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REGISTERED NUMBER: SC777931 (Scotland)














Unaudited Financial Statements

for the Period 3 August 2023 to 31 August 2024

for

Glensanda Limited

Glensanda Limited (Registered number: SC777931)






Contents of the Financial Statements
for the Period 3 August 2023 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glensanda Limited

Company Information
for the Period 3 August 2023 to 31 August 2024







DIRECTOR: A Easdale





REGISTERED OFFICE: Unit 3
Earnhill Road
Greenock
PA16 0EQ





REGISTERED NUMBER: SC777931 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

Glensanda Limited (Registered number: SC777931)

Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 20,614

CURRENT ASSETS
Debtors 5 4,276
Cash at bank 13,935
18,211
CREDITORS
Amounts falling due within one year 6 14,885
NET CURRENT ASSETS 3,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,940

CREDITORS
Amounts falling due after more than one
year

7

(12,236

)

PROVISIONS FOR LIABILITIES (614 )
NET ASSETS 11,090

CAPITAL AND RESERVES
Called up share capital 10
Retained earnings 11,080
11,090

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

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

Glensanda Limited (Registered number: SC777931)

Balance Sheet - continued
31 August 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 director and authorised for issue on 16 April 2025 and were signed by:





A Easdale - Director


Glensanda Limited (Registered number: SC777931)

Notes to the Financial Statements
for the Period 3 August 2023 to 31 August 2024

1. STATUTORY INFORMATION

Glensanda 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 for services supplied, net of discounts and Value Added Tax.

Revenue is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on use of the service; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Taxation
The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Glensanda Limited (Registered number: SC777931)

Notes to the Financial Statements - continued
for the Period 3 August 2023 to 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 21,510
At 31 August 2024 21,510
DEPRECIATION
Charge for period 896
At 31 August 2024 896
NET BOOK VALUE
At 31 August 2024 20,614

Glensanda Limited (Registered number: SC777931)

Notes to the Financial Statements - continued
for the Period 3 August 2023 to 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 21,510
At 31 August 2024 21,510
DEPRECIATION
Charge for period 896
At 31 August 2024 896
NET BOOK VALUE
At 31 August 2024 20,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 4,276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 3,180
Taxation and social security 1,985
Other creditors 9,720
14,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 12,236