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REGISTERED NUMBER: SC048409 (Scotland)

Financial Statements for the Year Ended 30 November 2025

for

The Glascord Company Limited

The Glascord Company Limited (Registered number: SC048409)

Contents of the Financial Statements

for the Year Ended 30 November 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

The Glascord Company Limited

Company Information

for the Year Ended 30 November 2025

| DIRECTOR: | I W Kerr

| REGISTERED OFFICE: | c/o McLay, McAlister & McGibbon LLP

| 145 St Vincent Street

| Glasgow

| G2 5JF

| REGISTERED NUMBER: | SC048409 (Scotland)

| ACCOUNTANTS: | McLay McAlister & McGibbon LLP

| Chartered Accountants

| 145 St Vincent Street

| Glasgow

| G2 5JF

The Glascord Company Limited (Registered number: SC048409)

Balance Sheet

30 November 2025

| 30.11.25 |  | 30.11.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 38,437 |  | 135,438 |  |

Investments | 5 | - |  | 285,629 |  |

38,437 |  | 421,067 |  |

CURRENT ASSETS

Debtors | 6 | 1,815 |  | 92,774 |  |

Cash at bank | 1,759,190 |  | 1,154,212 |  |

1,761,005 |  | 1,246,986 |  |

CREDITORS

Amounts falling due within one year | 7 | (65,866 | ) | (171,711 | ) |

NET CURRENT ASSETS | 1,695,139 |  | 1,075,275 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,733,576 |  | 1,496,342 |  |

PROVISIONS FOR LIABILITIES | - |  | (32,706 | ) |

NET ASSETS | 1,733,576 |  | 1,463,636 |  |

CAPITAL AND RESERVES

Called up share capital | 102 |  | 102 |  |

Capital redemption reserve | 25 |  | 25 |  |

Fair value reserve | 8 | - |  | 94,222 |  |

Retained earnings | 1,733,449 |  | 1,369,287 |  |

SHAREHOLDERS' FUNDS | 1,733,576 |  | 1,463,636 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Glascord Company Limited (Registered number: SC048409)

Balance Sheet - continued

30 November 2025

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 director and authorised for issue on 10 March 2026 and were signed by:

I W Kerr - Director

The Glascord Company Limited (Registered number: SC048409)

Notes to the Financial Statements

for the Year Ended 30 November 2025

1. | STATUTORY INFORMATION

| The Glascord Company 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.

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

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 and services, 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.

| Land and buildings | - | at variable rates on reducing balance and over the term of the lease

| Plant and machinery etc | - | 25% on reducing balance and 10% on reducing balance

| The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

| Financial instruments

| Debtors

| Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

| Cash and cash equivalents

| Cash and cash equivalent in the balance sheet comprise cash at bank and in hand.

| Creditors

| Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

| 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.

The Glascord Company Limited (Registered number: SC048409)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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.

| Investments

| Fixed asset investments are stated at fair value with any movements being recognised in the profit and loss account.

| Operating leases

| Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - 2 ).

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 December 2024 | 211,578 |  | 42,412 |  | 253,990 |  |

| Disposals | (149,463 | ) | (42,412 | ) | (191,875 | ) |

| At 30 November 2025 | 62,115 |  | - |  | 62,115 |  |

| DEPRECIATION

| At 1 December 2024 | 81,344 |  | 37,208 |  | 118,552 |  |

| Charge for year | 2,166 |  | 236 |  | 2,402 |  |

| Eliminated on disposal | (59,832 | ) | (37,444 | ) | (97,276 | ) |

| At 30 November 2025 | 23,678 |  | - |  | 23,678 |  |

| NET BOOK VALUE

| At 30 November 2025 | 38,437 |  | - |  | 38,437 |  |

| At 30 November 2024 | 130,234 |  | 5,204 |  | 135,438 |  |

The Glascord Company Limited (Registered number: SC048409)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 December 2024 | 285,629 |  |

| Disposals | (285,629 | ) |

| At 30 November 2025 | - |  |

| NET BOOK VALUE

| At 30 November 2025 | - |  |

| At 30 November 2024 | 285,629 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.11.25 |  | 30.11.24

£ | £ |

| Trade debtors | - |  | 67,237 |  |

| Other debtors | 1,815 |  | 25,537 |  |

1,815 |  | 92,774 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.11.25 |  | 30.11.24

£ | £ |

| Trade creditors | 1,399 |  | 19,155 |  |

| Taxation and social security | 60,767 |  | 146,956 |  |

| Other creditors | 3,700 |  | 5,600 |  |

65,866 |  | 171,711 |  |

8. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 December 2024 | 94,222 |  |

| Fair value | (94,222 | ) |

| At 30 November 2025 | - |  |