REGISTERED NUMBER: SC220294 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Glassel Community Company Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J Smith

Mrs B Smith

I Wilson

Mrs J Wilson

A Brodie

SECRETARY:

Mrs J Wilson

REGISTERED OFFICE:

3 Battock Terrace

Torphins

Banchory

Aberdeenshire

AB31 4JD

REGISTERED NUMBER:

SC220294 (Scotland)

ACCOUNTANTS:

The Grant Considine Partnership

Chartered Accountants

46 High Street

Banchory

Aberdeenshire

AB31 5SR

CURRENT ASSETS

Debtors

5

68

68

Cash at bank

41,442

29,524

41,510

29,592

CREDITORS

Amounts falling due within one year

6

10,460

989

NET CURRENT ASSETS

31,050

28,603

TOTAL ASSETS LESS CURRENT LIABILITIES

31,050

28,603

RESERVES

Income and expenditure account

31,050

28,603

31,050

28,603

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 surplus or deficit 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 11 December 2025 and were signed on its behalf by:

J Smith - Director

1.	STATUTORY INFORMATION

The Glassel Community Company Limited is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small Entities of Financial Reporting Standard 102'. The Financial Reporting Standard applicable in the UK and Republic of Ireland and with the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

The turnover is attributable to the one principal activity of the company, fundraising for the community. Turnover represents the value of sales to customers net of discounts and promotional rebates. Sales of goods are recognised when the company has delivered the product to the customer, the customer has accepted, and the collectability of the related receivable is reasonably assured.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

68

68

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,369

-

Taxation and social security

1,125

551

Other creditors

4,966

438

10,460

989

7.	LIMITED BY GUARANTEE

The Company was incorporated under the Companies Act 1985, with no share capital and a guarantee by each director not exceeding £1.00.