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Registration number: 09425920

Glebe Street Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Glebe Street Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Glebe Street Limited

Company Information

Directors

B P K Dhoot

R Chander

Registered office

Connaught House
48 High Street
Slough
Berkshire
SL1 1EL

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
17 Campion Close
Denham
Buckinghamshire
UB9 5BX

 

Glebe Street Limited

(Registration number: 09425920)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

101,413

1,195,000

Cash at bank and in hand

 

86,771

90,312

 

188,184

1,285,312

Creditors: Amounts falling due within one year

5

(2,160)

(543,236)

Net assets

 

186,024

742,076

Capital and reserves

 

Called up share capital

10

10

Retained earnings

186,014

742,066

Shareholders' funds

 

186,024

742,076

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 


B P K Dhoot
Director

 

Glebe Street Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Connaught House
48 High Street
Slough
Berkshire
SL1 1EL

These financial statements were authorised for issue by the Board on 2 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Glebe Street Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,195,000

Other debtors

101,413

-

 

101,413

1,195,000

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6

-

159,754

Taxation and social security

 

-

174,000

Accruals and deferred income

 

2,160

1,200

Amounts due to other related parties

 

-

208,282

 

2,160

543,236

6

Related party transactions

Loans to related parties

 

Glebe Street Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2023

Parent
£

Total
£

At start of period

159,754

159,754

Advanced

204,000

204,000

Repaid

(368,663)

(368,663)

Interest transactions

4,909

4,909

At end of period

-

-

2022

Parent
£

Total
£

At start of period

265,171

265,171

Advanced

490

490

Repaid

(115,000)

(115,000)

Interest transactions

9,093

9,093

At end of period

159,754

159,754

Terms of loans to related parties

This loan is interest free and repayable on demand.
 

7

Parent and ultimate parent undertaking

The company's immediate parent is Raico Properties Limited, incorporated in England and Wales.

  These financial statements are available upon request from Connaught House, 48 High Street, Slough, SL1 1EL