounts falling due within one year

(2,208)

(122)

Net current assets

30,875

45,152

Total assets less current liabilities

94,885

109,162

Capital and reserves

Called up share capital

1,000

Profit and loss account

93,885

108,162

Shareholders' funds

94,885

109,162

For the financial year ended 30 November 2013 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 August 2014

C G Carver

Director

Company Registration No. SC077424

GLENLOMOND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold property

1% on cost

Improvements to property

10% on cost

Computer equipment

33% on reducing balance

Fixtures, fittings & equipment

10% on cost

1.4

Deferred taxation

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.

Fixed assets

Tangible assets

Cost

At 1 December 2012 & at 30 November 2013

121,365

Depreciation

At 1 December 2012 & at 30 November 2013

57,355

Net book value

At 30 November 2013

64,010

At 30 November 2012

64,010

Share capital

2013

2012

Allotted, called up and fully paid

1,000 ordinary shares of £1 each

1,000