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REGISTERED NUMBER: 10034629 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

GLENGARTH PROPERTY MANAGEMENT LTD

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLENGARTH PROPERTY MANAGEMENT LTD

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTORS: Mrs E A Witter
Mr D Witter





REGISTERED OFFICE: 4 Station Road
Pershore
United Kingdom
WR10 1NG





REGISTERED NUMBER: 10034629 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

BALANCE SHEET
31st March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 308,000 283,980
308,000 283,980

CURRENT ASSETS
Debtors 6 727 3,815
Cash at bank 4,571 10,634
5,298 14,449
CREDITORS
Amounts falling due within one year 7 311,409 311,340
NET CURRENT LIABILITIES (306,111 ) (296,891 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,889 (12,911 )

PROVISIONS FOR LIABILITIES 9 340 -
NET ASSETS/(LIABILITIES) 1,549 (12,911 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 12,596 -
Retained earnings 11 (11,147 ) (13,011 )
SHAREHOLDERS' FUNDS 1,549 (12,911 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

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

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

BALANCE SHEET - continued
31st March 2023


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 Board of Directors and authorised for issue on 28th September 2023 and were signed on its behalf by:





Mrs E A Witter - Director


GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Glengarth Property Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

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.

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 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.

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.

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2022
and 31st March 2023 1,099
DEPRECIATION
At 1st April 2022
and 31st March 2023 1,099
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 283,980
Additions 8,470
Revaluations 15,550
At 31st March 2023 308,000
NET BOOK VALUE
At 31st March 2023 308,000
At 31st March 2022 283,980

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2023 308,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 240 128
Deferred tax asset - 2,957
Prepayments 487 730
727 3,815

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts (see note 8) 204,000 204,000
Trade creditors 72 72
Directors' loan accounts 105,882 105,882
Accrued expenses 1,455 1,386
311,409 311,340

8. LOANS

An analysis of the maturity of loans is given below:

31/3/23 31/3/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 204,000 204,000

9. PROVISIONS FOR LIABILITIES
31/3/23
£   
Deferred tax
Tax losses carried forward (2,615 )
Other timing differences 2,955
340

Deferred
tax
£   
Balance at 1st April 2022 (2,957 )
Provided during year 3,297
Balance at 31st March 2023 340

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
50 Share capital 1 1 50 50
50 Share capital 2 1 50 50
100 100

GLENGARTH PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 10034629)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st April 2022 (13,011 ) - (13,011 )
Profit for the year 14,460 14,460
Transfer between reserves (12,596 ) 12,596 -
At 31st March 2023 (11,147 ) 12,596 1,449