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REGISTERED NUMBER: SC530245 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31st March 2024

for

Glen Monarch Ltd

Glen Monarch Ltd (Registered number: SC530245)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Glen Monarch Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: R Singh





REGISTERED OFFICE: 581 Alexandra Parade
Glasgow
G31 3DB





REGISTERED NUMBER: SC530245 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Campbell Lane
Hamilton
ML3 6DB

Glen Monarch Ltd (Registered number: SC530245)

Report of the Director
for the Year Ended 31st March 2024

The director presents his report with the financial statements of the company for the year ended 31st March 2024.

DIRECTOR
R Singh held office during the whole of the period from 1st April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R Singh - Director


25th March 2025

Glen Monarch Ltd (Registered number: SC530245)

Income Statement
for the Year Ended 31st March 2024

2024 2023
Notes £    £    £    £   

TURNOVER 982,109 1,393,196

Cost of sales 820,989 1,095,431
GROSS PROFIT 161,120 297,765

Distribution costs 79,552 78,295
Administrative expenses 13,304 17,824
92,856 96,119
68,264 201,646

Other operating income 15,731 31,508
OPERATING PROFIT and
PROFIT BEFORE TAXATION 83,995 233,154

Tax on profit 24,762 44,301
PROFIT FOR THE FINANCIAL YEAR 59,233 188,853

Glen Monarch Ltd (Registered number: SC530245)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 156,024 181,560

CURRENT ASSETS
Stocks 40,000 35,792
Debtors 6 981,510 885,141
Cash at bank and in hand 76,735 4,130
1,098,245 925,063
CREDITORS
Amounts falling due within one year 7 343,404 254,991
NET CURRENT ASSETS 754,841 670,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,865

851,632

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 910,864 851,631
910,865 851,632

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 25th March 2025 and were signed by:




R Singh - Director


Glen Monarch Ltd (Registered number: SC530245)

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

1. STATUTORY INFORMATION

Glen Monarch 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 provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 13 ).

Glen Monarch Ltd (Registered number: SC530245)

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 25,536 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 96,950 126,485 223,435
DEPRECIATION
At 1st April 2023 1,939 39,936 41,875
Charge for year 1,939 23,597 25,536
At 31st March 2024 3,878 63,533 67,411
NET BOOK VALUE
At 31st March 2024 93,072 62,952 156,024
At 31st March 2023 95,011 86,549 181,560

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 1,503 1,503

Amounts falling due after more than one year:
Other debtors 980,007 883,638

Aggregate amounts 981,510 885,141

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,104 13,103
Taxation and social security 78,388 51,341
Other creditors 251,912 190,547
343,404 254,991