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REGISTERED NUMBER: SC530245 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Glen Monarch Ltd

Glen Monarch Ltd (Registered number: SC530245)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Glen Monarch Ltd

Company Information
for the Year Ended 31st March 2023







DIRECTOR: R Singh





REGISTERED OFFICE: 581 Alexandra Parade
Glasgow
G31 3DB





REGISTERED NUMBER: SC530245 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Auchingramont Road
Hamilton
ML3 6JP

Glen Monarch Ltd (Registered number: SC530245)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 181,560 181,560

CURRENT ASSETS
Stocks 35,792 157,900
Debtors 5 885,141 540,057
Cash at bank and in hand 4,130 14,267
925,063 712,224
CREDITORS
Amounts falling due within one year 6 254,991 231,005
NET CURRENT ASSETS 670,072 481,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,632

662,779

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 851,631 662,778
851,632 662,779

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

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

The director acknowledges his 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.

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 director and authorised for issue on 29th March 2024 and were signed by:





R Singh - Director


Glen Monarch Ltd (Registered number: SC530245)

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

1. STATUTORY INFORMATION

Glen Monarch Ltd 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
Turnover 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 7 ) .

Glen Monarch Ltd (Registered number: SC530245)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 96,950 126,485 223,435
DEPRECIATION
At 1st April 2022
and 31st March 2023 1,939 39,936 41,875
NET BOOK VALUE
At 31st March 2023 95,011 86,549 181,560
At 31st March 2022 95,011 86,549 181,560

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 1,503 1,503

Amounts falling due after more than one year:
Other debtors 883,638 538,554

Aggregate amounts 885,141 540,057

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,103 896
Taxation and social security 51,341 34,303
Other creditors 190,547 195,806
254,991 231,005