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
GLG Estates Ltd
Company Information
for the year ended 30 April 2024
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
GLG Estates Ltd
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
7,296
Creditors: amounts falling due within one year
(11,590)
Total assets less current liabilities
3,530,365
Creditors: amounts falling due after more than one year
(2,486,985)
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
GLG Estates Ltd
Notes to the Accounts
for the year ended 30 April 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 30 April 2024
3,459,939
66,096
3,526,035
Amounts falling due after more than one year
GLG Estates Ltd
Notes to the Accounts
for the year ended 30 April 2024
6
Creditors: amounts falling due within one year
2024
7
Creditors: amounts falling due after more than one year
2024
Loans from directors
2,425,007
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.