Company registration number 3089409 (England and Wales)
GLAREWAYS (NEASDEN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GLAREWAYS (NEASDEN) LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
GLAREWAYS (NEASDEN) LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
39,500
39,500
Current assets
Trade and other receivables
5
1,160
1,348
Cash and cash equivalents
4,691
8,922
5,851
10,270
Current liabilities
6
(34,503)
(39,503)
Net current liabilities
(28,652)
(29,233)
Net assets
10,848
10,267
Equity
Called up share capital
7
53,333
53,333
Share premium account
3,867
3,867
Retained earnings
(46,352)
(46,933)
Total equity
10,848
10,267
For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Mr Peter Greenyer
Director
Company registration number 3089409 (England and Wales)
GLAREWAYS (NEASDEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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1
Accounting policies
Company information
Glareways (Neasden) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hangar 513, Biggin Hill Airport, Westerham, Kent, TN16 3BN.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is the amount derived from the provision of goods and services falling within the company's ordinary activities. This represents contributions from members of the company to finance overhead costs.
1.3
Property, plant and equipment
At the year end, the director valued the company's assets and it was considered that the valuation attributed to assets at 30th June 2011 remained suitable at the Balance Sheet date.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.4
Deferred tax
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for the tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
GLAREWAYS (NEASDEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
54,554
Depreciation and impairment
At 1 July 2023 and 30 June 2024
15,054
Carrying amount
At 30 June 2024
39,500
At 30 June 2023
39,500
Plant and machinery was revalued by the director in 2011 having due regard to its market value. As a result the value of the equipment was deemed as £35,000. The director considers this valuation to remain applicable as at 30th June 2023 and is included within the above carrying value together with additions in the year that are deemed to have held their value during the period.
.
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Other receivables
1,160
1,348
6
Current liabilities
2024
2023
£
£
Other payables
34,503
39,503
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
53,333
53,333
53,333
53,333
GLAREWAYS (NEASDEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Called up share capital
(Continued)
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