Company registration number SC261992 (Scotland)
GLENGAIRN PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
GLENGAIRN PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr AJ McMillan
Mrs PD McMillan
Company number
SC261992
Registered office
55 Eday Crescent
Kilmarnock
Ayrshire
KA3 2HJ
Accountants
Rogerson & Goldie
29 Portland Road
Kilmarnock
East Ayrshire
KA1 2BY
GLENGAIRN PROPERTIES LIMITED
CONTENTS
Page
Balance sheet and notes to the financial statements
2 - 3
GLENGAIRN PROPERTIES LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GLENGAIRN PROPERTIES LIMITED
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glengairn Properties Limited for the year ended 31 March 2023, which comprise the balance sheet, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the board of directors of Glengairn Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glengairn Properties Limited and state those matters that we have agreed to state to the board of directors of Glengairn Properties Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glengairn Properties Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Glengairn Properties Limited has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that Glengairn Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Glengairn Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Rogerson & Goldie
7 November 2023
Chartered Accountants
29 Portland Road
Kilmarnock
East Ayrshire
KA1 2BY
GLENGAIRN PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
£
£
£
£
Fixed assets
54,949
54,949
Current assets
232,328
202,275
Creditors: amounts falling due within one year
(7,078)
(5,044)
Net current assets
225,250
197,231
Total assets less current liabilities
280,199
252,180
Net assets
280,199
252,180
Capital and reserves
280,199
252,180
Notes to the financial statements
1
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2023
2022
Number
Number
Employees
Glengairn Properties Limited is a private company limited by shares incorporated in Scotland. The registered office is 55 Eday Crescent, Kilmarnock, Ayrshire, KA3 2HJ.
The presentation currency of the financial statements is the Pound Sterling (£).
The property, which is held as investment property to earn rental or capital appreciation, or both, is stated in the balance sheet at cost, which in the opinion of the directors, is not materially different from fair value, therefore no depreciation has been provided.
Rent is received from Euro Driveshafts & Hydraulics Limited, a company in which A.J. McMillan is a director and controlling shareholder. The company has advanced loan funds to Euro Driveshafts & Hydraulics Limited. There is no fixed term for repayment of the loan and interest is charged at a commercial rate.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
GLENGAIRN PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
- 3 -
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
(e) the company has relied on the specified exemption as a micro company contained in section 352 Companies Act 2014; the company has done so on the grounds that it is entitled to the benefit of that exemption as a small company and we confirm that the abridged financial statements have been properly prepared in accordance with section 353 Companies Act 2014.true
The financial statements were approved by the board of directors and authorised for issue on 7 November 2023 and are signed on its behalf by:
Mr AJ McMillan
Mrs PD McMillan
Director
Director
Company registration number SC261992 (Scotland)