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Glenvale Design Limited
Registered Number:NI030468
For the year ended 28 February 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 28 February 2023
Glenvale Design Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
NI030468
As at 28 February 2023
Glenvale Design Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
85,114
83,629
2
85,114
83,629
Current assets
Inventories
61,604
79,929
3
Trade and other receivables
106,690
19,820
4
100
Cash and cash equivalents
100
99,849
168,394
Trade and other payables: amounts falling due within one
year
(82,285)
(100,611)
5
86,109
(762)
Net current liabilities
Total assets less current liabilities
84,352
169,738
Trade and other payables: amounts falling due after more
than one year
(62,303)
(22,728)
6
(11,261)
(8,238)
Provisions for liabilities
50,363
Net assets
99,197
Capital and reserves
Called up share capital
50,003
50,003
Retained earnings
360
49,194
50,363
99,197
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Aidan McCooey Director
These financial statements were approved and authorised for issue by the Board on 29 November 2023 and were signed by:
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4
Registered Number :
NI030468
For the year ended 28 February 2023
Glenvale Design Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 28 February 2023
Glenvale Design Limited
Notes to the Financial Statements
Statutory Information
Glenvale Design Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration
number NI030468.
Registered address:
8 Clay Road
Keady
Armagh
BT60 3QY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
4 Straight line
Plant and Machinery
10 Reducing balance
10 Reducing balance
Computer Equipment
25 Reducing balance
Motor Vehicles
10 Reducing balance
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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6
For the year ended 28 February 2023
Glenvale Design Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Furniture and
Fittings
Motor Vehicles
Plant and
Machinery
Land and
Buildings
£
£
£
£
£
Cost or
valuation
At 01 March 2022
395,908
103,863
81,877
182,739
27,429
16,341
1,041
15,300
-
-
Additions
At 28 February 2023
182,739
97,177
104,904
412,249
27,429
Provision for depreciation and impairment
At 01 March 2022
312,279
77,303
73,847
157,838
3,291
Charge for year
14,856
3,187
5,832
4,740
1,097
At 28 February 2023
327,135
80,490
79,679
162,578
4,388
At 28 February 2023
Net book value
23,041
20,161
17,498
24,414
85,114
At 28 February 2022
24,138
24,901
8,030
26,560
83,629
3. Inventories
2022
2023
£
£
Stocks
79,929
61,604
4. Trade and other receivables
2022
2023
£
£
Trade debtors
10,089
16,799
Other debtors
9,731
89,891
106,690
19,820
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
43,830
40,652
Trade creditors
15,217
18,741
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
12,022
-
Taxation and social security
-
2,602
Other creditors
29,542
20,290
100,611
82,285
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7
For the year ended 28 February 2023
Glenvale Design Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
22,728
32,303
Other creditors
-
30,000
22,728
62,303
7. Average number of persons employed
During the year the average number of employees was 8 (2022 : 6)
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