Registered number
08089278
Gladglider Limited
Filleted Accounts
30 November 2023
Gladglider Limited
Registered number: 08089278
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 880,446 342,088
Investments 4 311,554 311,554
1,192,000 653,642
Current assets
Debtors 5 549,826 567,020
Cash at bank and in hand 3,755 1,925
553,581 568,945
Creditors: amounts falling due within one year 6 (1,213,226) (1,150,853)
Net current liabilities (659,645) (581,908)
Total assets less current liabilities 532,355 71,734
Provisions for liabilities (26,217) (26,217)
Net assets 506,138 45,517
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 78,652 78,652
Profit and loss account 427,484 (33,137)
Shareholders' funds 506,138 45,517
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.
S C Ragg
Director
Approved by the board on 27 August 2024
Gladglider Limited
Notes to the Accounts
for the year ended 30 November 2023
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and net of discounts. Turnover includes revenue earned from rentals and other associated services provided to tenants.
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:
Freehold buildings over 50 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 342,088
Additions 538,358
At 30 November 2023 880,446
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 880,446
At 30 November 2022 342,088
Freehold land and buildings: 2023 2022
£ £
Historical cost 775,577 237,219
Cumulative depreciation based on historical cost - -
775,577 237,219
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2022 311,554
At 30 November 2023 311,554
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 522,824 540,018
Other debtors 27,002 27,002
549,826 567,020
6 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 263,629 310,000
Other creditors 949,597 840,853
1,213,226 1,150,853
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 78,652 97,094
Loss on revaluation of land and buildings - (2,442)
Transfer from revaluation reserve - (16,000)
At 30 November 2023 78,652 78,652
8 Other information
Gladglider Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge
North Jesmond Avenue
Newcastle upon Tyne
Tyne & Wear
NE2 3JU
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