REGISTERED NUMBER: SC271866 (Scotland)

Glendale Park Limited

Financial Statements For The Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M C Levings

K E A Levings

SECRETARY:

Mrs M C Levings

REGISTERED OFFICE:

1st Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

REGISTERED NUMBER:

SC271866 (Scotland)

ACCOUNTANTS:

The Long Partnership

1st Floor

Robertson House

Shore Street

Inverness

Highland

IV1 1NF

FIXED ASSETS

Tangible assets

4

1,929

2,368

CURRENT ASSETS

Stocks

55,000

55,000

Debtors

5

585

1,082

Cash at bank

13,622

11,055

69,207

67,137

CREDITORS

Amounts falling due within one year

6

206,060

193,743

NET CURRENT LIABILITIES

(136,853

)

(126,606

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(134,924

)

(124,238

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

(134,926

)

(124,240

)

SHAREHOLDERS' FUNDS

(134,924

)

(124,238

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 7 July 2025 and were signed on its behalf by:

K E A Levings - Director

1.	STATUTORY INFORMATION

Glendale Park 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

At the balance sheet date, the company had net current liabilities of £136,853 (2024 - £126,606 )and net liabilities of £134,924 (2024 - £124238) . The directors considers that it is appropriate to prepare the accounts under the going concern basis as they have agreed not to seek repayment of their directors loan of £185,060 in preference to other creditors.

On this basis, the directors considers it appropriate to prepare the accounts on the going concern basis.

Turnover

Turnover represents net invoiced sales of properties, excluding value added tax.

Tangible fixed assets

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

Equipment 25% on reducing balance

Computer equipment 33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

Equipment

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

2,697

6,718

410

9,825

DEPRECIATION

At 1 April 2024

1,164

5,883

410

7,457

Charge for year

230

209

-

439

At 31 March 2025

1,394

6,092

410

7,896

NET BOOK VALUE

At 31 March 2025

1,303

626

-

1,929

At 31 March 2024

1,533

835

-

2,368

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

VAT

585

1,082

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Sundry creditors

20,000

20,000

Directors' current accounts

185,060

172,743

Accrued expenses

1,000

1,000

206,060

193,743

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

1

2

2

8.

RESERVES

Retained

earnings

£

At 1 April 2024

(124,240

)

Deficit for the year

(10,686

)

At 31 March 2025

(134,926

)