Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the Company during the year continued to be as a provider of commercial and residentialrental property.0false0true 01620258 2022-09-01 2023-08-31 01620258 2021-09-01 2022-08-31 01620258 2023-08-31 01620258 2022-08-31 01620258 2021-09-01 01620258 c:Director2 2022-09-01 2023-08-31 01620258 d:Buildings 2022-09-01 2023-08-31 01620258 d:Buildings 2023-08-31 01620258 d:Buildings 2022-08-31 01620258 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 01620258 d:Buildings d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 01620258 d:MotorVehicles 2022-09-01 2023-08-31 01620258 d:MotorVehicles 2023-08-31 01620258 d:MotorVehicles 2022-08-31 01620258 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 01620258 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 01620258 d:FurnitureFittings 2022-09-01 2023-08-31 01620258 d:FurnitureFittings 2023-08-31 01620258 d:FurnitureFittings 2022-08-31 01620258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 01620258 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 01620258 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 01620258 d:LeasedAssetsHeldAsLessee 2022-09-01 2023-08-31 01620258 d:FreeholdInvestmentProperty 2022-09-01 2023-08-31 01620258 d:FreeholdInvestmentProperty 2023-08-31 01620258 d:FreeholdInvestmentProperty 2022-08-31 01620258 d:CurrentFinancialInstruments 2023-08-31 01620258 d:CurrentFinancialInstruments 2022-08-31 01620258 d:Non-currentFinancialInstruments 2023-08-31 01620258 d:Non-currentFinancialInstruments 2022-08-31 01620258 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01620258 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 01620258 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01620258 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 01620258 d:ShareCapital 2023-08-31 01620258 d:ShareCapital 2022-08-31 01620258 d:RevaluationReserve 2023-08-31 01620258 d:RevaluationReserve 2022-08-31 01620258 d:InvestmentPropertiesRevaluationReserve 2023-08-31 01620258 d:InvestmentPropertiesRevaluationReserve 2022-08-31 01620258 d:RetainedEarningsAccumulatedLosses 2023-08-31 01620258 d:RetainedEarningsAccumulatedLosses 2022-08-31 01620258 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 01620258 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 01620258 c:OrdinaryShareClass1 2022-09-01 2023-08-31 01620258 c:OrdinaryShareClass1 2023-08-31 01620258 c:FRS102 2022-09-01 2023-08-31 01620258 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 01620258 c:FullAccounts 2022-09-01 2023-08-31 01620258 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 01620258 d:Subsidiary1 2022-09-01 2023-08-31 01620258 d:Subsidiary1 1 2022-09-01 2023-08-31 01620258 5 2022-09-01 2023-08-31 01620258 6 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01620258









INTERGLOW LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
INTERGLOW LIMITED
REGISTERED NUMBER: 01620258

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
977,041
1,008,000

Investments
 5 
100
100

Investment property
 6 
2,715,837
2,706,568

  
3,692,978
3,714,668

CURRENT ASSETS
  

Debtors due after more than 1 year
 7 
27,781
52,271

Debtors due within 1 year
 7 
5,207
6,132

Bank and cash balances
  
55,304
76,616

  
88,292
135,019

Creditors: amounts falling due within one year
 8 
(31,627)
(53,401)

NET CURRENT ASSETS
  
 
 
56,665
 
 
81,618

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,749,643
3,796,286

Creditors: amounts falling due after more than one year
 9 
(89,775)
(116,152)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(81,583)
(81,583)

  
 
 
(81,583)
 
 
(81,583)

NET ASSETS
  
3,578,285
3,598,551


CAPITAL AND RESERVES
  

Called up share capital 
 11 
25,750
25,750

Revaluation reserve
  
375,166
381,612

Investment property reserve
  
758,321
758,321

Profit and loss account
  
2,419,048
2,432,868

  
3,578,285
3,598,551


Page 1

 
INTERGLOW LIMITED
REGISTERED NUMBER: 01620258
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr M J Webb
Director

Date: 9 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

Interglow Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Shepreth Road, Fowlmere, Royston, Hertfordshire, SG8 7TQ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover from rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15 - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 5

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


TANGIBLE FIXED ASSETS





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 September 2022
980,000
47,533
26,351
1,053,884


Additions
-
-
1,050
1,050



At 31 August 2023

980,000
47,533
27,401
1,054,934



DEPRECIATION


At 1 September 2022
19,600
1,981
24,303
45,884


Charge for the year on owned assets
19,600
-
526
20,126


Charge for the year on financed assets
-
11,883
-
11,883



At 31 August 2023

39,200
13,864
24,829
77,893



NET BOOK VALUE



At 31 August 2023
940,800
33,669
2,572
977,041



At 31 August 2022
960,400
45,552
2,048
1,008,000



If the freehold property had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
657,712
657,712

Accumulated depreciation
(92,078)
(78,924)

NET BOOK VALUE
565,634
578,788

Page 6

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 September 2022
100



At 31 August 2023
100


SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Principal activity

Class of shares

Holding

Interglow (Contracts) Limited
Supply and installation of heat conversion products.
Ordinary
100%







6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 September 2022
2,706,568


Additions at cost
9,269



AT 31 AUGUST 2023
2,715,837

The valuations were made by the directors based on professional advice received, on an open market value for existing use basis.




Page 7

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


DEBTORS


2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Amounts owed by group undertakings
27,781
52,271

27,781
52,271

DUE WITHIN ONE YEAR

Trade debtors
625
-

Prepayments and accrued income
4,582
6,132

32,988
58,403



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
14,464
14,464

Trade creditors
3,091
6,126

Obligations under finance lease and hire purchase contracts
11,914
13,565

Other creditors
-
534

Accruals and deferred income
2,158
18,712

31,627
53,401


Included within bank loans is a loan which is secured on the company's investment properties. The loan is repayable across a five-year term on a quarterly basis. Interest is levied at 3% per annum above LIBOR.
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

Page 8

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
89,775
104,238

Obligations under finance leases and hire purchase contracts
-
11,914

89,775
116,152


Included within bank loans is a loan which is secured on the company's investment properties. The loan is repayable across a five-year term on a quarterly basis. Interest is levied at 3% per annum above LIBOR.
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.


10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
81,583
62,878


Charged to profit or loss
-
18,705



AT END OF YEAR
81,583
81,583

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Investment property unrealised gains
81,583
81,583


11.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



25,750 Ordinary shares of £1 each
25,750
25,750


 
Page 9