| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| GLENQUEST LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| GLENQUEST LIMITED |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| GLENQUEST LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 AUGUST 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlantic House |
| 1a Cadogan Street |
| Glasgow |
| G2 6QE |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| STATEMENT OF FINANCIAL POSITION |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Glenquest Limited is a private company, limited by shares, registered in Scotland, registration number SC384296. The registered office is 109 Douglas Street, Glasgow, G2 4HB . |
| The principal activity of the company is an investment company. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentational and functional currency of the financial statements is Pounds Sterling (£). |
| Significant judgements and estimates |
| In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
| There are no significant judgements or estimates used in the preparation of these accounts. |
| Financial instruments |
| The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash balances. |
| Creditors |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Provisions |
| Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
| Listed Investments |
| Listed investments are measured at fair value with changes in fair value recognised in profit or loss. |
| The fair value is the price that would be received if an asset is sold in an orderly transaction between market participants at the measurement date. The fair value of assets traded in an active market is based on quoted market prices at the close of trading on the reporting date. For quoted financial assets the valuation is based on the closing bid price. |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| GLENQUEST LIMITED (REGISTERED NUMBER: SC384296) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2024 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 31 August 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2013 | 269,584 |
| Valuation in 2014 | 170,878 |
| Valuation in 2015 | 149,303 |
| Valuation in 2016 | 28,690 |
| Valuation in 2017 | 110,305 |
| Valuation in 2018 | 41,288 |
| Valuation in 2019 | 386,730 |
| Valuation in 2020 | (367,039 | ) |
| Valuation in 2021 | (10,426 | ) |
| Valuation in 2022 | 463,638 |
| Cost | 2,127,571 |
| 3,370,522 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 September 2023 |
| Fair value transfer | 340,916 |
| At 31 August 2024 |