GL Langbury Limited SC564493 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of a bar and restaurant. The company ceased to trade 29 February 2024. Digita Accounts Production Advanced 6.30.9574.0 true SC564493 2023-05-01 2024-04-30 SC564493 2024-04-30 SC564493 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC564493 core:CurrentFinancialInstruments 2024-04-30 SC564493 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC564493 core:Non-currentFinancialInstruments 2024-04-30 SC564493 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC564493 core:FurnitureFittingsToolsEquipment 2024-04-30 SC564493 core:LandBuildings 2024-04-30 SC564493 core:OtherPropertyPlantEquipment 2024-04-30 SC564493 bus:SmallEntities 2023-05-01 2024-04-30 SC564493 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC564493 bus:FilletedAccounts 2023-05-01 2024-04-30 SC564493 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC564493 bus:RegisteredOffice 2023-05-01 2024-04-30 SC564493 bus:Director2 2023-05-01 2024-04-30 SC564493 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC564493 core:Buildings 2023-05-01 2024-04-30 SC564493 core:FurnitureFittings 2023-05-01 2024-04-30 SC564493 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC564493 core:LandBuildings 2023-05-01 2024-04-30 SC564493 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC564493 core:PlantMachinery 2023-05-01 2024-04-30 SC564493 countries:Scotland 2023-05-01 2024-04-30 SC564493 2023-04-30 SC564493 core:FurnitureFittingsToolsEquipment 2023-04-30 SC564493 core:LandBuildings 2023-04-30 SC564493 core:OtherPropertyPlantEquipment 2023-04-30 SC564493 2022-05-01 2023-04-30 SC564493 2023-04-30 SC564493 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC564493 core:CurrentFinancialInstruments 2023-04-30 SC564493 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC564493 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 SC564493 core:Non-currentFinancialInstruments 2023-04-30 SC564493 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC564493 core:FurnitureFittingsToolsEquipment 2023-04-30 SC564493 core:LandBuildings 2023-04-30 SC564493 core:OtherPropertyPlantEquipment 2023-04-30 SC564493 core:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC564493

GL Langbury Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

GL Langbury Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

GL Langbury Limited

(Registration number: SC564493)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

30,601

Current assets

 

Stocks

5

-

5,120

Debtors

6

24,710

26,315

Cash at bank and in hand

 

-

26,586

 

24,710

58,021

Creditors: Amounts falling due within one year

7

(97,237)

(107,424)

Net current liabilities

 

(72,527)

(49,403)

Total assets less current liabilities

 

(72,527)

(18,802)

Creditors: Amounts falling due after more than one year

7

(40,585)

(46,343)

Net liabilities

 

(113,112)

(65,145)

Capital and reserves

 

Retained earnings

(113,112)

(65,145)

Shareholders' deficit

 

(113,112)

(65,145)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
E Norbury
Director

 

GL Langbury Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Fairways
Abbotsford Road
North Berwick
EH39 5DB

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold improvements

Over 15 years straight line

Plant and machinery

10% straight line

Fixtures and fittings

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

GL Langbury Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

GL Langbury Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

25,623

11,524

18,252

55,399

Disposals

(25,623)

(11,524)

(18,252)

(55,399)

At 30 April 2024

-

-

-

-

Depreciation

At 1 May 2023

10,237

6,323

8,238

24,798

Charge for the year

1,706

1,153

1,825

4,684

Eliminated on disposal

(11,943)

(7,476)

(10,063)

(29,482)

At 30 April 2024

-

-

-

-

Carrying amount

At 30 April 2024

-

-

-

-

At 30 April 2023

15,386

5,201

10,014

30,601

Included within the net book value of land and buildings above is £Nil (2023 - £15,386) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

-

5,120

6

Debtors

Current

2024
£

2023
£

Other debtors

24,710

26,315

 

24,710

26,315

 

GL Langbury Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

8,660

8,660

Trade creditors

 

-

12,335

Taxation and social security

 

-

7,871

Other creditors

 

1,380

3,080

Directors loan account

 

87,197

75,478

 

97,237

107,424

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

40,585

46,343

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

40,585

46,343

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,660

8,660

9

Related party transactions

At 30 April 2024 the company was due a loan to the directors of £87,197 (2023 - £75,478). This amount is interest free and repayable on demand.