Glasgow Residential Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC433943 (Scotland)

Unaudited Financial Statements

For The Period 1 November 2021 to 29 October 2022

for

Glasgow Residential Investments Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T E Lovat

R J Lovat

SECRETARY:

R J Lovat

REGISTERED OFFICE:

1008 Pollokshaws Road

Glasgow

G41 2HG

REGISTERED NUMBER:

SC433943 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

CURRENT ASSETS

Debtors

162,805

109,102

Cash at bank and in hand

2,986

3,132

165,791

112,234

CREDITORS

Amounts falling due within one year

127,417

78,397

NET CURRENT ASSETS

38,374

33,837

TOTAL ASSETS LESS CURRENT LIABILITIES

38,374

33,837

CREDITORS

Amounts falling due after more than one year

16,698

17,985

NET ASSETS

21,676

15,852

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

21,577

15,753

21,676

15,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 October 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the period ended 29 October 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:

R J Lovat - Director

1.	STATUTORY INFORMATION

Glasgow Residential Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2021

and 29 October 2022

2,150

DEPRECIATION

At 1 November 2021

and 29 October 2022

2,150

NET BOOK VALUE

At 29 October 2022

-

At 31 October 2021

-

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 29 October 2022 and the year ended 31 October 2021:

2022

2021

£

£

T E Lovat

Balance outstanding at start of period

10,000

10,000

Amounts advanced

24,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

34,000

10,000

R J Lovat

Balance outstanding at start of period

73,615

73,615

Amounts advanced

73,500

-

Amounts repaid

(85,188

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

61,927

73,615