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REGISTERED NUMBER: 02085424 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 August 2023

for

Glen Castings Holdings Limited

Glen Castings Holdings Limited (Registered number: 02085424)






Contents of the Financial Statements
for the year ended 29 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Glen Castings Holdings Limited

Company Information
for the year ended 29 August 2023







DIRECTOR: A J Butterworth





REGISTERED OFFICE: Meadows Mill
Burnley Road
Bacup
Lancashire
OL13 8BZ





REGISTERED NUMBER: 02085424 (England and Wales)





ACCOUNTANTS: FS Accountants Limited
2 York Street
Clitheroe
Lancashire
BB7 2DL

Glen Castings Holdings Limited (Registered number: 02085424)

Abridged Balance Sheet
29 August 2023

29/8/23 29/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 708 833
Investments 5 2 2
Investment property 6 540,000 540,000
540,710 540,835

CURRENT ASSETS
Debtors 9,529 17,741
Cash at bank 9 1,397
9,538 19,138
CREDITORS
Amounts falling due within one year 4,081 59,274
NET CURRENT ASSETS/(LIABILITIES) 5,457 (40,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,167

500,699

CREDITORS
Amounts falling due after more than one
year

310,464

264,273
NET ASSETS 235,703 236,426

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 7 408,859 408,859
Retained earnings (173,160 ) (172,437 )
235,703 236,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 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.

Glen Castings Holdings Limited (Registered number: 02085424)

Abridged Balance Sheet - continued
29 August 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





A J Butterworth - Director


Glen Castings Holdings Limited (Registered number: 02085424)

Notes to the Financial Statements
for the year ended 29 August 2023

1. STATUTORY INFORMATION

Glen Castings Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Investment property
Investment property comprises the freehold land and buildings at Meadow Mill. This is divided into units some of which are occupied by the Company's trading subsidiary with the remainder let out to third party tenants on an informal basis. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 1 March 2018 by Bridge & Co Chartered Surveyors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If the investment property were stated on an historical cost basis rather than a fair value basis its carrying amount in the accounts would be £82,500.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Glen Castings Holdings Limited (Registered number: 02085424)

Notes to the Financial Statements - continued
for the year ended 29 August 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 August 2022
and 29 August 2023 35,000
DEPRECIATION
At 30 August 2022 34,167
Charge for year 125
At 29 August 2023 34,292
NET BOOK VALUE
At 29 August 2023 708
At 29 August 2022 833

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 30 August 2022
and 29 August 2023 2
NET BOOK VALUE
At 29 August 2023 2
At 29 August 2022 2

Glen Castings Holdings Ltd owns 100% of the issued share capital of Glen Castings Limited.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 August 2022
and 29 August 2023 540,000
NET BOOK VALUE
At 29 August 2023 540,000
At 29 August 2022 540,000

7. RESERVES
Revaluation
reserve
£   
At 30 August 2022
and 29 August 2023 408,859