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REGISTERED NUMBER: SC709052 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Glenfinnan Enterprises Ltd

Glenfinnan Enterprises Ltd (Registered number: SC709052)






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

Chartered Accountants' Report 5

Glenfinnan Enterprises Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: F J Gibson
D W Grieve
I A Henderson





REGISTERED OFFICE: The Jetty Hut
Glenfinnan
Glenfinnan
PH37 4LT





REGISTERED NUMBER: SC709052 (Scotland)





ACCOUNTANTS: Campbell Stewart MacLennan & Co
Chartered Accountants
Unit 3, Broom Place
Portree
Highland
IV51 9HL

Glenfinnan Enterprises Ltd (Registered number: SC709052)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,348 -

CURRENT ASSETS
Debtors 5 57,971 39,856
Cash at bank 94,333 49,145
152,304 89,001
CREDITORS
Amounts falling due within one year 6 22,382 20,763
NET CURRENT ASSETS 129,922 68,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,270

68,238

ACCRUALS AND DEFERRED INCOME 1,372 1,200
NET ASSETS 155,898 67,038

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 155,897 67,037
155,898 67,038

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 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 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 26 February 2025 and were signed on its behalf by:





F J Gibson - Director


Glenfinnan Enterprises Ltd (Registered number: SC709052)

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

1. STATUTORY INFORMATION

Glenfinnan Enterprises 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.

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 charge at 6% and 7% on a straight line basis.

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 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 3 (2023 - NIL ) .

Glenfinnan Enterprises Ltd (Registered number: SC709052)

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 29,163
At 31 May 2024 29,163
DEPRECIATION
Charge for year 1,815
At 31 May 2024 1,815
NET BOOK VALUE
At 31 May 2024 27,348

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 52,495 34,380
Amounts owed by group undertakings 5,476 5,476
57,971 39,856

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors 8,980 3,803
Taxation and social security 13,049 16,960
Other creditors 353 -
22,382 20,763

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/5/24 31/5/23
£    £   
Within one year 100 -
Between one and five years 25 -
125 -

8. RELATED PARTY DISCLOSURES

The company made charitable donations totalling £82,037 to its parent company, Glenfinnan Community Facilities SCIO during the year ended 31 May 2024.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Glenfinnan Enterprises Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glenfinnan Enterprises Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Glenfinnan Enterprises Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glenfinnan Enterprises Ltd and state those matters that we have agreed to state to the Board of Directors of Glenfinnan Enterprises Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glenfinnan Enterprises Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glenfinnan Enterprises Ltd. You consider that Glenfinnan Enterprises Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glenfinnan Enterprises Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Campbell Stewart MacLennan & Co
Chartered Accountants
Unit 3, Broom Place
Portree
Highland
IV51 9HL


26 February 2025