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Registered number: 05189124










GLENTWORTH HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GLENTWORTH HOLDINGS LIMITED
REGISTERED NUMBER:05189124

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
196,767
196,767

Current assets
  

Debtors: amounts falling due within one year
 5 
238,579
238,579

Creditors: amounts falling due within one year
 6 
(75,572)
(37,572)

Net current assets
  
 
 
163,007
 
 
201,007

  

Net assets
  
359,774
397,774


Capital and reserves
  

Called up share capital 
 7 
69,668
69,668

Profit and loss account
  
290,106
328,106

  
359,774
397,774


For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L P D'Arcy
Director

Date: 28 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
GLENTWORTH HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Restated at 1 April 2022
69,668
319,106
388,774



Profit for the year
-
9,000
9,000



At 1 April 2023
69,668
328,106
397,774


Contributions by and distributions to owners

Dividends: Equity capital
-
(38,000)
(38,000)


At 31 March 2024
69,668
290,106
359,774


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Glentworth Holdings Limited is a private company, limited by shares, registered and incorporated in England within the United Kingdom. The address of the registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the function currency of the Company and rounded to the nearest £1.
The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the financial statements on a going concern basis as the shareholders have committed to providing financial support as required. The going concern basis is considered by the directors to be appropriate due to the willingness and ability of the Company's investors to continue to support the Company for at least 12 months from the date of approval of the financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 3

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3

Page 4

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
239,767



At 31 March 2024

239,767



Impairment


At 1 April 2023
43,000



At 31 March 2024

43,000



Net book value



At 31 March 2024
196,767



At 31 March 2023
196,767

The Company's investment in subsidiary companies represents the cost of acquisitions of the whole of the ordinary share capital of Glentworth Properties (Wokingham), which owns and manages property, and Glentworth Precision Engineering (UK) Limited, which is an engineering company.

Page 5

 
GLENTWORTH HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
238,579
238,579



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
64,600
26,600

Other creditors
10,972
10,972

75,572
37,572



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



232,228 (2023 - 232,228) Ordinary 'A' shares of £0.10 each
23,222.80
23,222.80
232,227 (2023 - 232,227) Ordinary 'B' shares of £0.10 each
23,222.70
23,222.70
232,227 (2023 - 232,227) Ordinary 'C' shares of £0.10 each
23,222.70
23,222.70

69,668.20

69,668.20



8.Guarantees and financial commitments

At the year-end, the assets of the Company are secured against a bank loan in the subsidiary company Glentworth Properties (Wokingham) Limited.  At the year end the amount outstanding was £160,400 (2023: £228,004).


9.


Related party transactions

The Company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

Page 6