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REGISTERED NUMBER: SC184633 (Scotland)




















Glenfinlas Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






Glenfinlas Limited (Registered number: SC184633)






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


Glenfinlas Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: R G W Campbell
M P Mackenzie-Robinson





SECRETARY: R G W Campbell





REGISTERED OFFICE: 51 High Street
Haddington
East Lothian
EH41 3EE





REGISTERED NUMBER: SC184633 (Scotland)





ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX

Glenfinlas Limited (Registered number: SC184633)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 66,946 58,307
66,946 58,307

CURRENT ASSETS
Stocks 30,260 33,507
Debtors 6 39,567 39,658
Cash at bank and in hand 35,767 31,932
105,594 105,097
CREDITORS
Amounts falling due within one year 7 303,487 333,434
NET CURRENT LIABILITIES (197,893 ) (228,337 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(130,947

)

(170,030

)

CREDITORS
Amounts falling due after more than
one year

8

11,664

-
NET LIABILITIES (142,611 ) (170,030 )

Glenfinlas Limited (Registered number: SC184633)

Balance Sheet - continued
30 September 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (142,613 ) (170,032 )
(142,611 ) (170,030 )

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.

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 18 June 2025 and were signed on its behalf by:





R G W Campbell - Director


Glenfinlas Limited (Registered number: SC184633)

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

1. STATUTORY INFORMATION

Glenfinlas 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.

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 represents from income from retail shop and cafés.

Turnover from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods has transferred to the buyer.

Goodwill
Goodwill being the amount paid in connection with the acquisition of the business, has been evenly amortised over its estimated useful life of 4 years.

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.

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 - 25% on cost and 20% on reducing balance

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.


Glenfinlas Limited (Registered number: SC184633)

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.

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.

Going concern
The financial statements have been prepared on the going concern principle which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its directors and creditors. The directors will continue to support the company and are confident of the continued support of creditors.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

Glenfinlas Limited (Registered number: SC184633)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 27,834
AMORTISATION
At 1 October 2023
and 30 September 2024 27,834
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 141,764
Additions 27,814
Disposals (10,800 )
At 30 September 2024 158,778
DEPRECIATION
At 1 October 2023 83,457
Charge for year 19,175
Eliminated on disposal (10,800 )
At 30 September 2024 91,832
NET BOOK VALUE
At 30 September 2024 66,946
At 30 September 2023 58,307

Glenfinlas Limited (Registered number: SC184633)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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
Additions 25,055
At 30 September 2024 25,055
DEPRECIATION
Charge for year 6,264
At 30 September 2024 6,264
NET BOOK VALUE
At 30 September 2024 18,791

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 95 186
Other debtors 39,472 39,472
39,567 39,658

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 8,234 -
Trade creditors 6,054 10,007
Taxation and social security 36,917 29,876
Other creditors 252,282 293,551
303,487 333,434

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 11,664 -

The Bank of Scotland holds a bond and floating charge over the assets of the company.

Glenfinlas Limited (Registered number: SC184633)

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

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,234 -
Between one and five years 11,664 -
19,898 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 45,440 58,940
Between one and five years 122,400 167,840
167,840 226,780

10. SECURITY

A bond and floating charge was created 19 October 2001 in favour of the Bank of Scotland, over the all assets of the company.