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REGISTERED NUMBER: SC536929 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Glendeal Brickwork Ltd

Glendeal Brickwork Ltd (Registered number: SC536929)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Glendeal Brickwork Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Mr John Paul Maguire





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





REGISTERED NUMBER: SC536929 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Glendeal Brickwork Ltd (Registered number: SC536929)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 244,058 109,886

CURRENT ASSETS
Debtors 6 1,285,684 1,176,928
Cash at bank 1,384,032 1,748,959
2,669,716 2,925,887
CREDITORS
Amounts falling due within one year 7 620,534 875,947
NET CURRENT ASSETS 2,049,182 2,049,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,293,240

2,159,826

CREDITORS
Amounts falling due after more than one
year

8

(192,321

)

(89,063

)

PROVISIONS FOR LIABILITIES (7,537 ) (7,045 )
NET ASSETS 2,093,382 2,063,718

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,093,282 2,063,618
SHAREHOLDERS' FUNDS 2,093,382 2,063,718

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

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

Glendeal Brickwork Ltd (Registered number: SC536929)

Balance Sheet - continued
30 November 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 26 May 2025 and were signed by:





Mr John Paul Maguire - Director


Glendeal Brickwork Ltd (Registered number: SC536929)

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

1. STATUTORY INFORMATION

Glendeal Brickwork 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.

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


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is derived from building and brickwork services supplied by the company.

Turnover is measured at the fair value of building and brickwork services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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.
Plant and machinery etc - 20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred. (Amount to be tailored to individual client, typically between £1k and £5k).

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.


Glendeal Brickwork Ltd (Registered number: SC536929)

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

3. 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 122,227
Additions 241,605
Disposals (86,920 )
At 30 November 2024 276,912
DEPRECIATION
At 1 December 2023 12,341
Charge for year 21,695
Eliminated on disposal (1,182 )
At 30 November 2024 32,854
NET BOOK VALUE
At 30 November 2024 244,058
At 30 November 2023 109,886

Glendeal Brickwork Ltd (Registered number: SC536929)

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

5. 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
At 1 December 2023 122,227
Additions 241,605
Disposals (86,920 )
At 30 November 2024 276,912
DEPRECIATION
At 1 December 2023 12,341
Charge for year 21,695
Eliminated on disposal (1,182 )
At 30 November 2024 32,854
NET BOOK VALUE
At 30 November 2024 244,058
At 30 November 2023 109,886

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 279,281 269,662
Amounts owed by group undertakings 515,810 241,703
Other debtors 490,593 665,563
1,285,684 1,176,928

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 24,896 10,728
Trade creditors 9,046 2,198
Amounts owed to group undertakings 249,545 37,889
Taxation and social security 138,959 574,611
Other creditors 188,088 240,521
620,534 875,947

Glendeal Brickwork Ltd (Registered number: SC536929)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,667 16,664
Hire purchase contracts 185,654 72,399
192,321 89,063

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 16,667 26,664
Hire purchase contracts 210,550 83,127
227,217 109,791

The bank loan is supported by a 100% guarantee from the UK Government.

Hire purchase contracts are secured on the assets to which they relate.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mr John Paul Maguire
Balance outstanding at start of year 462,267 199,497
Amounts advanced 1,006,908 1,420,912
Amounts repaid (1,166,850 ) (1,158,142 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 302,325 462,267

11. RELATED PARTY DISCLOSURES

Glendeal Limited
A company in which J P Maguire is a director.

During the year the company advanced loans totalling £35,677 (2023 - £82,467) to Glendeal Limited.

At the year end, the balance due from Glendeal Limited was £84,092 (2023 - £48,415). There are no fixed repayment terms and no interest is charged.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Glendeal Group Limited, a company incorporated in Scotland. The company's registered office is 29 Brandon Street, Hamilton, ML3 6DA.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Glendeal Brickwork Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glendeal Brickwork Ltd for the year ended 30 November 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Glendeal Brickwork Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glendeal Brickwork Ltd and state those matters that we have agreed to state to the director of Glendeal Brickwork Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Glendeal Brickwork Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glendeal Brickwork Ltd. You consider that Glendeal Brickwork Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glendeal Brickwork Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


26 May 2025