Glenaig Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: SC489433 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Glenaig Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C Menneer

REGISTERED OFFICE:

15 Gladstone Place

Stirling

FK8 2NN

BUSINESS ADDRESS:

6 Chapel Place

Dollar

FK14 7DW

REGISTERED NUMBER:

SC489433 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

15 Gladstone Place

Stirling

FK8 2NN

FIXED ASSETS

Tangible assets

3

-

2,503,606

CURRENT ASSETS

Debtors

4

8,108

3,416

Cash at bank

-

9,836

8,108

13,252

CREDITORS

Amounts falling due within one year

5

1,084,586

2,477,517

NET CURRENT LIABILITIES

(1,076,478

)

(2,464,265

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,076,478

)

39,341

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(1,076,578

)

39,241

SHAREHOLDERS' FUNDS

(1,076,478

)

39,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 1 May 2017 and were signed by:

Mrs C Menneer - Director

1.	STATUTORY INFORMATION

Glenaig 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 the provisions of Section 1A

"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable

in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have

been prepared under the historical cost convention.

The company has transitioned to FRS 102 from previously extant UK GAAP as at 21 October 2014.

The reported financial position and financial performance for the previous period are not affected by

the transition to FRS 102.

Significant judgements and estimates

The preparation of Financial Statements required management to make judgements, estimates and

assumptions that affect the application of accounting policies and reported amounts of assets,

liabilities, income and expenses. Actual results may differ from these estimates. Estimates and

assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period

in which the estimate is revised and in any future periods affected.

The directors are of the opinion there are no matters of significant judgement and estimation which

are material to the financial statements.

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

Going concern

At the year end the company's liabilities exceeded its assets by £1,076,478. The company continues

with the support of its parent company.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2016

2,503,606

Disposals

(2,503,606

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

2,503,606

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

260

-

Tax

7,848

-

Prepayments

-

3,416

8,108

3,416

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed to group undertakings

1,083,086

2,471,011

Accruals and deferred income

1,500

6,506

1,084,586

2,477,517

6.	SECURED DEBTS

There is a fixed charge over all and the whole of the property of the company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by Menneer (Investment & Consultancy) Limited.