BrightAccountsProduction v1.0.0 v1.0.0 2022-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of specialised construction activities. 2 August 2024 NI622349 2023-01-31 NI622349 2022-01-31 NI622349 2021-01-31 NI622349 2022-02-01 2023-01-31 NI622349 2021-02-01 2022-01-31 NI622349 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI622349 uk-curr:PoundSterling 2022-02-01 2023-01-31 NI622349 uk-bus:AbridgedAccounts 2022-02-01 2023-01-31 NI622349 uk-core:ShareCapital 2023-01-31 NI622349 uk-core:ShareCapital 2022-01-31 NI622349 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI622349 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI622349 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI622349 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI622349 uk-bus:FRS102 2022-02-01 2023-01-31 NI622349 uk-core:LandBuildings 2022-02-01 2023-01-31 NI622349 uk-core:PlantMachinery 2022-02-01 2023-01-31 NI622349 uk-core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 NI622349 2022-02-01 2023-01-31 NI622349 uk-bus:Director1 2022-02-01 2023-01-31 NI622349 uk-bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Glenform Contracting Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2023



Glenform Contracting Limited
Company Registration Number: NI622349
ABRIDGED BALANCE SHEET
as at 31 January 2023

2023 2022
Notes £ £
 
Fixed Assets
 
Tangible assets 4 812,461 741,989
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Current Assets
 
Stocks 25,371 50,858
 
Debtors 402,838 370,797
 
Cash at bank and in hand 5,191 2,797
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433,400 424,452
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Creditors: amounts falling due within one year (1,117,507) (980,882)
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Net Current Liabilities (684,107) (556,430)
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Total Assets less Current Liabilities 128,354 185,559
 
Creditors:
 
amounts falling due after more than one year (25,690) (36,101)
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Net Assets 102,664 149,458
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Capital and Reserves
 
Called up share capital 1 1
 
Retained earnings 102,663 149,457
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Shareholders' Funds 102,664 149,458
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 2 August 2024 and signed on its behalf by
           
           
           
________________________________          
Declan Bradley          
Director          
           



Glenform Contracting Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
Glenform Contracting Limited is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI622349. The registered office of the company is 21 Main Street, Plumbridge, Co Tyrone, BT79 8AA, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report.

The financial statements have been presented in Pound (£) which is also the functional currency of
the company.

The financial statements cover the individual entity Glenform Contracting Limited for the financial year ended 31st January 2023.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Buildings - 2% Straight line
  Plant and machinery - 25% Straight line
  Computer equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2023 2022
  Number Number
 
Directors 2 2
Employees 9 9
  ───────── ─────────
  11 11
  ═════════ ═════════
           
4. Tangible assets
  Buildings Plant and Computer Total
    machinery equipment  
         
  £ £ £ £
Cost
At 1 February 2022 572,690 329,748 50,351 952,789
Additions 99,895 56,161 7,118 163,174
Disposals - (12,300) (1,104) (13,404)
  ───────── ───────── ───────── ─────────
At 31 January 2023 672,585 373,609 56,365 1,102,559
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2022 11,454 165,891 33,455 210,800
Charge for the financial year 13,452 69,823 9,199 92,474
On disposals - (12,300) (876) (13,176)
  ───────── ───────── ───────── ─────────
At 31 January 2023 24,906 223,414 41,778 290,098
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2023 647,679 150,195 14,587 812,461
  ═════════ ═════════ ═════════ ═════════
At 31 January 2022 561,236 163,857 16,896 741,989
  ═════════ ═════════ ═════════ ═════════
   
5. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.