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REGISTERED NUMBER: 07286966 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2021

for

Glebe Construction (Midlands) Limited

Glebe Construction (Midlands) Limited (Registered number: 07286966)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glebe Construction (Midlands) Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: G J Supple
T S Supple
J T White





REGISTERED OFFICE: 20 Victoria Way
Pride Park
Derby
DE24 8AN





REGISTERED NUMBER: 07286966 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Glebe Construction (Midlands) Limited (Registered number: 07286966)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,225 14,494

CURRENT ASSETS
Work in progress 1,410,333 1,087,452
Debtors 5 67,534 125,794
Cash at bank and in hand 23,129 97,102
1,500,996 1,310,348
CREDITORS
Amounts falling due within one year 6 896,443 1,270,723
NET CURRENT ASSETS 604,553 39,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

627,778

54,119

CREDITORS
Amounts falling due after more than one
year

7

623,589

50,000
NET ASSETS 4,189 4,119

CAPITAL AND RESERVES
Called up share capital 111 111
Share premium 1,438 1,438
Retained earnings 2,640 2,570
SHAREHOLDERS' FUNDS 4,189 4,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Glebe Construction (Midlands) Limited (Registered number: 07286966)

Balance Sheet - continued
31 December 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2022 and were signed on its behalf by:




G J Supple - Director



J T White - Director


Glebe Construction (Midlands) Limited (Registered number: 07286966)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Glebe Construction (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents the value of completed property sales, excluding value added tax. Turnover is recognised on the completion date of the property sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Motor vehicles - 25% on reducing balance

Government grants
Grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

Work in progress
Work in progress represent the cost of land and all relevant development costs to date, valued at the lower of cost and net realisable value.

Cost is based on purchase invoice price and net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 47,561 10,000 57,561
Additions 13,650 - 13,650
At 31 December 2021 61,211 10,000 71,211
DEPRECIATION
At 1 January 2021 33,067 10,000 43,067
Charge for year 4,919 - 4,919
At 31 December 2021 37,986 10,000 47,986
NET BOOK VALUE
At 31 December 2021 23,225 - 23,225
At 31 December 2020 14,494 - 14,494

Glebe Construction (Midlands) Limited (Registered number: 07286966)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 153 5,844
Other debtors 6,911 8,058
Prepayments and accrued income 60,470 111,892
67,534 125,794

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,664 -
Other loans 70,000 70,000
Other loans - secured 233,868 500,000
Trade creditors 24,343 81,056
Tax 46,413 39,052
Social security and other taxes 1,847 3,893
Amounts owed to associated
undertakings

359,689

411,997
Directors' loan accounts 138,696 135,188
Accrued expenses 11,923 29,537
896,443 1,270,723

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loan 34,124 50,000
Other loans - secured 589,465 -
623,589 50,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Other loans - secured 823,333 500,000

Loans are secured on property held within work in progress.