Registration number:
GLME Estates Ltd
for the Period from 24 November 2022 to 30 November 2023
GLME Estates Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
GLME Estates Ltd
Company Information
Directors |
Mr S Eynon Mrs M Eynon |
Registered office |
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Accountants |
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GLME Estates Ltd
(Registration number: SC751400)
Balance Sheet as at 30 November 2023
Note |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
(100) |
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Retained earnings |
8,459 |
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Shareholders' funds |
8,359 |
GLME Estates Ltd
(Registration number: SC751400)
Balance Sheet as at 30 November 2023
For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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GLME Estates Ltd
Notes to the Unaudited Financial Statements for the Period from 24 November 2022 to 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis.
GLME Estates Ltd
Notes to the Unaudited Financial Statements for the Period from 24 November 2022 to 30 November 2023
Revenue recognition
Turnover comprises the fair value of the consideration derived from rental of commercial property. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
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 taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold Property |
1% Straight Line |
GLME Estates Ltd
Notes to the Unaudited Financial Statements for the Period from 24 November 2022 to 30 November 2023
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the period was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 30 November 2023 |
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Depreciation |
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Charge for the period |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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Included within the net book value of land and buildings above is £256,001 in respect of freehold land and buildings.
GLME Estates Ltd
Notes to the Unaudited Financial Statements for the Period from 24 November 2022 to 30 November 2023
Debtors |
Note |
2023 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Creditors |
Creditors: amounts falling due within one year
2023 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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100 |
GLME Estates Ltd
Notes to the Unaudited Financial Statements for the Period from 24 November 2022 to 30 November 2023
Related party transactions |
During the year, the company sold goods and services totalling £11,310 to Eycon Ltd.This was conducted under normal commercial terms.
During the year, the company received loans totalling £290,261 from Eycon Ltd. At the year end, the balance due to Eycon Ltd was £290,261. This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with Eycon Electrical Limited, a company controlled by S Eynon.
During the year the comapny sold goods and services totalling £7,200 to Eycon Ltd. This was conducted under normal commerical terms. At the year end, the balance due from Eycon Electrical Limited was £7,200.