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REGISTERED NUMBER: 11883968 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

GLC Commercials Limited

GLC Commercials Limited (Registered number: 11883968)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


GLC Commercials Limited (Registered number: 11883968)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 99,711 93,170

CURRENT ASSETS
Debtors 5 - 48,546
Cash at bank and in hand 47,161 11,041
47,161 59,587
CREDITORS
Amounts falling due within one year 6 34,400 18,956
NET CURRENT ASSETS 12,761 40,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,472

133,801

CREDITORS
Amounts falling due after more than
one year

7

-

(40,185

)

PROVISIONS FOR LIABILITIES (18,945 ) (17,157 )
NET ASSETS 93,527 76,459

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 93,526 76,458
93,527 76,459

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GLC Commercials Limited (Registered number: 11883968)

Statement of Financial Position - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:





Mr G Bebbington - Director


GLC Commercials Limited (Registered number: 11883968)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

GLC Commercials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11883968

Registered office: Arrow Mill
Queensway
Rochdale
Lancashire
OL11 2YW

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.

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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GLC Commercials Limited (Registered number: 11883968)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 135,699
Additions 38,417
At 31 March 2023 174,116
DEPRECIATION
At 1 April 2022 42,529
Charge for year 31,876
At 31 March 2023 74,405
NET BOOK VALUE
At 31 March 2023 99,711
At 31 March 2022 93,170

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Other debtors - 24,285

Amounts falling due after more than one year:
Amounts owed by associates - 24,261

Aggregate amounts - 48,546

GLC Commercials Limited (Registered number: 11883968)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 611 4,561
Trade creditors 6,062 334
Taxation and social security 21,884 11,581
Other creditors 5,843 2,480
34,400 18,956

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 40,185

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 40,185