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REGISTERED NUMBER: 04176532 (England and Wales)















GLEVUM COMMERCIALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2022






GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


GLEVUM COMMERCIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTOR: Mr D M Lindsey



REGISTERED OFFICE: Chelworth Lodge
Chelworth
Cricklade
SWINDON
Wiltshire
SN6 6HB



REGISTERED NUMBER: 04176532 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: National Westminster Bank Plc
84 Commercial Road
SWINDON
Wiltshire
SN1 5NW

GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 723,978 699,889

CURRENT ASSETS
Debtors 5 589,335 537,533
Cash at bank 232,799 226,861
822,134 764,394
CREDITORS
Amounts falling due within one year 6 99,619 74,454
NET CURRENT ASSETS 722,515 689,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,446,493

1,389,829

CREDITORS
Amounts falling due after more than
one year

7

(197,333

)

(216,196

)

PROVISIONS FOR LIABILITIES (14,182 ) (2,716 )
NET ASSETS 1,234,978 1,170,917

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 1,234,977 1,170,916
SHAREHOLDERS' FUNDS 1,234,978 1,170,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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.

GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2022


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 9th September 2022 and were signed by:





Mr D M Lindsey - Director


GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022


1. STATUTORY INFORMATION

The company is a private company limited by shares and incorporated in England and Wales.

The registered office address is Chelworth Lodge, Chelworth, Cricklade, Swindon, Wiltshire, SN6 6HB.

These financial statements are presented in British Pounds (GBP) rounded to the nearest pound, which is the company's functional and presentational currency.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover represents net invoiced sale of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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

Taxation
Taxation for the year 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 statement of financial position date.


GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 8 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2021 642,929 106,629 749,558
Additions - 35,756 35,756
At 31st March 2022 642,929 142,385 785,314
DEPRECIATION
At 1st April 2021 - 49,669 49,669
Charge for year - 11,667 11,667
At 31st March 2022 - 61,336 61,336
NET BOOK VALUE
At 31st March 2022 642,929 81,049 723,978
At 31st March 2021 642,929 56,960 699,889

5. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 117,863 66,402
Amounts recoverable on contract 25,490 41,214
Other debtors 424,350 408,916
567,703 516,532

GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022


5. DEBTORS - continued
2022 2021
£    £   
Amounts falling due after more than one year:
Other debtors 21,632 21,001

Aggregate amounts 589,335 537,533

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 25,661 25,140
Trade creditors 29,945 13,648
Taxation and social security 38,883 27,192
Other creditors 5,130 8,474
99,619 74,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 197,333 216,196

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 222,994 241,336

The bank loan is a legal mortgage secured on Painscott, Callow Hill, Brinkworth, Chippenham, Wiltshire and by way of fixed charge over the Company's assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 1

GLEVUM COMMERCIALS LIMITED (REGISTERED NUMBER: 04176532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022


10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2022 and 31st March 2021:

2022 2021
£    £   
Mr D M Lindsey
Balance outstanding at start of year 76,560 64,617
Amounts advanced 16,664 15,643
Amounts repaid (13,700 ) (3,700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 79,524 76,560