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REGISTERED NUMBER: 05033611 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

GLASHEDY PROPERTIES LIMITED

GLASHEDY PROPERTIES LIMITED (REGISTERED NUMBER: 05033611)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


GLASHEDY PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: G Doherty
Mrs R Doherty





SECRETARY: Mrs R Doherty





REGISTERED OFFICE: 206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS





REGISTERED NUMBER: 05033611 (England and Wales)





ACCOUNTANTS: F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

GLASHEDY PROPERTIES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
GLASHEDY PROPERTIES LIMITED


The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2023 set out on pages four to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F E Hawkes & Co
206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS


31 October 2023

GLASHEDY PROPERTIES LIMITED (REGISTERED NUMBER: 05033611)

BALANCE SHEET
28 February 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
491,517 Investment property 5 491,517

CURRENT ASSETS
247,449 Stocks 6 247,449
1,872 Debtors 7 2,400
268,739 Cash at bank 15,149
518,060 264,998
CREDITORS
921,437 Amounts falling due within one year 8 682,003
(403,377 ) NET CURRENT LIABILITIES (417,005 )
88,140 TOTAL ASSETS LESS CURRENT
LIABILITIES

74,512

CAPITAL AND RESERVES
100 Called up share capital 100
88,040 Retained earnings 74,412
88,140 SHAREHOLDERS' FUNDS 74,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 31 October 2023 and were signed on its behalf by:





G Doherty - Director


GLASHEDY PROPERTIES LIMITED (REGISTERED NUMBER: 05033611)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Glashedy Properties Ltd is a private company, limited by shares and registered in England and Wales.

The company's registered number and registered office address are as follows

Registered number: 05033611

Registered office: 206 Endeavour House
Wrest Park
Silsoe
Bedfordshire
MK45 4HS

The presentation currency of the financial statements is in the Pound Sterling (£)

The principal activity of the company in the year under review was that of the developing, selling and renting of real estate.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Coronavirus ( Covid 19 ) has had little impact on the company's business and therefore the company were unable to utilise any grants or benefits from the Government.

Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements other than in connection with the market value of Investment Property .

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The Investment Property has not been professionally valued but the Directors consider that the market value is not dissimilar to its initial cost and therefore the cost is deemed to be its fair value.As no surplus arises then no provision for deferred tax is appropriate.

Stocks
Stocks of Land and Buildings are valued at the lower of cost or net realisable value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


GLASHEDY PROPERTIES LIMITED (REGISTERED NUMBER: 05033611)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


3. ACCOUNTING POLICIES - continued
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 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 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.

Turnover
Turnover is measured at the fair value of the consideration received for land disposals and developments


Rents received are measured at fair value of the consideration received or receivable excluding discounts, rebates, value added tax and any other sales taxes

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 491,517
NET BOOK VALUE
At 28 February 2023 491,517
At 28 February 2022 491,517

6. STOCKS
2023 2022
£    £   
Stock of land 247,449 247,449

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,400 1,872

GLASHEDY PROPERTIES LIMITED (REGISTERED NUMBER: 05033611)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,494 689
Amounts owed to associates 658,256 643,771
Tax 9,704 5,433
Social security & other taxes 2,671 2,671
VAT 590 915
Directors' current accounts 2,775 264,490
Accrued expenses 3,513 3,468
682,003 921,437

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £55,000 were paid to the directors .