Glencoe Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC275144 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 31 MARCH 2023

FOR

GLENCOE DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D J Kirkham

REGISTERED OFFICE:

Skipper's Cottage

Salen

ACHARACLE

Argyll

PH36 4JN

REGISTERED NUMBER:

SC275144 (Scotland)

ACCOUNTANTS:

Andy Newiss & Co Ltd

Broombank

North Connel

Oban

Argyll

PA37 1RD

FIXED ASSETS

Tangible assets

4

856

-

Investments

5

26,921

-

27,777

-

CURRENT ASSETS

Stocks

98,391

98,100

Debtors

6

1,046

291

Cash at bank

694

289

100,131

98,680

CREDITORS

Amounts falling due within one year

7

123,163

88,826

NET CURRENT (LIABILITIES)/ASSETS

(23,032

)

9,854

TOTAL ASSETS LESS CURRENT LIABILITIES

4,745

9,854

CAPITAL AND RESERVES

Called up share capital

10,004

10,004

Share premium

20,000

20,000

Retained earnings

(25,259

)

(20,150

)

4,745

9,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 18 December 2023 and were signed by:

D J Kirkham - Director

1.	STATUTORY INFORMATION

Glencoe Developments 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

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

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,695

At 31 March 2023

1,695

DEPRECIATION

Charge for period

839

At 31 March 2023

839

NET BOOK VALUE

At 31 March 2023

856

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

26,921

At 31 March 2023

26,921

NET BOOK VALUE

At 31 March 2023

26,921

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2021

£

£

Trade debtors

291

-

Other debtors

755

291

1,046

291

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2021

£

£

Amounts owed to group undertakings

69,886

-

Other creditors

53,277

88,826

123,163

88,826

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2021

£

£

Directors current account

52,677

50,300

The Director, David Kirkham, holds a standard security over the land owned by the company and a bond and floating charge over the whole assets of the company for all sums due to him.