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Unaudited Financial Statements for the Year Ended 30 April 2016 |
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THE GLENCAIRN GLASS COMPANY LIMITED |
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Unaudited Financial Statements for the Year Ended 30 April 2016 |
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for |
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THE GLENCAIRN GLASS COMPANY LIMITED |
THE GLENCAIRN GLASS COMPANY LIMITED (REGISTERED NUMBER: SC285942) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
THE GLENCAIRN GLASS COMPANY LIMITED |
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Company Information |
for the Year Ended 30 April 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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29 Brandon Street |
Hamilton |
South Lanarkshire |
ML3 6DA |
THE GLENCAIRN GLASS COMPANY LIMITED (REGISTERED NUMBER: SC285942) |
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Balance Sheet |
30 April 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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THE GLENCAIRN GLASS COMPANY LIMITED (REGISTERED NUMBER: SC285942) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2016 |
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1. | STATUTORY INFORMATION |
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The Glencairn Glass Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents royalties and commissions received on sales of The Glencairn Whisky Glass. |
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Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
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The company's liability for current tax is calculated using tax rates that have been enacted or substantively |
enacted by the end of the reporting period. |
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Deferred tax is recognised on all timing differences between the carrying amounts of assets in the financial |
statements and the corresponding tax bases used in the computation of taxable profit. The carrying value of |
deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer |
probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
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Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which |
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or |
substantively enacted by the end of the reporting period. |
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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. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Other debtors |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Taxation and social security |
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Other creditors |
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THE GLENCAIRN GLASS COMPANY LIMITED (REGISTERED NUMBER: SC285942) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2016 |
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5. | RELATED PARTY DISCLOSURES |
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Glencairn Crystal Studio Limited |
A company in which R Davidson is a director and shareholder |
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During the year, the company advanced £170,474 (2015 - £186,119) to Glencairn Crystal Studio Limited and |
were repaid £51,049 (2015 - £19,553). |
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No interest was charged on the loan during this year or the previous year. |
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The amount due from Glencairn Crystal Studio Limited at the year end was £476,462 (2015 - £357,037). |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
The Glencairn Glass Company Limited |
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The following reproduces the text of the report prepared for the director and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of The Glencairn Glass Company Limited for the year ended 30 April 2016 which comprise the |
Income statement, Balance Sheet, and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the director of The Glencairn Glass Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Glencairn Glass Company Limited and state those matters that we have agreed to state to the director of The Glencairn Glass Company Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that The Glencairn Glass Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Glencairn Glass Company Limited. You consider that The Glencairn Glass Company Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of The Glencairn Glass Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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29 Brandon Street |
Hamilton |
South Lanarkshire |
ML3 6DA |
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