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Registration number: 02356254

Glen Vine Investments Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Glen Vine Investments Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Glen Vine Investments Limited

Company Information

Directors

Mr R J Dennehy

Mrs R Dennehy

Company secretary

Mrs R Dennehy

Registered office

Office 1 The Coach House
24-26 Station Road
Shirehampton
Bristol
BS11 9TX

Accountants

G W Jones & Co
Accountants
Office 1 The Coach House
24-26 Station Road
Shirehampton
Bristol
BS11 9TX

 

Glen Vine Investments Limited

(Registration number: 02356254)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

790,640

790,753

Current assets

 

Debtors

5

1,933

652,195

Cash at bank and in hand

 

360,289

352,515

 

362,222

1,004,710

Prepayments and accrued income

 

417

415

Creditors: Amounts falling due within one year

(315,786)

(386,114)

Net current assets

 

46,853

619,011

Total assets less current liabilities

 

837,493

1,409,764

Provisions for liabilities

(70,802)

(70,802)

Accruals and deferred income

 

(1,810)

(1,680)

Net assets

 

764,881

1,337,282

Capital and reserves

 

Called up share capital

6

2

2

Other reserves

285,321

285,321

Retained earnings

479,558

1,051,959

Shareholders' funds

 

764,881

1,337,282

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

 

Glen Vine Investments Limited

(Registration number: 02356254)
Abridged Balance Sheet as at 30 April 2024

.........................................
Mr R J Dennehy
Director

 

Glen Vine Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 1 The Coach House
24-26 Station Road
Shirehampton
Bristol
BS11 9TX

The principal place of business is:
Beaufort Court
1 Beaufort Street
Bristol
BS5 0SQ

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Glen Vine Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Fixtures, fittings and equipment

15% on reducing balance

Investment property

The company's properties are held for long term investment and are accounted for as follows :
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the non-distributable reserves unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account.
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be seperately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Glen Vine Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Glen Vine Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

790,000

11,830

4,500

806,330

At 30 April 2024

790,000

11,830

4,500

806,330

Depreciation

At 1 May 2023

-

11,423

4,154

15,577

Charge for the year

-

61

52

113

At 30 April 2024

-

11,484

4,206

15,690

Carrying amount

At 30 April 2024

790,000

346

294

790,640

At 30 April 2023

790,000

407

346

790,753

Included within the net book value of land and buildings above is £790,000 (2023 - £790,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's freehold property was revalued on 30 April 2024. An independent valuer was not involved.
The investment properties held by the company were revalued on 30 April 2024 by the company director ( R J Dennehy ) who is internal to the company. The basis of valuation was that of an open market valuation basis.
.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £312,508 (2023 - £312,508).

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Glen Vine Investments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Non-distributable reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(346,761)

(346,761)