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REGISTERED NUMBER: SC285437 (Scotland)






























Financial Statements for the Year Ended 31 May 2024

for

Glendee Property Ltd

Glendee Property Ltd (Registered number: SC285437)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Glendee Property Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: D Hartley





SECRETARY: D Hartley





REGISTERED OFFICE: 6 Belvidere Road
Cults
Aberdeenshire
AB15 9HP





REGISTERED NUMBER: SC285437 (Scotland)





ACCOUNTANTS: A J Croll & Company
19 Bon Accord Crescent
Aberdeen
Aberdeenshire
AB11 6DE

Glendee Property Ltd (Registered number: SC285437)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 386,232 396,594

CURRENT ASSETS
Debtors 5 5,700 1,650
Cash at bank and in hand 2,320 401
8,020 2,051
CREDITORS
Amounts falling due within one year 6 484,522 491,684
NET CURRENT LIABILITIES (476,502 ) (489,633 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(90,270

)

(93,039

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (90,271 ) (93,040 )
SHAREHOLDERS' FUNDS (90,270 ) (93,039 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 5 February 2025 and were signed by:





D Hartley - Director


Glendee Property Ltd (Registered number: SC285437)

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

1. STATUTORY INFORMATION

Glendee Property 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 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.

These accounts are prepared on a going concern basis because of the continuing financial support provided by the director.

At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

Glendee Property Ltd (Registered number: SC285437)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023
and 31 May 2024 518,438 4,864 6,360
DEPRECIATION
At 1 June 2023 121,844 4,864 6,360
Charge for year 10,362 - -
At 31 May 2024 132,206 4,864 6,360
NET BOOK VALUE
At 31 May 2024 386,232 - -
At 31 May 2023 396,594 - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 6,500 1,196 537,358
DEPRECIATION
At 1 June 2023 6,500 1,196 140,764
Charge for year - - 10,362
At 31 May 2024 6,500 1,196 151,126
NET BOOK VALUE
At 31 May 2024 - - 386,232
At 31 May 2023 - - 396,594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 4,050 -
Other debtors 1,650 1,650
5,700 1,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 3,080 1,817
Other creditors 481,442 489,867
484,522 491,684

Glendee Property Ltd (Registered number: SC285437)

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

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Hartley.