REGISTERED NUMBER: SC689637 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Glenmore Group Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

91,170

102,934

Tangible assets

5

318,114

305,190

409,284

408,124

CURRENT ASSETS

Stocks

71,580

78,815

Debtors

6

89,655

77,966

Cash at bank

27,979

100,394

189,214

257,175

CREDITORS

Amounts falling due within one year

7

(361,812

)

(347,261

)

NET CURRENT LIABILITIES

(172,598

)

(90,086

)

TOTAL ASSETS LESS CURRENT LIABILITIES

236,686

318,038

CREDITORS

Amounts falling due after more than one year

8

(859,740

)

(633,911

)

PROVISIONS FOR LIABILITIES

(27,459

)

(27,298

)

NET LIABILITIES

(650,513

)

(343,171

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(650,523

)

(343,181

)

(650,513

)

(343,171

)

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 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 29 September 2025 and were signed on its behalf by:

Mr R Paterson - Director

1.	STATUTORY INFORMATION

Glenmore Group Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC689637. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, Scotland, FK3 8WX.

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 net invoiced sales of goods in respect of a plant nursery excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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 and depreciation

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

Land and buildings

-

10% on cost

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern

The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors' belief that the company should prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

117,638

AMORTISATION

At 1 January 2024

14,704

Charge for year

11,764

At 31 December 2024

26,468

NET BOOK VALUE

At 31 December 2024

91,170

At 31 December 2023

102,934

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

120,711

332,086

452,797

Additions

2,112

90,319

92,431

Disposals

-

(13,096

)

(13,096

)

At 31 December 2024

122,823

409,309

532,132

DEPRECIATION

At 1 January 2024

24,294

123,313

147,607

Charge for year

12,088

62,289

74,377

Eliminated on disposal

-

(7,966

)

(7,966

)

At 31 December 2024

36,382

177,636

214,018

NET BOOK VALUE

At 31 December 2024

86,441

231,673

318,114

At 31 December 2023

96,417

208,773

305,190

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

56,532

59,705

Amounts owed by related parties

31,085

14,225

Other debtors

2,038

4,036

89,655

77,966

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

68,783

119,986

Amounts owed to related parties

214,828

174,904

Taxation and social security

29,516

48,731

Other creditors

48,685

3,640

361,812

347,261

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to related parties

325,000

325,000

Other creditors

534,740

308,911

859,740

633,911

9.	RELATED PARTY DISCLOSURES

At 31 December 2024, amounts owed by entities with common directors and shareholders was £31,085 (2023: £14,225).

At 31 December 2024, amounts owed to entities with common directors and shareholders was £539,828 (2023: £499,904).