Company Registration No. NI670358 (Northern Ireland)
Glencastle Investments Ltd
Unaudited accounts
for the year ended 31 March 2023
Glencastle Investments Ltd
Unaudited accounts
Contents
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
Glencastle Investments Ltd
Statement of financial position
as at 31 March 2023
Investment property
360,000
175,000
Cash at bank and in hand
3,663
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)
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
Glencastle Investments Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Fair value at 1 April 2022
175,000
Net gain from fair value adjustments
7,304
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
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
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).