Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity22023-04-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC549419 2023-04-01 2024-03-31 SC549419 2022-04-01 2023-03-31 SC549419 2024-03-31 SC549419 2023-03-31 SC549419 c:Director1 2023-04-01 2024-03-31 SC549419 c:Director2 2023-04-01 2024-03-31 SC549419 c:RegisteredOffice 2023-04-01 2024-03-31 SC549419 d:CurrentFinancialInstruments 2024-03-31 SC549419 d:CurrentFinancialInstruments 2023-03-31 SC549419 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC549419 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC549419 d:ShareCapital 2024-03-31 SC549419 d:ShareCapital 2023-03-31 SC549419 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC549419 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC549419 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC549419 c:OrdinaryShareClass1 2024-03-31 SC549419 c:FRS102 2023-04-01 2024-03-31 SC549419 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC549419 c:FullAccounts 2023-04-01 2024-03-31 SC549419 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC549419 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC549419










GLG DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
GLG DEVELOPMENTS LIMITED
 

COMPANY INFORMATION


DIRECTORS
R R Galloway 
R G Galloway 




REGISTERED NUMBER
SC549419



REGISTERED OFFICE
East Balmirmer
Arbroath

Angus

DD11 2PN




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
GLG DEVELOPMENTS LIMITED
REGISTERED NUMBER: SC549419

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

  

Current assets
  

Stocks
  
185,061
175,747

Debtors: amounts falling due within one year
 4 
526
-

Cash at bank and in hand
  
9,934
23,929

  
195,521
199,676

Creditors: amounts falling due within one year
 5 
(203,405)
(205,816)

Net current liabilities
  
 
 
(7,884)
 
 
(6,140)

Total assets less current liabilities
  
(7,884)
(6,140)

  

Net liabilities
  
(7,884)
(6,140)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(7,984)
(6,240)

  
(7,884)
(6,140)


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 year 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 income and retained earnings 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 R Galloway
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
GLG DEVELOPMENTS LIMITED
 

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

1.


General information

The company is private company, limited by shares and incorporated in Scotland with number SC549419.  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

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to provide financial support to the company.

 
2.3

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:

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Stocks

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 2

 
GLG DEVELOPMENTS LIMITED
 

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

4.


Debtors

2024
2023
£
£


Other debtors
130
-

Prepayments and accrued income
396
-

526
-



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
200,000
200,000

Trade creditors
780
-

Other creditors
1,891
5,082

Accruals and deferred income
734
734

203,405
205,816



6.


Share capital

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



100 Ordinary shares of £1.00 each
100
100



Page 3