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REGISTERED NUMBER: SC689637 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Glenmore Group Ltd

Glenmore Group Ltd (Registered number: SC689637)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Glenmore Group Ltd (Registered number: SC689637)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 102,934 114,697
Tangible assets 5 305,190 260,713
408,124 375,410

CURRENT ASSETS
Stocks 78,815 55,377
Debtors 6 77,966 1,525
Cash at bank 100,394 100,212
257,175 157,114
CREDITORS
Amounts falling due within one year 7 (347,261 ) (69,150 )
NET CURRENT (LIABILITIES)/ASSETS (90,086 ) 87,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,038

463,374

CREDITORS
Amounts falling due after more than one
year

8

(633,911

)

(657,985

)

PROVISIONS FOR LIABILITIES (27,298 ) (33,277 )
NET LIABILITIES (343,171 ) (227,888 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (343,181 ) (227,898 )
(343,171 ) (227,888 )

Glenmore Group Ltd (Registered number: SC689637)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 25 September 2024 and were signed on its behalf by:





Mr R Paterson - Director


Glenmore Group Ltd (Registered number: SC689637)

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

1. STATUTORY INFORMATION

Glenmore Group Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC689637. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, Scotland, FK3 8WX.

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 represents net invoiced sales of goods in respect of a plant nursery excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Glenmore Group Ltd (Registered number: SC689637)

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

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern
The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors' belief that the company should prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 117,638
AMORTISATION
At 1 January 2023 2,941
Charge for year 11,763
At 31 December 2023 14,704
NET BOOK VALUE
At 31 December 2023 102,934
At 31 December 2022 114,697

Glenmore Group Ltd (Registered number: SC689637)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 98,062 244,832 342,894
Additions 22,649 87,254 109,903
At 31 December 2023 120,711 332,086 452,797
DEPRECIATION
At 1 January 2023 12,966 69,215 82,181
Charge for year 11,328 54,098 65,426
At 31 December 2023 24,294 123,313 147,607
NET BOOK VALUE
At 31 December 2023 96,417 208,773 305,190
At 31 December 2022 85,096 175,617 260,713

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 59,705 -
Amounts owed by related parties 14,225 -
Other debtors 4,036 1,525
77,966 1,525

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 119,986 48,467
Amounts owed to related parties 174,904 -
Taxation and social security 48,731 12,923
Other creditors 3,640 7,760
347,261 69,150

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to related parties 325,000 225,000
Other creditors 308,911 432,985
633,911 657,985

Glenmore Group Ltd (Registered number: SC689637)

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

9. RELATED PARTY DISCLOSURES

At 31 December 2023, amounts owed by entities with common directors and shareholders was £14,225 (2022: £nil).

At 31 December 2023, amounts owed to entities with common directors and shareholders was £499,904 (2022: £225,000).