Company Registration No. SC063313 (Scotland)
GLENAPPIN LIMITED
Unaudited accounts
for the year ended 31 December 2023
GLENAPPIN LIMITED
Unaudited accounts
Contents
GLENAPPIN LIMITED
Company Information
for the year ended 31 December 2023
Directors
Alastair Napier
Mrs. Audrey Napier
Company Number
SC063313 (Scotland)
Registered Office
Taypark
Isla Road
Perth
PH2 7HQ
Accountants
Hawkstane Accountants
Brantwoode
Ferntower Road
Crieff
PH7 3DH
GLENAPPIN LIMITED
Statement of financial position
as at 31 December 2023
Investment property
2,354,000
2,784,000
Cash at bank and in hand
64,708
155,690
Creditors: amounts falling due within one year
(587,120)
(624,455)
Net current liabilities
(522,412)
(300,146)
Total assets less current liabilities
1,831,588
2,673,702
Creditors: amounts falling due after more than one year
(47,058)
(471,658)
Provisions for liabilities
Deferred tax
(179,380)
(211,035)
Net assets
1,605,150
1,991,009
Called up share capital
4,212
4,212
Fair value reserve
1,811,853
1,917,253
Profit and loss account
(210,915)
69,544
Shareholders' funds
1,605,150
1,991,009
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Mrs. Audrey Napier
Director
Company Registration No. SC063313
GLENAPPIN LIMITED
Notes to the Accounts
for the year ended 31 December 2023
GLENAPPIN LIMITED is a private company, limited by shares, registered in Scotland, registration number SC063313. The registered office is Taypark, Isla Road, Perth, PH2 7HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Turnover comprises rental income from in the United Kingdom ..
Rental income is recognised in the period in which it is receivable.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Taxation for the year comprises current and deferred tax.
Fair value at 1 January 2023
2,784,000
At 31 December 2023
2,354,000
If investment properties had not been revalued they would have been included at the following historic cost ( 2023 £622,203 ) ( 2022 £719,562 ) .
Investment properties were valued on an open market basis on 31 December 2021 by the directors.
GLENAPPIN LIMITED
Notes to the Accounts
for the year ended 31 December 2023
5
Investments
Other investments
Valuation at 1 January 2023
189,848
Valuation at 31 December 2023
-
Amounts falling due within one year
Amounts due from group undertakings etc.
-
168,619
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
11,693
12,450
Loans from directors
570,227
606,736
Directors loan account Audrey Napier £584753 ( £606736 -2022 ) included in above totals.
8
Creditors: amounts falling due after more than one year
2023
2022
The bank loans of £47,058 is supported by standard securities over various properties and a floating charge over all assets of the company. The loan is repayable in one instalment and is on an interest only basis.
The company is controlled by the director Mrs A R Napier.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).