GLENAVON ESTATE LIMITED

Company Registration Number:
03087158 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

GLENAVON ESTATE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

GLENAVON ESTATE LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the company is that of farming and forestry.



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

Clive Meikle


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 September 2024

And signed on behalf of the board by:
Name: Clive Meikle
Status: Director

GLENAVON ESTATE LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 14,063 1,872
Tangible assets: 4 650,566 633,887
Investments:   0 0
Total fixed assets: 664,629 635,759
Current assets
Stocks: 5 375,724 368,712
Debtors: 6 185,100 181,895
Cash at bank and in hand: 241,917 443,057
Investments:   0 0
Total current assets: 802,741 993,664
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 2,612,782 ) ( 2,691,532 )
Net current assets (liabilities): (1,810,041) (1,697,868)
Total assets less current liabilities: (1,145,412) ( 1,062,109)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (1,145,412) (1,062,109)
Capital and reserves
Called up share capital: 3,006,300 3,006,300
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: (4,151,712 ) (4,068,409 )
Total Shareholders' funds: ( 1,145,412 ) (1,062,109)

The notes form part of these financial statements

GLENAVON ESTATE LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 September 2024
and signed on behalf of the board by:

Name: Clive Meikle
Status: Director

The notes form part of these financial statements

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than property improvements and properties under construction over their estimated useful lives, as follows: Plant and Machinery 25% reducing balance Motor Vehicle 25% reducing balance

    Intangible fixed assets amortisation policy

    Amortisation is charged so as to write off the cost of investments, other than land and properties under construction over their estimated useful lives, as follows: Assets other than goodwill - straight line over 4years

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 2

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 0 140,282 140,282
Additions 0 18,750 18,750
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 December 2023 0 159,032 159,032
Amortisation
At 1 January 2023 0 138,410 138,410
Charge for year 0 6,559 6,559
On disposals 0 0 0
Other adjustments 0 0 0
At 31 December 2023 0 144,969 144,969
Net book value
At 31 December 2023 0 14,063 14,063
At 31 December 2022 0 1,872 1,872

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 571,434 0 234,350 0 103,451 909,235
Additions 19,378 0 17,769 0 0 37,147
Disposals 0 0 ( 5,500 ) 0 0 ( 5,500 )
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 December 2023 590,812 0 246,619 0 103,451 940,882
Depreciation
At 1 January 2023 0 0 202,790 0 72,558 275,348
Charge for year 0 0 12,194 0 7,723 19,917
On disposals 0 0 ( 4,949 ) 0 0 ( 4,949 )
Other adjustments 0 0 0 0 0 0
At 31 December 2023 0 0 210,035 0 80,281 290,316
Net book value
At 31 December 2023 590,812 0 36,584 0 23,170 650,566
At 31 December 2022 571,434 0 31,560 0 30,893 633,887

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Stocks

2023 2022
£ £
Stocks 375,724 368,712
Payments on account 0 0
Total 375,724 368,712

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 112,781 74,121
Prepayments and accrued income 5,461 4,233
Other debtors 66,858 103,541
Total 185,100 181,895
Debtors due after more than one year: 0 0

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 113,385 20,534
Taxation and social security 1,156 890
Accruals and deferred income 6,748 3,976
Other creditors 2,491,493 2,666,132
Total 2,612,782 2,691,532

GLENAVON ESTATE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Financial Commitments

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.