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REGISTERED NUMBER: SC273668 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Garioch Glazing Limited

Garioch Glazing Limited (Registered number: SC273668)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

Garioch Glazing Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Robertson
Mrs S Robertson





SECRETARY: Mrs S Robertson





REGISTERED OFFICE: 55-57 West High Street
INVERURIE
AB51 3QQ





REGISTERED NUMBER: SC273668 (Scotland)





ACCOUNTANTS: Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ

Garioch Glazing Limited (Registered number: SC273668)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 76,378 35,204
76,378 35,204

CURRENT ASSETS
Stocks 95,000 102,000
Debtors 6 131,667 98,103
Cash at bank and in hand 346,694 319,463
573,361 519,566
CREDITORS
Amounts falling due within one
year

7

(355,084

)

(364,185

)
NET CURRENT ASSETS 218,277 155,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

294,655

190,585

PROVISIONS FOR LIABILITIES 8 (19,095 ) (6,689 )
NET ASSETS 275,560 183,896

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 275,460 183,796
SHAREHOLDERS' FUNDS 275,560 183,896

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

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

Garioch Glazing Limited (Registered number: SC273668)

Balance Sheet - continued
31 March 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 10 March 2025 and were signed on its behalf by:




Mrs S Robertson - Director



N Robertson - Director


Garioch Glazing Limited (Registered number: SC273668)

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

1. STATUTORY INFORMATION

Garioch Glazing 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 represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Garioch Glazing Limited (Registered number: SC273668)

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

2. ACCOUNTING POLICIES - continued
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.

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 773,000
AMORTISATION
At 1 April 2023
and 31 March 2024 773,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 115,363 9,730 76,945 15,408 217,446
Additions 48,236 - 7,500 790 56,526
At 31 March 2024 163,599 9,730 84,445 16,198 273,972
DEPRECIATION
At 1 April 2023 88,334 7,423 72,480 14,005 182,242
Charge for year 11,292 347 2,991 722 15,352
At 31 March 2024 99,626 7,770 75,471 14,727 197,594
NET BOOK VALUE
At 31 March 2024 63,973 1,960 8,974 1,471 76,378
At 31 March 2023 27,029 2,307 4,465 1,403 35,204

Garioch Glazing Limited (Registered number: SC273668)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 124,261 91,357
Prepayments 7,406 6,746
131,667 98,103

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 72,236 93,065
Tax 72,386 40,125
PAYE 3,649 1,585
VAT 6,767 18,160
Other creditors 208 152
Directors' loan accounts 179,917 185,121
Accruals and deferred income 650 8,467
Accrued expenses 19,271 17,510
355,084 364,185

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 19,095 6,689

Deferred
tax
£   
Balance at 1 April 2023 6,689
Provided during year 12,406
Balance at 31 March 2024 19,095

9. RELATED PARTY DISCLOSURES

During the year the directors' decreased the amount loaned to the company by £5,203 leaving a balance of £179,917 (2023 £185,120). This loan is unsecured, interest free and repayable on demand.











10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Garioch Glazing Limited

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 Garioch Glazing Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Garioch Glazing Limited, 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 Garioch Glazing Limited and state those matters that we have agreed to state to the Board of Directors of Garioch Glazing Limited, as a body, in this report. 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 Garioch Glazing Limited 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 Garioch Glazing Limited. You consider that Garioch Glazing Limited 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 Garioch Glazing Limited. 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.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.






Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ


10 March 2025