Company Registration No. SC364662 (Scotland)
Glenbield Limited
Unaudited accounts
for the year ended 31 December 2022
Glenbield Limited
Unaudited accounts
Contents
Glenbield Limited
Company Information
for the year ended 31 December 2022
Directors
Douglas Thomson
Dorothy Thomson
Company Number
SC364662 (Scotland)
Registered Office
GLENBIELD BOARDING KENNELS
VENLAW HIGH ROAD
PEEBLES
EH45 8SS
Accountants
R Books Limited
16 Crookston Place
Peebles
Peeblesshire
EH45 9AL
Glenbield Limited
Statement of financial position
as at 31 December 2022
Tangible assets
30,238
45,384
Cash at bank and in hand
112
-
Creditors: amounts falling due within one year
(192,332)
(204,202)
Net current liabilities
(190,298)
(202,781)
Net liabilities
(160,060)
(157,397)
Called up share capital
100
100
Profit and loss account
(160,160)
(157,497)
Shareholders' funds
(160,060)
(157,397)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Douglas Thomson
Director
Company Registration No. SC364662
Glenbield Limited
Notes to the Accounts
for the year ended 31 December 2022
Glenbield Limited is a private company, limited by shares, registered in Scotland, registration number SC364662. The registered office is GLENBIELD BOARDING KENNELS, VENLAW HIGH ROAD, PEEBLES, EH45 8SS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company has net liabilities of £160,060 (2021 - £157,397), and net current liabilities of £190,298 (2021 - £202,781). The company is reliant on the continued support of the directors and shareholders who have advanced funds to the company. There is no fixed repayment term for their loans and they have confirmed that repayment of their debt will not be sought whilst this may damage the interest of other creditors. The accounts have therefore been prepared on a going concern basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
- 5% straight line
Plant & machinery
- 25% straight line
Computer equipment
- 25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
A net deferred tax asset is recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are not discounted.
Glenbield Limited
Notes to the Accounts
for the year ended 31 December 2022
4
Intangible fixed assets
Goodwill
At 31 December 2022
70,000
At 31 December 2022
70,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
88,500
82,042
1,232
171,774
At 31 December 2022
88,500
82,042
1,232
171,774
At 1 January 2022
53,837
71,321
1,232
126,390
Charge for the year
4,425
10,721
-
15,146
At 31 December 2022
58,262
82,042
1,232
141,536
At 31 December 2022
30,238
-
-
30,238
At 31 December 2021
34,663
10,721
-
45,384
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
-
83
Other creditors
45,814
45,594
Loans from directors
145,798
158,085
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Glenbield Limited
Notes to the Accounts
for the year ended 31 December 2022
9
Transactions with related parties
At the year end the company owed the directors £145,798 (2021 : £158,085).
A balance of £42,264 is included within Other Creditors in respect of a loan made to the company by G Thomson, shareholder and relative of the directors.
The loans are interest free and have no fixed terms of repayment.
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).