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Company Registration No. 10096870 (England and Wales)
GLG Estates Ltd Unaudited accounts for the year ended 30 April 2024
GLG Estates Ltd Unaudited accounts Contents
Page
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GLG Estates Ltd Company Information for the year ended 30 April 2024
Director
Gintaras Laukys
Company Number
10096870 (England and Wales)
Registered Office
Flat 7 12 Eugene Street St. Judes Bristol Avon BS5 0TN England
Accountants
Word Consulting Ltd INNOVATION CENTRE MEDWAY Chatham Kent ME5 9FD
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GLG Estates Ltd Statement of financial position as at 30 April 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
3,526,035 
Current assets
Debtors
8,624 
Cash at bank and in hand
7,296 
15,920 
Creditors: amounts falling due within one year
(11,590)
Net current assets
4,330 
Total assets less current liabilities
3,530,365 
Creditors: amounts falling due after more than one year
(2,486,985)
Net assets
1,043,380 
Capital and reserves
Called up share capital
1 
Revaluation reserve
1,132,981 
Profit and loss account
(89,602)
Shareholders' funds
1,043,380 
For the year ending 30 April 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 October 2024 and were signed on its behalf by
Gintaras Laukys Director Company Registration No. 10096870
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GLG Estates Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
GLG Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 10096870. The registered office is Flat 7, 12 Eugene Street, St. Judes, Bristol, Avon, BS5 0TN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at historical cost, less accumulated depreciation and any impairment losses. Depreciation is provided to allocate the cost of assets, less their estimated residual values, over their expected useful lives on a straight-line basis, except for land, which is not depreciated.
Land & buildings
50 years useful life
Motor vehicles
Depreciated at 20%
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
3,045,232 
84,377 
3,129,609 
Additions
589,719 
- 
589,719 
At 30 April 2024
3,634,951 
84,377 
3,719,328 
Depreciation
At 1 May 2023
126,895 
1,406 
128,301 
Charge for the year
48,117 
16,875 
64,992 
At 30 April 2024
175,012 
18,281 
193,293 
Net book value
At 30 April 2024
3,459,939 
66,096 
3,526,035 
5
Debtors
2024 
£ 
Amounts falling due after more than one year
Other debtors
8,624 
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GLG Estates Ltd Notes to the Accounts for the year ended 30 April 2024
6
Creditors: amounts falling due within one year
2024 
£ 
VAT
11,590 
7
Creditors: amounts falling due after more than one year
2024 
£ 
Bank loans
61,978 
Loans from directors
2,425,007 
2,486,985 
The Director Loan Account balance of £2,425,006.82, included under "Creditors - amounts falling due after one year," is an unsecured and interest-free loan. There are no fixed repayment terms, and repayment is at the discretion of the company and the director. No specific assets or security have been pledged against this loan.
8
Average number of employees
During the year the average number of employees was 3.
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