IRIS Accounts Production v24.2.0.383 SC432810 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4328102022-12-31SC4328102023-12-31SC4328102023-01-012023-12-31SC4328102021-12-31SC4328102022-01-012022-12-31SC4328102022-12-31SC432810ns15:Scotland2023-01-012023-12-31SC432810ns14:PoundSterling2023-01-012023-12-31SC432810ns10:Director12023-01-012023-12-31SC432810ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC432810ns10:SmallEntities2023-01-012023-12-31SC432810ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC432810ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC432810ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC432810ns10:FullAccounts2023-01-012023-12-31SC432810ns10:Director32023-01-012023-12-31SC432810ns10:Director22023-01-012023-12-31SC432810ns10:RegisteredOffice2023-01-012023-12-31SC432810ns5:CurrentFinancialInstruments2023-12-31SC432810ns5:CurrentFinancialInstruments2022-12-31SC432810ns5:Non-currentFinancialInstruments2023-12-31SC432810ns5:Non-currentFinancialInstruments2022-12-31SC432810ns5:ShareCapital2023-12-31SC432810ns5:ShareCapital2022-12-31SC432810ns5:RetainedEarningsAccumulatedLosses2023-12-31SC432810ns5:RetainedEarningsAccumulatedLosses2022-12-31SC432810ns5:PlantMachinery2023-01-012023-12-31SC432810ns5:PlantMachinery2022-12-31SC432810ns5:PlantMachinery2023-12-31SC432810ns5:PlantMachinery2022-12-31SC432810ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC432810ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC432810 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Glasgow Mortgage Company Limited

The Glasgow Mortgage Company Limited (Registered number: SC432810)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Glasgow Mortgage Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M F O'Neill
Mrs A M Pirie
Mrs E Stevenson





REGISTERED OFFICE: 7 Clairmont Gardens
Glasgow
G3 7LW





REGISTERED NUMBER: SC432810 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

The Glasgow Mortgage Company Limited (Registered number: SC432810)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 548 818

CURRENT ASSETS
Debtors 5 47,194 24,703
Cash at bank and in hand 265,288 431,697
312,482 456,400
CREDITORS
Amounts falling due within one year 6 (51,288 ) (85,517 )
NET CURRENT ASSETS 261,194 370,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,742

371,701

CREDITORS
Amounts falling due after more than one
year

7

(7,083

)

(12,083

)
NET ASSETS 254,659 359,618

CAPITAL AND RESERVES
Called up share capital 253 253
Retained earnings 254,406 359,365
254,659 359,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Glasgow Mortgage Company Limited (Registered number: SC432810)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mrs E Stevenson - Director


The Glasgow Mortgage Company Limited (Registered number: SC432810)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Glasgow Mortgage Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 33% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 9 ) .

The Glasgow Mortgage Company Limited (Registered number: SC432810)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 12,730
DEPRECIATION
At 1 January 2023 11,912
Charge for year 270
At 31 December 2023 12,182
NET BOOK VALUE
At 31 December 2023 548
At 31 December 2022 818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 47,194 24,703

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 39,994 74,477
Other creditors 6,294 6,040
51,288 85,517

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 7,083 12,083