Company Registration No. SC442619 (Scotland)
Glenogil Limited
Unaudited financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Glenogil Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Glenogil Limited
Statement of financial position
As at 31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,356,024
10,358,188
10,356,024
10,358,188
Current assets
Stocks
258,861
259,902
Debtors
5
132,103
89,565
Cash at bank and in hand
31,608
47,056
422,572
396,523
Creditors: amounts falling due within one year
6
(30,273,409)
(28,384,156)
Net current liabilities
(29,850,837)
(27,987,633)
Total assets less current liabilities
(19,494,813)
(17,629,445)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(19,494,913)
(17,629,545)
Total equity
(19,494,813)
(17,629,445)
Glenogil Limited
Statement of financial position (continued)
As at 31 March 2025
2

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
Danny Lawson
Director
Company Registration No. SC442619
Glenogil Limited
Notes to the financial statements
For the year ended 31 March 2025
3
1
Accounting policies
Company information

Glenogil Limited is a private company limited by shares incorporated in Scotland. The registered office is The Estate Office, Glenogil, By Forfar, Angus, DD8 3SX.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of true£19,494,813 (2024: £17,629,445). The company is reliant on the support from the shareholder, the shareholder's loan was £29,994,224 (2024: £28,260,873) at the year end.

1.3
Revenue

Turnover represents amounts receivable from sale of holiday lets and shooting days, both of which are net of VAT.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intangible Assets
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Building improvements
2% straight line
Plant and machinery
10% and 16% straight line
Motor vehicles
12% to 15% straight line
Woodlands
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Glenogil Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Glenogil Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Glenogil Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
6
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
40
41
3
Intangible fixed assets
Intangible Assets
£
Cost
At 1 April 2024 and 31 March 2025
9,997
Amortisation and impairment
At 1 April 2024 and 31 March 2025
9,997
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Woodlands
Total
£
£
£
£
Cost
At 1 April 2024
10,148,766
1,956,210
36,106
12,141,082
Additions
77,657
122,980
-
0
200,637
Disposals
-
0
(22,515)
-
0
(22,515)
At 31 March 2025
10,226,423
2,056,675
36,106
12,319,204
Depreciation and impairment
At 1 April 2024
369,722
1,377,062
36,106
1,782,890
Depreciation charged in the year
53,475
145,621
-
0
199,096
Eliminated in respect of disposals
-
0
(18,806)
-
0
(18,806)
At 31 March 2025
423,197
1,503,877
36,106
1,963,180
Carrying amount
At 31 March 2025
9,803,226
552,798
-
0
10,356,024
At 31 March 2024
9,779,044
579,144
-
0
10,358,188
Glenogil Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
5
Debtors: amounts falling due within one year
2025
2024
£
£
Trade debtors
52,136
65,525
Other debtors
79,967
24,040
132,103
89,565
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
25,969
Trade creditors
248,403
70,413
Taxation and social security
12,521
12,082
Other creditors
30,012,485
28,275,692
30,273,409
28,384,156
7
Controlling party

The company was under the control of F von Baumbach throughout the period. F von Baumbach is the sole shareholder who has an interest free loan with the company.

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