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REGISTERED NUMBER: SC121506 (Scotland)















Unaudited Financial Statements

for the Period 1 January 2023 to 30 December 2023

for

Glen Coaches Limited

Glen Coaches Limited (Registered number: SC121506)






Contents of the Financial Statements
for the Period 1 January 2023 to 30 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glen Coaches Limited

Company Information
for the Period 1 January 2023 to 30 December 2023







DIRECTOR: Samuel McPherson





SECRETARY: Samuel McPherson





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC121506 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Glen Coaches Limited (Registered number: SC121506)

Balance Sheet
30 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,128 20,160

CURRENT ASSETS
Debtors 5 251,031 168,006
Cash at bank 1,873 19,338
252,904 187,344
CREDITORS
Amounts falling due within one year 6 73,556 84,922
NET CURRENT ASSETS 179,348 102,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,476

122,582

CREDITORS
Amounts falling due after more than one
year

7

(14,179

)

(24,174

)

PROVISIONS FOR LIABILITIES 8 (1,575 ) (2,073 )
NET ASSETS 179,722 96,335

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings 129,722 46,335
SHAREHOLDERS' FUNDS 179,722 96,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2023 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.

Glen Coaches Limited (Registered number: SC121506)

Balance Sheet - continued
30 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





Samuel McPherson - Director


Glen Coaches Limited (Registered number: SC121506)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 December 2023

1. STATUTORY INFORMATION

Glen Coaches 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Glen Coaches Limited (Registered number: SC121506)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 January 2023
and 30 December 2023 31,500
DEPRECIATION
At 1 January 2023 11,340
Charge for period 4,032
At 30 December 2023 15,372
NET BOOK VALUE
At 30 December 2023 16,128
At 31 December 2022 20,160

Glen Coaches Limited (Registered number: SC121506)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 30 December 2023 29,000
DEPRECIATION
At 1 January 2023 10,440
Charge for period 3,712
At 30 December 2023 14,152
NET BOOK VALUE
At 30 December 2023 14,848
At 31 December 2022 18,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,657 20,662
Amounts owed by participating interests 227,374 147,344
251,031 168,006

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,156 12,889
Taxation and social security 30,027 30,027
Other creditors 28,373 32,006
73,556 84,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 14,179 24,174

Glen Coaches Limited (Registered number: SC121506)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 December 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,575 2,073

Deferred
tax
£   
Balance at 1 January 2023 2,073
Provided during period (498 )
Balance at 30 December 2023 1,575

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary £1 50,000 50,000

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Pride Coaches Ltd.