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REGISTERED NUMBER: SC026751 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

William Glen Ltd

William Glen Ltd (Registered number: SC026751)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


William Glen Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M B Cantlay
Mrs L Cantlay
Mrs D R Cantlay





SECRETARY: Mrs L Cantlay





REGISTERED OFFICE: Callandrade Lodge
Invertrossachs Road
Callander





REGISTERED NUMBER: SC026751 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

William Glen Ltd (Registered number: SC026751)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,875 86,091
Investments 5 666,360 1,123,003
731,235 1,209,094

CURRENT ASSETS
Debtors 6 443,585 172,930
Cash at bank and in hand 192,415 36,252
636,000 209,182
CREDITORS
Amounts falling due within one year 7 251,849 258,494
NET CURRENT ASSETS/(LIABILITIES) 384,151 (49,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,115,386

1,159,782

CREDITORS
Amounts falling due after more than one
year

8

41,292

52,314
NET ASSETS 1,074,094 1,107,468

CAPITAL AND RESERVES
Called up share capital 112,868 112,868
Retained earnings 961,226 994,600
SHAREHOLDERS' FUNDS 1,074,094 1,107,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

William Glen Ltd (Registered number: SC026751)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





M B Cantlay - Director


William Glen Ltd (Registered number: SC026751)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

William Glen Ltd 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 consolidation
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 as modified by the revaluation of certain assets.

The accounts do not consolidate the USA and Canadian subsidiaries referred to in the Notes.

Turnover
Turnover is the total amount receivable net of VAT in respect of goods sold. All turnover derives in the UK.

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 - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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
The company operates a defined contribution pension scheme the assets of which are held independently from those of the company. Payments to the defined contribution pension scheme are charged to the Profit and Loss Account in the year in which they are payable.

William Glen Ltd (Registered number: SC026751)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs
The company operates a defined contribution pension scheme the assets of which are held independently from those of the company. Payments to the defined contribution pension scheme are charged to the Profit and Loss Account in the year in which they are payable.

Listed investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 149,084
DEPRECIATION
At 1 February 2023 62,993
Charge for year 21,216
At 31 January 2024 84,209
NET BOOK VALUE
At 31 January 2024 64,875
At 31 January 2023 86,091

William Glen Ltd (Registered number: SC026751)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. FIXED ASSET INVESTMENTS


The subsidiary companies are:-
William Glen & Son Inc. Retailer of Scottish Goods Registered in USA
William Glen & Son Canada Ltd. Retailer of Scottish Goods Registered in Canada

As stated in Note 1, the accounts of William Glen & Son Inc. and William Glen & Son Canada Ltd. have not been consolidated.

The cost of shares held William Glen & Son Inc. of £132 (representing 1,000 stock units of $0.20) is included in investments, as above, as is a loan which stood at £(278,420) at 31st January 2024 (2023 - £158,204). The cost of shares held in William Glen & Son Canada Ltd. of £1 is included in investments, as above, as is a loan which stood at £147,452, at 31st January 2024 (2023 - £160,437)

Cairngorm
William Glen Scottish
& Son Inc. Imports Ltd
£    £   
Aggregate amount of capital and reserves, representing the Investment on
the equity method of valuation, at 31st January 2024

558,101

133,445
Net Profit in the year to 31st January 2024 98,462 12,840


Both results have been extracted from draft accounts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,612 1,800
Other debtors 440,973 171,130
443,585 172,930

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,460 5,460
Trade creditors 15,972 12,407
Taxation and social security 2,034 2,476
Other creditors 228,383 238,151
251,849 258,494

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 5,232 11,064
Other creditors 36,060 41,250
41,292 52,314

William Glen Ltd (Registered number: SC026751)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RELATED PARTY DISCLOSURES

The company and William Glen & Son Ltd. are related parties due to the common involvement of Mr. M. Cantlay. At 31st January 2024 the total amount due to William Glen & Son Limited was £116,482 ( 2023 - £118,587)

10. ULTIMATE CONTROLLING PARTY

The Directors consider that the Ultimate Holding Company is William Glen & Son Limited. As Mr. M. Cantlay has a controlling interest in the share capital of the Ultimate Holding Company he is considered to be the Ultimate Controlling Related Party.