Glenisle of Scotland Limited - Abbreviated accounts 16.1

Glenisle of Scotland Limited - Abbreviated accounts 16.1

GLENISLE OF SCOTLAND LIMITED - Company Information

Print Friendly Version

SC086983 6.10.14 5.10.15 5.10.15 Company accounts Private Limited Company FY true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC0869832014-10-05SC0869832015-10-05SC0869832014-10-062015-10-05SC0869832013-10-05SC0869832013-10-062014-10-05SC0869832014-10-05SC086983ns14:PoundSterling2014-10-062015-10-05SC086983ns7:Director12014-10-062015-10-05SC086983ns7:OrdinaryShareClass12014-10-062015-10-05SC086983ns5:InvestmentProperties2015-10-05SC086983ns5:InvestmentProperties2014-10-05SC086983ns5:FixedAssetInvestmentsOtherThanLoans2015-10-05SC086983ns5:FixedAssetInvestmentsOtherThanLoans2014-10-05SC086983ns5:InvestmentProperties2014-10-05SC086983ns5:InvestmentProperties2014-10-062015-10-05SC086983ns7:OrdinaryShareClass12015-10-05SC086983ns7:OrdinaryShareClass12014-10-05
REGISTERED NUMBER: SC086983















GLENISLE OF SCOTLAND LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 5 OCTOBER 2015






GLENISLE OF SCOTLAND LIMITED (REGISTERED NUMBER: SC086983)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 5 OCTOBER 2015




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

GLENISLE OF SCOTLAND LIMITED (REGISTERED NUMBER: SC086983)

ABBREVIATED BALANCE SHEET
5 OCTOBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Investments 2 1,017,284 967,820
Investment property 3 - 172,842
1,017,284 1,140,662

CURRENT ASSETS
Debtors - 4,748
Cash at bank 8,873 28,956
8,873 33,704
CREDITORS
Amounts falling due within one year 10,545 54,408
NET CURRENT LIABILITIES (1,672 ) (20,704 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,015,612
1,119,958

CAPITAL AND RESERVES
Called up share capital 4 78,002 78,002
Profit and loss account 937,610 1,041,956
SHAREHOLDERS' FUNDS 1,015,612 1,119,958

The notes form part of these abbreviated accounts

Page 1 continued...
GLENISLE OF SCOTLAND LIMITED (REGISTERED NUMBER: SC086983)

ABBREVIATED BALANCE SHEET - continued
5 OCTOBER 2015


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 October 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 24 March 2016 and were signed on its behalf by:





L Goldinger - Director


The notes form part of these abbreviated accounts

Page 2
GLENISLE OF SCOTLAND LIMITED (REGISTERED NUMBER: SC086983)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 5 OCTOBER 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April
2008).

Turnover
Turnover represents income and interest received on investments held along with rents receivable relating to the
period, excluding value added tax.

Investment property
The company's investment property is held for long term investment and in accordance with the Financial
Reporting Standard for Smaller Entities (effective April 2008) , investment property is revalued annually and the
aggregate surplus or deficit is transferred to a revaluation reserve and no depreciation or amortisation is provided
in respect of investment property.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the
directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true
and fair view, since the current value of investment property, and changes to that current value, are of prime
importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many
factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be
separately identified or quantified.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date, with the exception of deferred tax relating to investment properties. Deferred tax has not been
provided on investment properties in line with Financial Reporting Standard for Smaller Entities (effective April
2008), which states that deferred tax should not be recognised on revaluation gains and losses, unless by the
balance sheet date the entity has entered into a binding agreement to sell the asset and has revalued the asset to
its selling price.

Investments
Investments held as fixed assets are stated at cost less provision for permanent diminution in value.

2. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 6 October 2014 967,820
Additions 143,114
Disposals (93,650 )
At 5 October 2015 1,017,284
NET BOOK VALUE
At 5 October 2015 1,017,284
At 5 October 2014 967,820

Page 3 continued...
GLENISLE OF SCOTLAND LIMITED (REGISTERED NUMBER: SC086983)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 5 OCTOBER 2015

3. INVESTMENT PROPERTY
Total
£   
COST
At 6 October 2014 172,842
Disposals (172,842 )
At 5 October 2015 -
NET BOOK VALUE
At 5 October 2015 -
At 5 October 2014 172,842

The directors have considered the market value of investment property at 5 October 2014 and do not believe it to
be materially different from it's net book value.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
78,002 Ordinary £1 78,002 78,002

Page 4