Registered number
07332346
Glenlinnhe Limited
Report and Accounts
29 February 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Glenlinnhe Limited
Registered number: 07332346
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,132 14,429
Current assets
Stocks 2,708 -
Debtors 4 5,536 5,006
Cash at bank and in hand 10,787 18,244
19,031 23,250
Creditors: amounts falling due within one year 5 (27,428) (33,996)
Net current liabilities (8,397) (10,746)
Total assets less current liabilities 2,735 3,683
Provisions for liabilities (1,915) (2,498)
Net assets 820 1,185
Capital and reserves
Called up share capital 3 3
Profit and loss account 817 1,182
Shareholders' funds 820 1,185
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Eccleston
Director
Approved by the board on 25 March 2024
Glenlinnhe Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% straight line
Equipment 20% reducing balance
Motor vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 14,063 19,472 33,535
At 29 February 2024 14,063 19,472 33,535
Depreciation
At 1 March 2023 7,849 11,257 19,106
Charge for the year 1,243 2,054 3,297
At 29 February 2024 9,092 13,311 22,403
Net book value
At 29 February 2024 4,971 6,161 11,132
At 28 February 2023 6,214 8,215 14,429
4 Debtors 2024 2023
£ £
Trade debtors 3,954 3,816
Other debtors 1,582 1,190
5,536 5,006
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,369 7,063
Corporation tax 8,472 12,108
Other taxes and social security costs 4,220 2,808
Other creditors 10,367 12,017
27,428 33,996
6 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
7 Controlling party
The company is controlled by its directors and shareholders.
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