2023-04-012024-03-312024-03-31falseSC395138GLASMIN RESOURCES (UK) LIMITED2024-09-0609900iso4217:GBPxbrli:pureSC3951382023-04-01SC3951382024-03-31SC3951382023-04-012024-03-31SC3951382022-04-01SC3951382023-03-31SC3951382022-04-012023-03-31SC395138bus:SmallEntities2023-04-012024-03-31SC395138bus:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC395138bus:FullAccounts2023-04-012024-03-31SC395138bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC395138core:WithinOneYear2024-03-31SC395138core:AfterOneYear2024-03-31SC395138core:WithinOneYear2023-03-31SC395138core:AfterOneYear2023-03-31SC395138core:ShareCapital2024-03-31SC395138core:SharePremium2024-03-31SC395138core:RevaluationReserve2024-03-31SC395138core:OtherReservesSubtotal2024-03-31SC395138core:RetainedEarningsAccumulatedLosses2024-03-31SC395138core:ShareCapital2023-03-31SC395138core:SharePremium2023-03-31SC395138core:RevaluationReserve2023-03-31SC395138core:OtherReservesSubtotal2023-03-31SC395138core:RetainedEarningsAccumulatedLosses2023-03-31SC395138core:LandBuildings2024-03-31SC395138core:PlantMachinery2024-03-31SC395138core:Vehicles2024-03-31SC395138core:FurnitureFittings2024-03-31SC395138core:OfficeEquipment2024-03-31SC395138core:NetGoodwill2024-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2024-03-31SC395138core:ListedExchangeTraded2024-03-31SC395138core:UnlistedNon-exchangeTraded2024-03-31SC395138core:LandBuildings2023-03-31SC395138core:PlantMachinery2023-03-31SC395138core:Vehicles2023-03-31SC395138core:FurnitureFittings2023-03-31SC395138core:OfficeEquipment2023-03-31SC395138core:NetGoodwill2023-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2023-03-31SC395138core:ListedExchangeTraded2023-03-31SC395138core:UnlistedNon-exchangeTraded2023-03-31SC395138core:LandBuildings2023-04-012024-03-31SC395138core:PlantMachinery2023-04-012024-03-31SC395138core:Vehicles2023-04-012024-03-31SC395138core:FurnitureFittings2023-04-012024-03-31SC395138core:OfficeEquipment2023-04-012024-03-31SC395138core:NetGoodwill2023-04-012024-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC395138core:ListedExchangeTraded2023-04-012024-03-31SC395138core:UnlistedNon-exchangeTraded2023-04-012024-03-31SC395138core:MoreThanFiveYears2023-04-012024-03-31SC395138core:Non-currentFinancialInstruments2024-03-31SC395138core:Non-currentFinancialInstruments2023-03-31SC395138dpl:CostSales2023-04-012024-03-31SC395138dpl:DistributionCosts2023-04-012024-03-31SC395138core:LandBuildings2023-04-012024-03-31SC395138core:PlantMachinery2023-04-012024-03-31SC395138core:Vehicles2023-04-012024-03-31SC395138core:FurnitureFittings2023-04-012024-03-31SC395138core:OfficeEquipment2023-04-012024-03-31SC395138dpl:AdministrativeExpenses2023-04-012024-03-31SC395138core:NetGoodwill2023-04-012024-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC395138dpl:GroupUndertakings2023-04-012024-03-31SC395138dpl:ParticipatingInterests2023-04-012024-03-31SC395138dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-31SC395138core:ListedExchangeTraded2023-04-012024-03-31SC395138dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-31SC395138core:UnlistedNon-exchangeTraded2023-04-012024-03-31SC395138dpl:CostSales2022-04-012023-03-31SC395138dpl:DistributionCosts2022-04-012023-03-31SC395138core:LandBuildings2022-04-012023-03-31SC395138core:PlantMachinery2022-04-012023-03-31SC395138core:Vehicles2022-04-012023-03-31SC395138core:FurnitureFittings2022-04-012023-03-31SC395138core:OfficeEquipment2022-04-012023-03-31SC395138dpl:AdministrativeExpenses2022-04-012023-03-31SC395138core:NetGoodwill2022-04-012023-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-31SC395138dpl:GroupUndertakings2022-04-012023-03-31SC395138dpl:ParticipatingInterests2022-04-012023-03-31SC395138dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-31SC395138core:ListedExchangeTraded2022-04-012023-03-31SC395138dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-31SC395138core:UnlistedNon-exchangeTraded2022-04-012023-03-31SC395138core:NetGoodwill2024-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2024-03-31SC395138core:LandBuildings2024-03-31SC395138core:PlantMachinery2024-03-31SC395138core:Vehicles2024-03-31SC395138core:FurnitureFittings2024-03-31SC395138core:OfficeEquipment2024-03-31SC395138core:AfterOneYear2024-03-31SC395138core:WithinOneYear2024-03-31SC395138core:ListedExchangeTraded2024-03-31SC395138core:UnlistedNon-exchangeTraded2024-03-31SC395138core:ShareCapital2024-03-31SC395138core:SharePremium2024-03-31SC395138core:RevaluationReserve2024-03-31SC395138core:OtherReservesSubtotal2024-03-31SC395138core:RetainedEarningsAccumulatedLosses2024-03-31SC395138core:NetGoodwill2023-03-31SC395138core:IntangibleAssetsOtherThanGoodwill2023-03-31SC395138core:LandBuildings2023-03-31SC395138core:PlantMachinery2023-03-31SC395138core:Vehicles2023-03-31SC395138core:FurnitureFittings2023-03-31SC395138core:OfficeEquipment2023-03-31SC395138core:AfterOneYear2023-03-31SC395138core:WithinOneYear2023-03-31SC395138core:ListedExchangeTraded2023-03-31SC395138core:UnlistedNon-exchangeTraded2023-03-31SC395138core:ShareCapital2023-03-31SC395138core:SharePremium2023-03-31SC395138core:RevaluationReserve2023-03-31SC395138core:OtherReservesSubtotal2023-03-31SC395138core:RetainedEarningsAccumulatedLosses2023-03-31SC395138core:NetGoodwill2022-04-01SC395138core:IntangibleAssetsOtherThanGoodwill2022-04-01SC395138core:LandBuildings2022-04-01SC395138core:PlantMachinery2022-04-01SC395138core:Vehicles2022-04-01SC395138core:FurnitureFittings2022-04-01SC395138core:OfficeEquipment2022-04-01SC395138core:AfterOneYear2022-04-01SC395138core:WithinOneYear2022-04-01SC395138core:ListedExchangeTraded2022-04-01SC395138core:UnlistedNon-exchangeTraded2022-04-01SC395138core:ShareCapital2022-04-01SC395138core:SharePremium2022-04-01SC395138core:RevaluationReserve2022-04-01SC395138core:OtherReservesSubtotal2022-04-01SC395138core:RetainedEarningsAccumulatedLosses2022-04-01SC395138core:AfterOneYear2023-04-012024-03-31SC395138core:WithinOneYear2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:CostValuation2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-31SC395138core:Non-currentFinancialInstrumentscore:CostValuation2024-03-31SC395138core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-03-31SC395138core:Non-currentFinancialInstrumentscore:CostValuation2023-03-31SC395138core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-31SC395138core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-31SC395138bus:Director12023-04-012024-03-31

GLASMIN RESOURCES (UK) LIMITED

Registered Number
SC395138
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

GLASMIN RESOURCES (UK) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

CHARTER, William John

Registered Address

Kohala House
Duchal Road
Kilmacolm
PA13 4AY

Registered Number

SC395138 (Scotland)
GLASMIN RESOURCES (UK) LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3713379
Investments41,0001,000
1,7131,379
Current assets
Debtors5298,299331,953
Cash at bank and on hand3461,799
298,645333,752
Creditors amounts falling due within one year6(66,815)(65,739)
Net current assets (liabilities)231,830268,013
Total assets less current liabilities233,543269,392
Creditors amounts falling due after one year7(48,002)(78,773)
Provisions for liabilities8(94)(94)
Net assets185,447190,525
Capital and reserves
Called up share capital100100
Profit and loss account185,347190,425
Shareholders' funds185,447190,525
The financial statements were approved and authorised for issue by the Director on 6 September 2024, and are signed on its behalf by:
CHARTER, William John
Director
Registered Company No. SC395138
GLASMIN RESOURCES (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Interest income
Interest income is recognised using the effective interest rate method.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year54
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 232,8102,810
Additions771771
At 31 March 243,5813,581
Depreciation and impairment
At 01 April 232,4312,431
Charge for year437437
At 31 March 242,8682,868
Net book value
At 31 March 24713713
At 31 March 23379379
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 231,0001,000
At 31 March 241,0001,000
Net book value
At 31 March 241,0001,000
At 31 March 231,0001,000

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings251,889247,770
Other debtors45,16182,999
Prepayments and accrued income1,2491,184
Total298,299331,953
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,0542,160
Bank borrowings and overdrafts50,33644,696
Taxation and social security11,10618,498
Other creditors776348
Accrued liabilities and deferred income3,54337
Total66,81565,739
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts48,00278,773
Total48,00278,773
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)9494
Total9494
9.Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £776 (2023: £348) were due to the fund. They are included in other creditors.
10.Directors advances, credits and guarantees
As at 31 March 2024, a director owed £44,777 (2023: £69,837) to Glasmin Resources (UK) Limited. During the year there were amounts advanced of £nil and amounts repaid of £25,060. The loan is interest-free and repayable on demand.
11.Related party transactions
As at 31 March 2024, a subsidiary company owed £243,290 (2023: £239,690) to Glasmin Resources (UK) Limited. The amounts are unsecured, interest-free and repayable on demand. As at 31 March 2024, the parent company owed £8,599 (2023: £8,079) to Glasmin Resources (UK) Limited. The amounts are unsecured, interest-free and repayable on demand.
12.Controlling party
The ultimate controlling party is Kohala Holdings Limited (SC687439) by virtue of its shareholding in the company.