1 April 2022 false No description of principal activity Taxfiler 2023.10 NI670358business:PrivateLimitedCompanyLtd2022-04-012023-03-31 NI6703582022-03-31 NI6703582022-04-012023-03-31 NI670358business:AuditExemptWithAccountantsReport2022-04-012023-03-31 NI670358business:FilletedAccounts2022-04-012023-03-31 NI6703582023-03-31 NI670358business:Director12022-04-012023-03-31 NI670358business:Director22022-04-012023-03-31 NI670358business:RegisteredOffice2022-04-012023-03-31 NI6703582022-03-31 NI670358core:WithinOneYear2023-03-31 NI670358core:WithinOneYear2022-03-31 NI670358core:AfterOneYear2023-03-31 NI670358core:AfterOneYear2022-03-31 NI670358core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 NI670358core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 NI670358core:RevaluationReservecore:PreviouslyStatedAmount2023-03-31 NI670358core:RevaluationReservecore:PreviouslyStatedAmount2022-03-31 NI670358core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 NI670358core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 NI670358core:PreviouslyStatedAmount2023-03-31 NI670358core:PreviouslyStatedAmount2022-03-31 NI670358business:SmallEntities2022-04-012023-03-31 NI670358countries:NorthernIreland2022-04-012023-03-31 NI6703582021-07-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. NI670358 (Northern Ireland)
Glencastle Investments Ltd Unaudited accounts for the year ended 31 March 2023
Glencastle Investments Ltd Unaudited accounts Contents
Page
- 2 -
Glencastle Investments Ltd Company Information for the year ended 31 March 2023
Directors
Dr Scott King Robert McConnell
Company Number
NI670358 (Northern Ireland)
Registered Office
42 Bachelors Walk Lisburn BT28 1XN Northern Ireland
Accountants
Gray + Press Accountants Limited Unit 4A Channel Wharf 21 Old Channel Road Belfast BT3 9DE
- 3 -
Glencastle Investments Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
360,000 
175,000 
Current assets
Debtors
970 
- 
Cash at bank and in hand
3,663 
6,759 
4,633 
6,759 
Creditors: amounts falling due within one year
(101,814)
(45,544)
Net current liabilities
(97,181)
(38,785)
Total assets less current liabilities
262,819 
136,215 
Creditors: amounts falling due after more than one year
(166,453)
(59,092)
Net assets
96,366 
77,123 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
70,980 
70,980 
Profit and loss account
25,286 
6,043 
Shareholders' funds
96,366 
77,123 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Robert McConnell Director Company Registration No. NI670358
- 4 -
Glencastle Investments Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Glencastle Investments Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI670358. The registered office is 42 Bachelors Walk, Lisburn, BT28 1XN, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the revaluation reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
175,000 
Additions
177,696 
Net gain from fair value adjustments
7,304 
At 31 March 2023
360,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
970 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
12,445 
7,304 
Taxes and social security
3,133 
1,210 
Other creditors
85,000 
36,000 
Accruals
1,236 
1,030 
101,814 
45,544 
- 5 -
Glencastle Investments Ltd Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
166,453 
59,092 
8
Transactions with related parties
Included in other creditors are amounts owed to entities whom Glencastle Investments is controlled by. These amounts total £85,000 (2022 - £36,000).
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -