REGISTERED NUMBER: SC493338 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gladbourne Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Howison

REGISTERED OFFICE:

12 Alva Street

Edinburgh

EH2 4QG

REGISTERED NUMBER:

SC493338 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

c/o Neil Nisbet & Co.

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Investment property

4

725,000

725,000

CURRENT ASSETS

Stocks

500,464

496,059

Debtors

5

536,573

541,611

Cash at bank and in hand

11,473

16,967

1,048,510

1,054,637

CREDITORS

Amounts falling due within one year

6

922,011

853,681

NET CURRENT ASSETS

126,499

200,956

TOTAL ASSETS LESS CURRENT LIABILITIES

851,499

925,956

CREDITORS

Amounts falling due after more than one year

7

(746,637

)

(748,860

)

PROVISIONS FOR LIABILITIES

(22,250

)

(22,250

)

NET ASSETS

82,612

154,846

CAPITAL AND RESERVES

Called up share capital

100

100

Non distributable income reserve

106,816

106,816

Retained earnings

(24,304

)

47,930

SHAREHOLDERS' FUNDS

82,612

154,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 24 September 2025 and were signed by:

M J Howison - Director

1.	STATUTORY INFORMATION

Gladbourne Estates 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

725,000

NET BOOK VALUE

At 31 December 2024

725,000

At 31 December 2023

725,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2019

38,066

Valuation in 2020

50,000

Valuation in 2022

25,000

Valuation in 2023

25,000

Cost

586,934

725,000

If the property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

586,934

586,934

The property was valued on an open market basis on 31 December 2024 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

536,573

541,611

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

117,620

129,487

Other creditors

804,391

724,194

922,011

853,681

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

746,637

748,860

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

746,637

746,637

8.	RELATED PARTY DISCLOSURES

The company was owed an amount of £535,709 by an associated company Gladbourne Developments Limited at the year end. There are no specific terms in relation to the repayment of this debt.

The company owed a director Mr M Howison £793,630 at the year end. There are no specific terms in relation to the repayment of this debt.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Howison.