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REGISTERED NUMBER: SC061066 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Glen Travel Limited

Glen Travel Limited (Registered number: SC061066)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glen Travel Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: D D Glen
A J Glen
D K Glen





SECRETARY: D D Glen





REGISTERED OFFICE: 227 Glasgow Road
Blantyre
Glasgow
G72 0YS





REGISTERED NUMBER: SC061066 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Glen Travel Limited (Registered number: SC061066)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 27,460 32,087
Tangible assets 5 57,027 56,271
84,487 88,358

CURRENT ASSETS
Debtors 6 159,461 203,849
Investments 7 147,598 106,305
Cash at bank and in hand 807,830 898,436
1,114,889 1,208,590
CREDITORS
Amounts falling due within one year 8 (775,521 ) (898,865 )
NET CURRENT ASSETS 339,368 309,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

423,855

398,083

CREDITORS
Amounts falling due after more than one
year

9

(59,882

)

(66,000

)

PROVISIONS FOR LIABILITIES 12 (18,260 ) (13,999 )
NET ASSETS 345,713 318,084

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Fair value reserve 13 12,012 -
Retained earnings 273,701 258,084
SHAREHOLDERS' FUNDS 345,713 318,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Glen Travel Limited (Registered number: SC061066)

Balance Sheet - continued
30 September 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 19 February 2025 and were signed on its behalf by:





A J Glen - Director


Glen Travel Limited (Registered number: SC061066)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Glen Travel 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.

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following basis:

Computer Software - 15% on reducing balance

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 etc - 25% on reducing balance and 15% on reducing balance

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due

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.


Glen Travel Limited (Registered number: SC061066)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 63,926
AMORTISATION
At 1 October 2023 31,839
Charge for year 4,627
At 30 September 2024 36,466
NET BOOK VALUE
At 30 September 2024 27,460
At 30 September 2023 32,087

Glen Travel Limited (Registered number: SC061066)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 346,199
Additions 12,307
At 30 September 2024 358,506
DEPRECIATION
At 1 October 2023 289,928
Charge for year 11,551
At 30 September 2024 301,479
NET BOOK VALUE
At 30 September 2024 57,027
At 30 September 2023 56,271

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 56,176 112,096
Other debtors 103,285 91,753
159,461 203,849

7. CURRENT ASSET INVESTMENTS
30.9.24 30.9.23
£    £   
Unlisted investments 147,598 106,305

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 529,284 562,200
Taxation and social security 46,220 105,931
Other creditors 200,017 230,734
775,521 898,865

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other creditors 59,882 66,000

Glen Travel Limited (Registered number: SC061066)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Other loans 58,927 119,732

Amounts falling due between two and five years:
Other loans - 2-5 years 59,882 66,000

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.24 30.9.23
£    £   
Within one year 28,000 28,000
Between one and five years 140,000 140,000
In more than five years 65,333 93,333
233,333 261,333

12. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 18,260 13,999

Deferred
tax
£   
Balance at 1 October 2023 13,999
Provided during year 4,261
Balance at 30 September 2024 18,260

13. RESERVES
Fair
value
reserve
£   
Fair value 16,015
Deferred tax (4,003 )

At 30 September 2024 12,012

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance owed by the Directors to the company as at 30 September 2024 was NIL (2023:£4,750)

Glen Travel Limited (Registered number: SC061066)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

15. RELATED PARTY TRANSACTIONS

During the year there was rent of £28,000 ( 2023: £4,667) paid to Glen Travel shareholders pension scheme.

16. BILLING & SETTLEMENT PLAN UK

The balance owed to BSP at 30 September 2024 was £103,157 (2023:£75,012)