Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue1No description of principal activity2022-04-01false2 SC549419 2022-04-01 2023-03-31 SC549419 2021-04-01 2022-03-31 SC549419 2023-03-31 SC549419 2022-03-31 SC549419 c:Director1 2022-04-01 2023-03-31 SC549419 c:Director2 2022-04-01 2023-03-31 SC549419 c:Director2 2023-03-31 SC549419 c:RegisteredOffice 2022-04-01 2023-03-31 SC549419 d:CurrentFinancialInstruments 2023-03-31 SC549419 d:CurrentFinancialInstruments 2022-03-31 SC549419 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC549419 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC549419 d:ShareCapital 2023-03-31 SC549419 d:ShareCapital 2022-03-31 SC549419 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC549419 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC549419 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC549419 c:OrdinaryShareClass1 2023-03-31 SC549419 c:FRS102 2022-04-01 2023-03-31 SC549419 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC549419 c:FullAccounts 2022-04-01 2023-03-31 SC549419 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC549419










GLG DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
GLG DEVELOPMENTS LIMITED
 

COMPANY INFORMATION


DIRECTORS
R R Galloway 
R G Galloway (appointed 8 August 2022)




REGISTERED NUMBER
SC549419



REGISTERED OFFICE
East Balmirmer
Arbroath

Angus

DD11 2PN




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
GLG DEVELOPMENTS LIMITED
REGISTERED NUMBER: SC549419

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

  

Current assets
  

Stocks
  
175,747
-

Cash at bank and in hand
  
23,929
14

  
199,676
14

Creditors: amounts falling due within one year
 4 
(205,816)
(4,714)

Net current liabilities
  
 
 
(6,140)
 
 
(4,700)

Total assets less current liabilities
  
(6,140)
(4,700)

  

Net liabilities
  
(6,140)
(4,700)


Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
  
(6,240)
(4,800)

  
(6,140)
(4,700)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 10 October 2023.




R R Galloway
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
GLG DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

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

 
2.1

Basis of preparation of financial statements

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

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.

 
2.3

Turnover

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:

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2

 
GLG DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).


4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
200,000
-

Other creditors
5,082
3,980

Accruals and deferred income
734
734

205,816
4,714



5.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



Page 3