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REGISTERED NUMBER: 01210805 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 April 2024

for

GLADESPRING LIMITED

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLADESPRING LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J E Cuff
D Nelson
R D Nelson
D C Cuff





SECRETARY: D Nelson





REGISTERED OFFICE: Boss Lane House
Boss Lane
Hughenden Valley
High Wycombe
HP14 4LQ





REGISTERED NUMBER: 01210805 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 168 1,062
Investment properties 5 3,490,000 3,490,000
3,490,168 3,491,062

CURRENT ASSETS
Debtors 6 19,519 16,211
Cash at bank 20,031 76,733
39,550 92,944
CREDITORS
Amounts falling due within one year 7 (21,706 ) (67,761 )
NET CURRENT ASSETS 17,844 25,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,508,012

3,516,245

PROVISIONS FOR LIABILITIES 8 (674,366 ) (674,366 )
NET ASSETS 2,833,646 2,841,879

CAPITAL AND RESERVES
Called up share capital 9 4 4
Fair value reserve 10 2,408,703 2,408,703
Retained earnings 424,939 433,172
SHAREHOLDERS' FUNDS 2,833,646 2,841,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Balance Sheet - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:




D C Cuff - Director



D Nelson - Director


GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024


1. COMPANY INFORMATION

Gladespring 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At 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.

Turnover
Turnover represents income from the granting of lease extensions.

Tangible fixed assets
Fixtures and fittings are valued at cost and depreciated on a straight line basis over ten years.

Computer equipment is valued at cost and depreciated on a straight line basis over three years.

Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

The methods and significant assumptions used to ascertain the fair value and any fair value movement included in the profit for the year are by comparison to similar properties being bought and sold in the surrounding area.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
A deferred tax provision has been included on the unrealised gain on the revaluation of the company's investment properties. This provision has been included within the fair value reserve, to offset the revaluation gain postings.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 3,551 5,706 9,257
DEPRECIATION
At 1 May 2023 3,551 4,644 8,195
Charge for year - 894 894
At 30 April 2024 3,551 5,538 9,089
NET BOOK VALUE
At 30 April 2024 - 168 168
At 30 April 2023 - 1,062 1,062

5. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 3,490,000
NET BOOK VALUE
At 30 April 2024 3,490,000
At 30 April 2023 3,490,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2001 136,258
Valuation in 2007 50,000
Valuation in 2010 244,047
Valuation in 2011 162,186
Valuation in 2014 617,600
Valuation in 2015 315,377
Valuation in 2018 81,120
Valuation in 2022 1,846,480
Valuation in 2023 (370,000 )
Cost 406,932
3,490,000

GLADESPRING LIMITED (REGISTERED NUMBER: 01210805)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,601 14,617
Prepayments and accrued income 3,918 1,594
19,519 16,211

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 7,605 56,328
Social security and other taxes - 2,270
Accruals and deferred income 14,101 9,163
21,706 67,761

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 674,366 674,366

Deferred
tax
£   
Balance at 1 May 2023 674,366
Balance at 30 April 2024 674,366

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

10. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 2,408,703