Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC522787 2023-04-01 2024-03-31 SC522787 2022-04-01 2023-03-31 SC522787 2024-03-31 SC522787 2023-03-31 SC522787 2022-04-01 SC522787 c:Director1 2023-04-01 2024-03-31 SC522787 c:Director2 2023-04-01 2024-03-31 SC522787 c:RegisteredOffice 2023-04-01 2024-03-31 SC522787 d:FreeholdInvestmentProperty 2024-03-31 SC522787 d:FreeholdInvestmentProperty 2023-03-31 SC522787 d:CurrentFinancialInstruments 2024-03-31 SC522787 d:CurrentFinancialInstruments 2023-03-31 SC522787 d:Non-currentFinancialInstruments 2024-03-31 SC522787 d:Non-currentFinancialInstruments 2023-03-31 SC522787 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC522787 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC522787 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC522787 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC522787 d:ShareCapital 2023-04-01 2024-03-31 SC522787 d:ShareCapital 2024-03-31 SC522787 d:ShareCapital 2022-04-01 2023-03-31 SC522787 d:ShareCapital 2023-03-31 SC522787 d:ShareCapital 2022-04-01 SC522787 d:RevaluationReserve 2023-04-01 2024-03-31 SC522787 d:RevaluationReserve 2024-03-31 SC522787 d:RevaluationReserve 2022-04-01 2023-03-31 SC522787 d:RevaluationReserve 2023-03-31 SC522787 d:RevaluationReserve 2022-04-01 SC522787 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 SC522787 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC522787 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 SC522787 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC522787 d:RetainedEarningsAccumulatedLosses 2022-04-01 SC522787 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC522787 c:OrdinaryShareClass1 2024-03-31 SC522787 c:OrdinaryShareClass1 2023-03-31 SC522787 c:FRS102 2023-04-01 2024-03-31 SC522787 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC522787 c:FullAccounts 2023-04-01 2024-03-31 SC522787 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC522787 5 2023-04-01 2024-03-31 SC522787 6 2023-04-01 2024-03-31 SC522787 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC522787










GLG INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 
GLG INVESTMENTS LIMITED
 

COMPANY INFORMATION


Directors
R G Galloway 
R R Galloway 




Registered number
SC522787



Registered office
East Balmirmer
Arbroath

Angus

DD11 2PN




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
GLG INVESTMENTS LIMITED
REGISTERED NUMBER: SC522787

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Investments
 3 
449
940,722

Investment property
 4 
318,589
318,589

  
319,038
1,259,311

Current assets
  

Debtors: amounts falling due after more than one year
 5 
200,000
200,000

Debtors: amounts falling due within one year
 5 
654
582

Cash at bank and in hand
  
430,595
9,892

  
631,249
210,474

Creditors: amounts falling due within one year
 6 
(534,893)
(1,041,752)

Net current assets/(liabilities)
  
 
 
96,356
 
 
(831,278)

Total assets less current liabilities
  
415,394
428,033

Creditors: amounts falling due after more than one year
 7 
(216,853)
(219,726)

  

Net assets
  
198,541
208,307


Capital and reserves
  

Called up share capital 
 8 
100
100

Revaluation reserve
 9 
-
52,171

Profit and loss account
 9 
198,441
156,036

  
198,541
208,307


Page 1

 
GLG INVESTMENTS LIMITED
REGISTERED NUMBER: SC522787

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 statement of comprehensive income 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 17 October 2024.




R G Galloway
Director

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 
GLG INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
100
52,171
156,036
208,307


Comprehensive income for the period

Loss for the period

-
-
(7,766)
(7,766)

Surplus on revaluation of other fixed assets
-
(52,171)
52,171
-


Other comprehensive income for the period
-
(52,171)
52,171
-


Total comprehensive income for the period
-
(52,171)
44,405
(7,766)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,000)
(2,000)


Total transactions with owners
-
-
(2,000)
(2,000)


At 31 March 2024
100
-
198,441
198,541


The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
GLG INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
100
90,287
179,869
270,256


Comprehensive income for the year

Loss for the year

-
-
(57,949)
(57,949)

Surplus on revaluation of other fixed assets
-
(38,116)
38,116
-


Other comprehensive income for the year
-
(38,116)
38,116
-


Total comprehensive income for the year
-
(38,116)
(19,833)
(57,949)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(4,000)
(4,000)


Total transactions with owners
-
-
(4,000)
(4,000)


At 31 March 2023
100
52,171
156,036
208,307


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
GLG INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The company is limited by shares and incorporated in Scotland.  The address of the registered office is East Balmirmer, Arbroath, Angus, DD11 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 5

 
GLG INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
940,722


Additions
5,682


Disposals
(872,490)


Revaluations
(73,465)



At 31 March 2024
449




Page 6

 
GLG INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
318,589



At 31 March 2024
318,589

The 2024 valuations were made by the directors , on an open market value for existing use basis.






5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
200,000
200,000

200,000
200,000


2024
2023
£
£

Due within one year

Other debtors
-
6

Prepayments and accrued income
654
576

654
582


Page 7

 
GLG INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
9
369,490

Bank loans
3,152
3,431

Trade creditors
915
(332)

Other taxation and social security
10,062
221

Other creditors
518,353
666,028

Accruals and deferred income
2,402
2,914

534,893
1,041,752


The loan is secured over the investment properties and a floating charge.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
216,853
219,726

216,853
219,726


The loan is secured over the investment properties and a floating charge.


8.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Reserves

Revaluation reserve

Unrealised gains on fixed asset investments 

Profit and loss account

Distributable reserves 


Page 8