Company registration number 02871378 (England and Wales)
GLENORIE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
GLENORIE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GLENORIE LIMITED (REGISTERED NUMBER: 02871378)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,563
3,417
Current assets
Debtors
4
5,148
8,826
Cash at bank and in hand
934
5,148
9,760
Creditors: amounts falling due within one year
5
(51,503)
(35,233)
Net current liabilities
(46,355)
(25,473)
Net liabilities
(43,792)
(22,056)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(43,892)
(22,156)
Total equity
(43,792)
(22,056)
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 30 April 2024 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.
The financial statements were approved by the board of directors and authorised for issue on 23 August 2024 and are signed on its behalf by:
Mr G Clegg
Director
GLENORIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Glenorie Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the 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. The following criteria must also be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measured reliably
- It is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably
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:
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
GLENORIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
3,218
2,890
20,373
26,481
Depreciation and impairment
At 1 May 2023
3,216
2,882
16,966
23,064
Depreciation charged in the year
2
852
854
At 30 April 2024
3,216
2,884
17,818
23,918
Carrying amount
At 30 April 2024
2
6
2,555
2,563
At 30 April 2023
2
8
3,407
3,417
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,148
8,826
GLENORIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,868
Trade creditors
852
810
Other creditors
48,783
34,423
51,503
35,233