Glennstein Ltd - Filleted accounts

Registered number

SC594865

Glennstein Ltd

Filleted Accounts

31 July 2025

Glennstein Ltd
Registered number:		SC594865
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		145,112			145,952

Current assets
Stocks		84,846			89,126
Cash at bank and in hand		45,104			47,158
		129,950			136,284

Creditors: amounts falling due within one year	4	(49,940)			(55,743)

Net current assets			80,010			80,541

Total assets less current liabilities			225,122			226,493

Creditors: amounts falling due after more than one year	5		(114,536)			(141,781)



Net assets			110,586			84,712

Capital and reserves
Called up share capital			100			100
Profit and loss account			110,486			84,612

Shareholders' funds			110,586			84,712

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D Glennie
Director
Approved by the board on 24 October 2025

Glennstein Ltd
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Buildings	2% on a Reducing Balance Basis
	Plant and machinery	15% on a Reducing Balance Basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			4		4


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 August 2024	156,948		12,679		169,627
	Additions	-		2,998		2,998
	At 31 July 2025	156,948		15,677		172,625

	Depreciation
	At 1 August 2024	15,137		8,538		23,675
	Charge for the year	2,913		925		3,838
	At 31 July 2025	18,050		9,463		27,513

	Net book value
	At 31 July 2025	138,898		6,214		145,112
	At 31 July 2024	141,811		4,141		145,952


4	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			5		5
	Trade creditors			24,427		37,072
	Taxation and social security costs			23,009		16,167
	Other creditors			2,499		2,499
				49,940		55,743


5	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			84,503		97,318
	Director's account - EB/MB			-		5,450
	Director's account - SB/DG			33		9,013
	Loan from director			30,000		30,000
				114,536		141,781


6	Other information

	Glennstein Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	3 Drummond Street
	Inverness
	Inverness-Shire
	IV1 1QD