Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseSale of hydro electric power22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC163261 2022-04-01 2023-03-31 SC163261 2021-04-01 2022-03-31 SC163261 2023-03-31 SC163261 2022-03-31 SC163261 c:CompanySecretary1 2022-04-01 2023-03-31 SC163261 c:Director1 2022-04-01 2023-03-31 SC163261 c:Director2 2022-04-01 2023-03-31 SC163261 c:RegisteredOffice 2022-04-01 2023-03-31 SC163261 d:Buildings 2023-03-31 SC163261 d:Buildings 2022-03-31 SC163261 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC163261 d:PlantMachinery 2023-03-31 SC163261 d:PlantMachinery 2022-03-31 SC163261 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC163261 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC163261 d:CurrentFinancialInstruments 2023-03-31 SC163261 d:CurrentFinancialInstruments 2022-03-31 SC163261 d:Non-currentFinancialInstruments 2023-03-31 SC163261 d:Non-currentFinancialInstruments 2022-03-31 SC163261 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC163261 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC163261 d:ShareCapital 2023-03-31 SC163261 d:ShareCapital 2022-03-31 SC163261 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC163261 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC163261 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC163261 c:OrdinaryShareClass1 2023-03-31 SC163261 c:OrdinaryShareClass1 2022-03-31 SC163261 c:FRS102 2022-04-01 2023-03-31 SC163261 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC163261 c:FullAccounts 2022-04-01 2023-03-31 SC163261 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC163261










GLENGLASS HYDRO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
GLENGLASS HYDRO LIMITED
 

COMPANY INFORMATION


Directors
Mr Ronald Munro Ferguson 
Mrs Erica Susan Ferguson 




Company secretary
Mrs E Munro Ferguson



Registered number
SC163261



Registered office
Novar Estate Office
Novar Estates

Evanton

Ross-Shire

IV16 9XL




Accountants
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
GLENGLASS HYDRO LIMITED
REGISTERED NUMBER: SC163261

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
153,756
193,002

  
153,756
193,002

CURRENT ASSETS
  

Debtors: amounts falling due after more than one year
 5 
65,405
79,717

Debtors: amounts falling due within one year
 5 
280,475
192,429

Cash at bank and in hand
  
746,025
621,591

  
1,091,905
893,737

Creditors: amounts falling due within one year
 6 
(138,609)
(145,955)

NET CURRENT ASSETS
  
 
 
953,296
 
 
747,782

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,107,052
940,784

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(4,916)
(10,924)

  
 
 
(4,916)
 
 
(10,924)

NET ASSETS
  
1,102,136
929,860


CAPITAL AND RESERVES
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
1,092,136
919,860

  
1,102,136
929,860


Page 1

 
GLENGLASS HYDRO LIMITED
REGISTERED NUMBER: SC163261

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 6 November 2023.




Mr Ronald Munro Ferguson
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GLENGLASS HYDRO LIMITED
 

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

1.


GENERAL INFORMATION

Glenglass Hydro Limited is a private company, limited by shares, incorporated in Scotland with registration number SC163261. The registered office is Novar Estate, Evanton, Ross-Shire, IV16 9XL.
The company's functional and presentational currency is GBP.

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

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
GLENGLASS HYDRO LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
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.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

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

Page 4

 
GLENGLASS HYDRO LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Heritable property
Plant and machinery
Total

£
£
£



COST OR VALUATION


At 1 April 2022
243,220
859,558
1,102,778



At 31 March 2023

243,220
859,558
1,102,778



DEPRECIATION


At 1 April 2022
103,641
806,135
909,776


Charge for the year on owned assets
4,864
34,382
39,246



At 31 March 2023

108,505
840,517
949,022



NET BOOK VALUE



At 31 March 2023
134,715
19,041
153,756



At 31 March 2022
139,579
53,423
193,002


5.


DEBTORS

2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Amounts owed by group undertakings
65,405
79,717

65,405
79,717


2023
2022
£
£

DUE WITHIN ONE YEAR

Trade debtors
4,286
33,772

Amounts owed by group undertakings
140,000
40,000

Prepayments and accrued income
136,189
118,657

280,475
192,429


Page 5

 
GLENGLASS HYDRO LIMITED
 

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

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
17,190
41,542

Amounts owed to group undertakings
-
6,492

Other taxation and social security
114,853
94,072

Other creditors
1,029
696

Accruals and deferred income
5,537
3,153

138,609
145,955



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



Page 6