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REGISTERED NUMBER: OC426270 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

GLENLYN GROUP LLP

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Abridged Balance Sheet 4

Notes to the Financial Statements 6


GLENLYN GROUP LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr P Winter
Mrs O Winter
Mr E Winter
Mr D Winter





REGISTERED OFFICE: 159 High Street
Barnet
Hertfordshire
EN5 5SU





REGISTERED NUMBER: OC426270 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

Report of the Members
for the Year Ended 31 March 2023

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr P Winter
Mrs O Winter
Mr E Winter
Mr D Winter

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £159,818 (2022 - £145,894 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mr P Winter - Designated member


27 November 2023

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

Income Statement
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 475,454 335,445

Cost of sales (73,882 ) (36,501 )
GROSS PROFIT 401,572 298,944

Administrative expenses (480,839 ) (417,340 )
(79,267 ) (118,396 )

Other operating income - 45,106
OPERATING LOSS 4 (79,267 ) (73,290 )

Interest receivable and similar income 683 26
(78,584 ) (73,264 )

Interest payable and similar expenses (81,234 ) (72,630 )
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


(159,818


)


(145,894


)

LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES


(159,818


)


(145,894


)

Members' remuneration charged as an
expense

5

(35,724

)

(26,520

)
LOSS FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


(195,542


)


(172,414


)

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 6 7,792 9,090
Tangible assets 7 3,319,298 3,382,468
3,327,090 3,391,558

CURRENT ASSETS
Debtors 1,483,436 1,328,902
Cash at bank 224,005 290,173
1,707,441 1,619,075
CREDITORS
Amounts falling due within one year (118,197 ) (84,299 )
NET CURRENT ASSETS 1,589,244 1,534,776
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,916,334

4,926,334

CREDITORS
Amounts falling due after more than one
year

8

(1,696,552

)

(1,706,552

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,219,782

3,219,782

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,219,782 3,219,782
3,219,782 3,219,782

TOTAL MEMBERS' INTERESTS
Members' other interests 3,219,782 3,219,782
Amounts due from members (1,480,936 ) (1,321,360 )
1,738,846 1,898,422

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

Abridged Balance Sheet - continued
31 March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The financial statements were approved by the members of the LLP and authorised for issue on 27 November 2023 and were signed by:





Mr P Winter - Designated member

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

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

1. STATUTORY INFORMATION

Glenlyn Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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.

Goodwill
Goodwill has been recognised on the acquisition of the trade and is being amortised over 10 years, an estimation of its useful economic life, on a straight line basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees, including members with contracts of employment, during the year was 8 (2022 - 8 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 112,728 132,275
Goodwill amortisation 1,298 1,299

5. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Members' remuneration charged as an expense
Remuneration paid under an employment
contract

35,724

26,520

GLENLYN GROUP LLP (REGISTERED NUMBER: OC426270)

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

6. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 13,000
AMORTISATION
At 1 April 2022 3,910
Amortisation for year 1,298
At 31 March 2023 5,208
NET BOOK VALUE

At 31 March 2023 7,792
At 31 March 2022 9,090

7. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 3,645,166
Additions 49,558
At 31 March 2023 3,694,724
DEPRECIATION
At 1 April 2022 262,698
Charge for year 112,728
At 31 March 2023 375,426
NET BOOK VALUE
At 31 March 2023 3,319,298
At 31 March 2022 3,382,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 1,669,885 1,669,885