Company Registration No. 08525647 (England and Wales)
GLENDALE (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
31 December 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
GLENDALE (UK) LIMITED
COMPANY INFORMATION
Directors
Mrs S R Pringle
Mr D R Pringle
Mr A J Pringle
Mrs H R Pringle
Secretary
Mr D R Pringle
Company number
08525647
Registered office
466 Ranglet Road
Walton Summit Industrial Estate
Bamber Bridge
Preston
Lancashire
PR5 8AR
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
GLENDALE (UK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GLENDALE (UK) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
40,333
Tangible assets
4
186,206
174,201
Investments
5
3
3
186,209
214,537
Current assets
Stocks
43,228
46,173
Debtors
6
360,685
455,328
Cash at bank and in hand
712,403
737,978
1,116,316
1,239,479
Creditors: amounts falling due within one year
7
(475,569)
(657,163)
Net current assets
640,747
582,316
Total assets less current liabilities
826,956
796,853
Provisions for liabilities
(8,066)
(16,124)
Net assets
818,890
780,729
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
818,790
780,629
Total equity
818,890
780,729

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GLENDALE (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 August 2024 and are signed on its behalf by:
Mr D R Pringle
Mr A J Pringle
Director
Director
Company registration number 08525647 (England and Wales)
GLENDALE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Glendale (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 466 Ranglet Road, Walton Summit Industrial Estate, Bamber Bridge, Preston, Lancashire, PR5 8AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of ten years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
Website
25% on reducing balance
1.5
Fixed asset investments

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.7
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 tax

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.

 

GLENDALE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
13
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
470,000
Amortisation and impairment
At 1 January 2023
429,667
Amortisation charged for the year
40,333
At 31 December 2023
470,000
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
40,333
GLENDALE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Website
Total
£
£
£
£
£
Cost
At 1 January 2023
1,900
48,927
257,463
11,600
319,890
Additions
-
0
2,733
86,200
-
0
88,933
Disposals
-
0
-
0
(51,358)
-
0
(51,358)
At 31 December 2023
1,900
51,660
292,305
11,600
357,465
Depreciation and impairment
At 1 January 2023
811
29,806
109,860
5,212
145,689
Depreciation charged in the year
109
3,203
50,536
1,597
55,445
Eliminated in respect of disposals
-
0
-
0
(29,875)
-
0
(29,875)
At 31 December 2023
920
33,009
130,521
6,809
171,259
Carrying amount
At 31 December 2023
980
18,651
161,784
4,791
186,206
At 31 December 2022
1,089
19,121
147,603
6,388
174,201
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
3
3
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
269,917
356,422
Other debtors
90,768
98,906
360,685
455,328
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
63,925
105,520
Taxation and social security
199,596
116,080
Other creditors
212,048
435,563
475,569
657,163
GLENDALE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Related party transactions

Included in other creditors are balances of £192,670 (2022- £397,571) due to the directors of the company. These loans are interest free and have no fixed repayment date.

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