Registration number: SC468976

Glen Hydro Fassfern Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8
Accountants' Report	9

Glen Hydro Fassfern Limited

Company Information

Director

Mr Jan Tosnar

Registered office

9 Reform Street Blairgowrie Perthshire PH10 6BD

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Glen Hydro Fassfern Limited

(Registration number: SC468976)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	2,195,439	2,265,838
Other financial assets	5	50	50
		2,195,489	2,265,888
Current assets
Debtors	6	146,721	210,018
Cash at bank and in hand		53,709	17,529
		200,430	227,547
Creditors: Amounts falling due within one year	7	(609,822)	(572,715)
Net current liabilities		(409,392)	(345,168)
Total assets less current liabilities		1,786,097	1,920,720
Creditors: Amounts falling due after more than one year	7	(1,576,800)	(1,725,735)
Provisions for liabilities		(257,524)	(252,780)
Net liabilities		(48,227)	(57,795)
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		(49,227)	(58,795)
Shareholders' deficit		(48,227)	(57,795)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2025
 

......................................... Mr Jan Tosnar Director

Glen Hydro Fassfern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the directors that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 31 December 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Glen Hydro Fassfern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	2.5% on cost or valuation

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

Glen Hydro Fassfern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	2,815,949	2,815,949
At 31 December 2024	2,815,949	2,815,949
Depreciation
At 1 January 2024	550,111	550,111
Charge for the year	70,399	70,399
At 31 December 2024	620,510	620,510
Carrying amount
At 31 December 2024	2,195,439	2,195,439
At 31 December 2023	2,265,838	2,265,838

5	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	50	50
At 31 December 2024	50	50
Impairment
Carrying amount
At 31 December 2024	50	50

6

Debtors

Current	2024 £	2023 £
Trade debtors	-	74,237
Prepayments	2,482	2,276
Other debtors	144,239	133,505
	146,721	210,018

Glen Hydro Fassfern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Details of non-current trade and other debtors

£106 (2023 -£106) of other debtors is classified as non current.

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	71,021	77,729
Trade creditors		65,113	-
Taxation and social security		1,285	5,460
Other creditors		472,403	489,526
		609,822	572,715

Creditors include loans and borrowings which are secured of £71,021 (2023: £77,729).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	1,576,800	1,725,735

	2024 £	2023 £
Due after more than five years
After more than five years not by instalments	1,282,828	1,403,997

	-	-