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GLENSHIRE GROUP LTD

Registered Number
SC667897
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2024

GLENSHIRE GROUP LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

ASLAM, Amir Shahzad
ASLAM, Harris Shahzad
REHMAN, Raza

Registered Address

Glenshire House
Unit 14 Randolph Place
Kirkcaldy
KY1 2YX

Registered Number

SC667897 (Scotland)
GLENSHIRE GROUP LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments31,0401,040
1,0401,040
Current assets
Debtors3,005,5682,545,999
Cash at bank and on hand-344
3,005,5682,546,343
Creditors amounts falling due within one year(2,979,743)(2,526,050)
Net current assets (liabilities)25,82520,293
Total assets less current liabilities26,86521,333
Net assets26,86521,333
Capital and reserves
Called up share capital33
Profit and loss account26,86221,330
Shareholders' funds26,86521,333
The financial statements were approved and authorised for issue by the Board of Directors on 11 July 2025, and are signed on its behalf by:
ASLAM, Amir Shahzad
Director
Registered Company No. SC667897
GLENSHIRE GROUP LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year33
3.Fixed asset investments

Total

£
Cost or valuation
At 01 August 231,040
At 31 July 241,040
Net book value
At 31 July 241,040
At 31 July 231,040