REGISTERED NUMBER: SC384296 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

GLENQUEST LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K M Walker

Miss J F Walker

Miss S C Walker

Domicile Executors Trustees & Nominees Ltd

SECRETARY:

Domicile Executors Trustees & Nominees Ltd

REGISTERED OFFICE:

109 Douglas Street,

GLASGOW

G2 4HB

REGISTERED NUMBER:

SC384296 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

4th Floor, Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Investments

4

3,612,575

3,370,522

CURRENT ASSETS

Debtors

5

5,927

6,595

Cash at bank

47,859

25,012

53,786

31,607

CREDITORS

Amounts falling due within one year

6

(1,569,307

)

(1,569,208

)

NET CURRENT LIABILITIES

(1,515,521

)

(1,537,601

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,097,054

1,832,921

PROVISIONS FOR LIABILITIES

(355,352

)

(294,217

)

NET ASSETS

1,741,702

1,538,704

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

7

1,132,141

948,735

Retained earnings

609,461

589,869

SHAREHOLDERS' FUNDS

1,741,702

1,538,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 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 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 15 May 2026 and were signed on its behalf by:

Domicile Executors Trustees & Nominees Ltd - Director

1.	STATUTORY INFORMATION

Glenquest Limited is a private company, limited by shares, registered in Scotland, registration number SC384296. The registered office is 109 Douglas Street, Glasgow, G2 4HB .

The principal activity of the company is an investment company.

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 as modified by the revaluation of certain assets.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Listed Investments

Listed investments are measured at fair value with changes in fair value recognised in profit or loss.

The fair value is the price that would be received if an asset is sold in an orderly transaction between market participants at the measurement date. The fair value of assets traded in an active market is based on quoted market prices at the close of trading on the reporting date. For quoted financial assets the valuation is based on the closing bid price.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 September 2024

3,370,522

Additions

182,106

Disposals

(187,004

)

Revaluations

246,951

At 31 August 2025

3,612,575

NET BOOK VALUE

At 31 August 2025

3,612,575

At 31 August 2024

3,370,522

Cost or valuation at 31 August 2025 is represented by:

Other

investments

£

Valuation in 2016

440,462

Valuation in 2017

149,303

Valuation in 2018

28,690

Valuation in 2019

110,305

Valuation in 2020

41,288

Valuation in 2021

386,730

Valuation in 2022

(367,039

)

Valuation in 2023

(10,426

)

Valuation in 2024

463,638

Valuation in 2025

244,542

Cost

2,125,082

3,612,575

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

5,927

6,595

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

1,569,307

1,569,208

7.

RESERVES

Fair

value

reserve

£

At 1 September 2024

948,735

Fair value transfer

183,406

At 31 August 2025

1,132,141