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REGISTERED NUMBER: SC463240 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

SOUTH GLENBUCHAT LIMITED

SOUTH GLENBUCHAT LIMITED (REGISTERED NUMBER: SC463240)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH GLENBUCHAT LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs L Robinson
Mr P A Robinson





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC463240 (Scotland)






SOUTH GLENBUCHAT LIMITED (REGISTERED NUMBER: SC463240)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 666,187 677,719

CURRENT ASSETS
Debtors 5 3,650 3,061
Cash at bank 235,833 190,828
239,483 193,889
CREDITORS
Amounts falling due within one year 6 42,782 53,835
NET CURRENT ASSETS 196,701 140,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

862,888

817,773

PROVISIONS FOR LIABILITIES 3,076 5,267
NET ASSETS 859,812 812,506

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 859,810 812,504
SHAREHOLDERS' FUNDS 859,812 812,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOUTH GLENBUCHAT LIMITED (REGISTERED NUMBER: SC463240)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Mrs L Robinson - Director


SOUTH GLENBUCHAT LIMITED (REGISTERED NUMBER: SC463240)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

South Glenbuchat Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investment property
In accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been changed cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Donations
During the year, company donated £5,527.50 to several charities.

SOUTH GLENBUCHAT LIMITED (REGISTERED NUMBER: SC463240)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 650,000 36,863 7,285 92,385 786,533
DEPRECIATION
At 1 April 2022 - 32,065 6,632 70,117 108,814
Charge for year - 3,601 653 7,278 11,532
At 31 March 2023 - 35,666 7,285 77,395 120,346
NET BOOK VALUE
At 31 March 2023 650,000 1,197 - 14,990 666,187
At 31 March 2022 650,000 4,798 653 22,268 677,719

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,000 -
Prepayments and accrued income 2,650 3,061
3,650 3,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,632 1,616
Amounts owed to participating interests 17,514 17,514
Tax 9,510 27,460
VAT 3,158 2,061
Other creditors - 703
Directors' current accounts 1,322 1,982
Accrued expenses 5,646 2,499
42,782 53,835

7. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.