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# GLENROTHES DEVELOPMENTS LTD

## Company Registration Number:
SC565019 (Scotland)

## Unaudited abridged accounts for the year ended 25 November 2024

## Period of accounts

## Start date: 01 December 2023

## End date: 25 November 2024

# GLENROTHES DEVELOPMENTS LTD

## Contents of the Financial Statements

for the Period Ended 25 November 2024

Balance sheet |
Notes |

# GLENROTHES DEVELOPMENTS LTD

## Balance sheet

As at 25 November 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Called up share capital not paid: |  | 0 | 0
Fixed assets
Intangible assets: |  | 0 | 0
Tangible assets: |  | 0 | 0
Investments: |  | 0 | 0
Total fixed assets: |  | 0 | 0
Current assets
Stocks: |  | 3,082,866 | 3,025,206
Debtors: |  | 73,834 | 185,309
Cash at bank and in hand: |  | 557,206 | 520,624
Investments: |  | 0 | 0
Total current assets: |  | 3,713,906 | 3,731,139
Creditors: amounts falling due within one year: | 3 | (12,817,628) | (12,182,954)
Net current assets (liabilities): |  | (9,103,722) | (8,451,815)
Total assets less current liabilities: |  | (9,103,722) | (8,451,815)
Creditors: amounts falling due after more than one year: |  | 0 | 0
Provision for liabilities: |  | 0 | 0
Total net assets (liabilities): |  | (9,103,722) | (8,451,815)
Capital and reserves
Called up share capital: |  | 10 | 10
Share premium account: |  | 0 | 0
Revaluation reserve: |  | 0 | 0
Other reserves: |  | 0 | 0
Profit and loss account: |  | (9,103,732) | (8,451,825)
Shareholders funds: |  | (9,103,722) | (8,451,815)

The notes form part of these financial statements

# GLENROTHES DEVELOPMENTS LTD

## Balance sheet statements

For the year ending 25 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 April 2026
and signed on behalf of the board by:

Name: James Shields
Status: Director

The notes form part of these financial statements

# GLENROTHES DEVELOPMENTS LTD

## Notes to the Financial Statements

for the Period Ended 25 November 2024

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

Revenue is recognised when the total revenue is due.

## Valuation and information policy

The company invests in land held for development. Judgement us required by management in determining whether costs jncurred are designated as overheads or costs of land held for development. Land sales and associated income are recognised on final sale of a site with due provision for any costs to complete.

## Other accounting policies

The company has identified significant losses will be incurred on its development site at Glenrothes. The full antipated loss has been provided for leading to net liabilities. The company is supported through loans from a director and the shareholders. Accordingly they continue to adoot the going concern basis.

# GLENROTHES DEVELOPMENTS LTD

## Notes to the Financial Statements

for the Period Ended 25 November 2024

## 2. Employees

| 2024 | 2023
--- | --- | ---
Average number of employees during the period | 0 | 0

# GLENROTHES DEVELOPMENTS LTD

## Notes to the Financial Statements

for the Period Ended 25 November 2024

## 3. Creditors: amounts falling due within one year note

Loans included in creditors of £2.75m are secured over land held as stock.

# GLENROTHES DEVELOPMENTS LTD

## Notes to the Financial Statements

for the Period Ended 25 November 2024

## 4. Related party transactions

Included within creditors is £7,945,128 for amounts due to companies or individuals connected to the Directors and Shareholders.