Glenmere Timber Property Ltd |
Registered number: |
13290149 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Stocks |
|
|
6,034,625 |
|
|
6,190,000 |
Debtors |
3 |
|
444,693 |
|
|
158,892 |
Cash at bank and in hand |
|
|
10,000 |
|
|
- |
|
|
|
6,489,318 |
|
|
6,348,892 |
|
Creditors: amounts falling due within one year |
4 |
|
(91,343) |
|
|
(38,950) |
|
Net current assets |
|
|
|
6,397,975 |
|
|
6,309,942 |
|
Net assets |
|
|
|
6,397,975 |
|
|
6,309,942 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
6,397,974 |
|
|
6,309,941 |
|
Shareholders' funds |
|
|
|
6,397,975 |
|
|
6,309,942 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr K N J Robinson |
Director |
Approved by the board on 14 November 2024 |
|
Glenmere Timber Property Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Rents received - Rents received are accounted for on a straight line basis over the term of the lease. Property sales - Sales are accounted for on contract completion. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
444,693 |
|
158,892 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
52,000 |
|
22,000 |
|
Taxation and social security costs |
39,343 |
|
16,949 |
|
Other creditors |
- |
|
1 |
|
|
|
|
|
|
91,343 |
|
38,950 |
|
|
|
|
|
|
|
|
|
|
5 |
Controlling party |
|
|
The company is under the control of Glenmere Timber Property Holding Limited a company incorporated in England who own 100% of the issued share capital. Its registered office is Hoptons Sawmills, Gores Lane, Market Harborough, Leicestershire. LE16 8AJ. |
|
|
6 |
Other information |
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|
Glenmere Timber Property Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Ground Floor, 15 The Point |
|
Rockingham Road |
|
Market Harborough |
|
Leicestershire |
|
LE16 7QU |