GLG DEVELOPMENTS LIMITED
REGISTERED NUMBER: SC549419
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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For the period ended 31 March 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2022.
The notes on page 2 form part of these financial statements.
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GLG DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
The company is private company, limited by shares and incorporated in Scotland with number SC549419. The address of the registered office is East Balmirmer, Arbroath, Angus, DD11 2PN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to provide financial support to the company.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Authorised, allotted, called up and fully paid
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100 (2021 - 100) Ordinary shares of £1.00 each
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