Glenaig Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC489433 (Scotland)

Abbreviated Unaudited Accounts

for the Period 21 October 2014 to 31 December 2015

for

Glenaig Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mrs C Menneer

REGISTERED OFFICE:

15 Gladstone Place

Stirling

FK8 2NN

REGISTERED NUMBER:

SC489433 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

15 Gladstone Place

Stirling

FK8 2NN

FIXED ASSETS

Tangible assets

2

2,503,606

CURRENT ASSETS

Debtors

3,416

Cash at bank

9,836

13,252

CREDITORS

Amounts falling due within one year

2,477,517

NET CURRENT LIABILITIES

(2,464,265

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,341

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

39,241

SHAREHOLDERS' FUNDS

39,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 14 July 2016 and were signed by:

Mrs C Menneer - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the rental income receivable by the company.

Tangible fixed assets

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

Land and buildings

-

No depreciation

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Investment properties

The company's investment properties are held as long term investments and, in accordance with the

Financial Reporting Standards for Smaller Entities (effective April 2008), investment properties are

included in the balance sheet at their open market value, as determined by the directors. Compliance

with Financial Reporting Standards for Smaller Entities (effective April 2008) is a departure from the

Companies Act 2006. However, the directors believe that this policy is necessary to give a true and

fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

2,503,606

At 31 December 2015

2,503,606

NET BOOK VALUE

At 31 December 2015

2,503,606

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

4.	ULTIMATE PARENT COMPANY

The company is wholly owned by Menneer (Investments & Consultancy) Ltd