Registered number: SC676502
GLENBRAE TRADING (PROPERTY) LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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GLENBRAE TRADING (PROPERTY) LIMITED
COMPANY INFORMATION
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GLENBRAE TRADING (PROPERTY) LIMITED
REGISTERED NUMBER: SC676502
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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NET CURRENT ASSETS/(LIABILITIES)
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TOTAL ASSETS LESS CURRENT LIABILITIES
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Creditors: amounts falling due after more than one year
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GLENBRAE TRADING (PROPERTY) LIMITED
REGISTERED NUMBER: SC676502
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.
The notes on pages 3 to 6 form part of these financial statements.
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GLENBRAE TRADING (PROPERTY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
Glenbrae Trading (Property) Limited is a private company, limited by shares, incorporated in Scotland with registration number SC676502. The registered office is South Balnoon Farm, Forgue, Huntly, AB54 6DH.
The Company's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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GLENBRAE TRADING (PROPERTY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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The average monthly number of employees, including directors, during the period was 1 (2022 - 1).
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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The loan is secured by a charge over land at Plot 3 Strewiebank Farm and a floating charge over the assets of the company.
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GLENBRAE TRADING (PROPERTY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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The following liabilities were secured:
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Details of security provided:
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The loan is secured by a charge over land at Nether Anguston, Peterculter.
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GLENBRAE TRADING (PROPERTY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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ALLOTTED, CALLED UP AND FULLY PAID
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100 (2022 - 100) Ordinary shares of £1.00 each
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