Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-013falsePrecision and metalwork engineering.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05189124 2022-04-01 2023-03-31 05189124 2021-04-01 2022-03-31 05189124 2023-03-31 05189124 2022-03-31 05189124 2021-04-01 05189124 c:Director3 2022-04-01 2023-03-31 05189124 d:CurrentFinancialInstruments 2023-03-31 05189124 d:CurrentFinancialInstruments 2022-03-31 05189124 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05189124 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05189124 d:ShareCapital 2023-03-31 05189124 d:ShareCapital 2022-03-31 05189124 d:ShareCapital 2021-04-01 05189124 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 05189124 d:RetainedEarningsAccumulatedLosses 2023-03-31 05189124 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 05189124 d:RetainedEarningsAccumulatedLosses 2022-03-31 05189124 d:RetainedEarningsAccumulatedLosses 2021-04-01 05189124 c:OrdinaryShareClass2 2022-04-01 2023-03-31 05189124 c:OrdinaryShareClass2 2023-03-31 05189124 c:OrdinaryShareClass3 2022-04-01 2023-03-31 05189124 c:OrdinaryShareClass3 2023-03-31 05189124 c:OrdinaryShareClass4 2022-04-01 2023-03-31 05189124 c:OrdinaryShareClass4 2023-03-31 05189124 c:OrdinaryShareClass4 2022-03-31 05189124 c:FRS102 2022-04-01 2023-03-31 05189124 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05189124 c:FullAccounts 2022-04-01 2023-03-31 05189124 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05189124 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05189124










GLENTWORTH HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
GLENTWORTH HOLDINGS LIMITED
REGISTERED NUMBER:05189124

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
196,767
196,767

Current assets
  

Debtors: amounts falling due within one year
 5 
238,579
238,579

Creditors: amounts falling due within one year
 6 
(37,572)
(46,572)

Net current assets
  
 
 
201,007
 
 
192,007

  

Net assets
  
397,774
388,774


Capital and reserves
  

Called up share capital 
 7 
69,668
69,668

Profit and loss account
  
328,106
319,106

  
397,774
388,774


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 income statement 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: 


L P D'Arcy
Director

Date: 20 November 2023

Page 1

 
GLENTWORTH HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2021
69,668
339,078
408,746


Contributions by and distributions to owners

Dividends: Equity capital
-
(19,972)
(19,972)



At 1 April 2022
69,668
319,106
388,774



Profit for the year
-
9,000
9,000


At 31 March 2023
69,668
328,106
397,774


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Glentworth Holdings Limited is a private company limited by shares registered and incorporated in England within the United Kingdom. The address of the principal place of business is Molly Millar's Bridge, Molly Millar's Lane, Wokingham, Berkshire, RG41 2WY.

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 financial statements are presented in sterling which is the function currency of the company and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the financial statements on a going concern basis as the shareholders
have committed to providing financial support as required. The going concern basis is considered by
the directors to be appropriate due to the willingness and ability of the company's investors to continue to support the company for at least 12 months from the date of approval of the financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Page 3

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3

Page 4

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
239,767



At 31 March 2023

239,767



Impairment


At 1 April 2022
43,000



At 31 March 2023

43,000



Net book value



At 31 March 2023
196,767



At 31 March 2022
196,767

The company's investment in subsidiary companies represents the cost of acquisitions of the whole of the ordinary share capital of Glentworth Properties (Wokingham), which owns and manages property, and Glentworth Precision Engineering (UK) Limited, which is an engineering company.

Page 5

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
238,579
238,579



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
26,600
26,600

Other creditors
10,972
19,972

37,572
46,572



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



232,228 (2021 - 232,228) Ordinary 'A' shares of £0.10 each
23,222.80
23,222.80
232,227 (2021 - 232,227) Ordinary 'B' shares of £0.10 each
23,222.70
23,222.70
232,227 (2021 - 232,227) Ordinary 'C' shares of £0.10 each
23,222.70
23,222.70

69,668.20

69,668.20



8.Guarantees and financial commitments

At the year end the assets of the company are secured against a bank loan in the subsidiary company Glentworth Properties (Wokingham) Limited.  At the year end the amount outstanding was £228,004.


9.


Related party transactions

The company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Page 6