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REGISTERED NUMBER: SC493338 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Gladbourne Estates Limited

Gladbourne Estates Limited (Registered number: SC493338)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gladbourne Estates Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M J Howison





REGISTERED OFFICE: 12 Alva Street
Edinburgh
EH2 4QG





REGISTERED NUMBER: SC493338 (Scotland)





ACCOUNTANTS: Neil Nisbet & Co.
c/o Neil Nisbet & Co.
Thain House
226 Queensferry Road
Edinburgh
EH4 2BP

Gladbourne Estates Limited (Registered number: SC493338)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 68,086
Investment property 5 725,000 700,000
725,000 768,086

CURRENT ASSETS
Stocks 496,059 490,346
Debtors 6 541,611 564,487
Cash at bank and in hand 16,967 14,178
1,054,637 1,069,011
CREDITORS
Amounts falling due within one year 7 853,681 871,228
NET CURRENT ASSETS 200,956 197,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,956

965,869

CREDITORS
Amounts falling due after more than one year 8 (748,860 ) (825,804 )

PROVISIONS FOR LIABILITIES (22,250 ) (12,350 )
NET ASSETS 154,846 127,715

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable income reserve 106,816 100,716
Retained earnings 47,930 26,899
SHAREHOLDERS' FUNDS 154,846 127,715

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 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.

Gladbourne Estates Limited (Registered number: SC493338)

Balance Sheet - continued
31 December 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 director and authorised for issue on 26 September 2024 and were signed by:





M J Howison - Director


Gladbourne Estates Limited (Registered number: SC493338)

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

1. STATUTORY INFORMATION

Gladbourne Estates 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Gladbourne Estates Limited (Registered number: SC493338)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 139,979
Disposals (139,979 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 71,893
Charge for year 2,270
Eliminated on disposal (74,163 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 68,086

Gladbourne Estates Limited (Registered number: SC493338)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 139,979
Disposals (139,979 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 71,893
Charge for year 2,270
Eliminated on disposal (74,163 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 68,086

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 700,000
Revaluations 25,000
At 31 December 2023 725,000
NET BOOK VALUE
At 31 December 2023 725,000
At 31 December 2022 700,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 38,066
Valuation in 2020 50,000
Valuation in 2022 25,000
Valuation in 2023 25,000
Cost 586,934
725,000

Gladbourne Estates Limited (Registered number: SC493338)

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

5. INVESTMENT PROPERTY - continued

If the property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 586,934 586,934

The property was valued on an open market basis on 31 December 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 541,611 564,487

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 129,487 155,752
Hire purchase contracts - 81,083
Trade creditors - 54,702
Taxation and social security - 864
Other creditors 724,194 578,827
853,681 871,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 748,860 825,804

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 746,637 746,637

9. RELATED PARTY DISCLOSURES

The company was owed an amount of £539,009 by an associated company Gladbourne Developments Limited at the year end. There are no specific terms in relation to the repayment of this debt.

The company owed a director Mr M Howison £721,974 at the year end. There are no specific terms in relation to the repayment of this debt.

10. ULTIMATE CONTROLLING PARTY

The controlling party is M J Howison.