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REGISTERED NUMBER: 11709956 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Glitter Ball Properties Limited

Glitter Ball Properties Limited (Registered number: 11709956)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Glitter Ball Properties Limited (Registered number: 11709956)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 891 1,280
Investment property 5 6,515,000 2,550,000
6,515,891 2,551,280

CURRENT ASSETS
Debtors 6 11,925 1,217
Cash at bank 29,520 16,857
41,445 18,074
CREDITORS
Amounts falling due within one year 7 (435,165 ) (996,092 )
NET CURRENT LIABILITIES (393,720 ) (978,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,122,171

1,573,262

CREDITORS
Amounts falling due after more than one year 8 (2,228,574 ) (1,005,000 )

PROVISIONS FOR LIABILITIES (96,072 ) (96,072 )
NET ASSETS 3,797,525 472,190

CAPITAL AND RESERVES
Called up share capital 808 100
Share premium 3,342,397 -
Fair value reserve 10 359,133 359,133
Retained earnings 95,187 112,957
3,797,525 472,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Glitter Ball Properties Limited (Registered number: 11709956)

Balance Sheet - continued
31 March 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 1 October 2024 and were signed on its behalf by:





Jason Szlezinger - Director


Glitter Ball Properties Limited (Registered number: 11709956)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Glitter Ball Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11709956

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

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" and the Companies Act 2006.

Turnover
Turnover represents the total invoice value of rent receivable during the year, excluding VAT where it is charged.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Glitter Ball Properties Limited (Registered number: 11709956)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 2,795
DEPRECIATION
At 1 April 2023 1,515
Charge for year 389
At 31 March 2024 1,904
NET BOOK VALUE
At 31 March 2024 891
At 31 March 2023 1,280

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,550,000
Additions 3,965,000
At 31 March 2024 6,515,000
NET BOOK VALUE
At 31 March 2024 6,515,000
At 31 March 2023 2,550,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 89,723
Valuation in 2023 365,482
Cost 6,059,795
6,515,000

The investment properties were valued on a fair value basis on 31 March 2024 by the directors .

Glitter Ball Properties Limited (Registered number: 11709956)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,925 -
Other debtors - 1,217
11,925 1,217

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,247 -
Trade creditors 6,195 120
Amounts owed to related party 6,303 5,450
Taxation and social security 307 6,534
Other creditors 411,113 983,988
435,165 996,092

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,228,574 1,005,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,239,593 1,005,000

Bank loans are secured on Investment Properties held within the company.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 359,133