REGISTERED NUMBER: SC121506 (Scotland)

Unaudited Financial Statements

for the Period 31 December 2023 to 22 December 2024

for

Glen Coaches Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Samuel McPherson

SECRETARY:

Samuel McPherson

REGISTERED OFFICE:

25 Sandyford Place

Glasgow

G3 7NG

REGISTERED NUMBER:

SC121506 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

4

196,006

16,128

CURRENT ASSETS

Debtors

5

106,637

251,031

Cash at bank

12,277

1,873

118,914

252,904

CREDITORS

Amounts falling due within one year

6

112,262

73,556

NET CURRENT ASSETS

6,652

179,348

TOTAL ASSETS LESS CURRENT LIABILITIES

202,658

195,476

CREDITORS

Amounts falling due after more than one year

7

(87,844

)

(14,179

)

PROVISIONS FOR LIABILITIES

8

-

(1,575

)

NET ASSETS

114,814

179,722

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

64,814

129,722

SHAREHOLDERS' FUNDS

114,814

179,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 22 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 22 December 2024 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 August 2026 and were signed by:

Samuel McPherson - Director

1.	STATUTORY INFORMATION

Glen Coaches 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on reducing balance

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 31 December 2023

31,500

Additions

458,750

Disposals

(230,000

)

At 22 December 2024

260,250

DEPRECIATION

At 31 December 2023

15,372

Charge for period

48,872

At 22 December 2024

64,244

NET BOOK VALUE

At 22 December 2024

196,006

At 30 December 2023

16,128

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 31 December 2023

29,000

Additions

84,000

Disposals

(84,000

)

At 22 December 2024

29,000

DEPRECIATION

At 31 December 2023

14,152

Charge for period

2,970

At 22 December 2024

17,122

NET BOOK VALUE

At 22 December 2024

11,878

At 30 December 2023

14,848

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

32,170

23,657

Amounts owed by participating interests

74,467

227,374

106,637

251,031

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

32,417

5,156

Taxation and social security

25,127

30,027

Other creditors

44,718

28,373

112,262

73,556

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,886

14,179

Hire purchase contracts

82,958

-

87,844

14,179

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

-

1,575

Deferred

tax

£

Balance at 31 December 2023

1,575

Provided during period

(1,575

)

Balance at 22 December 2024

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50,000

Ordinary

£1

50,000

50,000

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Pride Coaches Ltd.