Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-3102023-09-01falseThe principal activity of the Company during the year continued to be as a provider of commercial and residentialrental property.0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01620258 2023-09-01 2024-08-31 01620258 2022-09-01 2023-08-31 01620258 2024-08-31 01620258 2023-08-31 01620258 2022-09-01 01620258 c:Director2 2023-09-01 2024-08-31 01620258 d:Buildings 2023-09-01 2024-08-31 01620258 d:Buildings 2024-08-31 01620258 d:Buildings 2023-08-31 01620258 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01620258 d:MotorVehicles 2023-09-01 2024-08-31 01620258 d:MotorVehicles 2024-08-31 01620258 d:MotorVehicles 2023-08-31 01620258 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01620258 d:FurnitureFittings 2023-09-01 2024-08-31 01620258 d:FurnitureFittings 2024-08-31 01620258 d:FurnitureFittings 2023-08-31 01620258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01620258 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01620258 d:FreeholdInvestmentProperty 2023-09-01 2024-08-31 01620258 d:FreeholdInvestmentProperty 2024-08-31 01620258 d:CurrentFinancialInstruments 2024-08-31 01620258 d:CurrentFinancialInstruments 2023-08-31 01620258 d:Non-currentFinancialInstruments 2024-08-31 01620258 d:Non-currentFinancialInstruments 2023-08-31 01620258 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01620258 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01620258 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01620258 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01620258 d:ShareCapital 2024-08-31 01620258 d:ShareCapital 2023-08-31 01620258 d:RevaluationReserve 2024-08-31 01620258 d:RevaluationReserve 2023-08-31 01620258 d:InvestmentPropertiesRevaluationReserve 2024-08-31 01620258 d:InvestmentPropertiesRevaluationReserve 2023-08-31 01620258 d:RetainedEarningsAccumulatedLosses 2024-08-31 01620258 d:RetainedEarningsAccumulatedLosses 2023-08-31 01620258 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 01620258 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 01620258 c:OrdinaryShareClass1 2023-09-01 2024-08-31 01620258 c:OrdinaryShareClass1 2024-08-31 01620258 c:FRS102 2023-09-01 2024-08-31 01620258 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 01620258 c:FullAccounts 2023-09-01 2024-08-31 01620258 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01620258 d:Subsidiary1 2023-09-01 2024-08-31 01620258 d:Subsidiary1 1 2023-09-01 2024-08-31 01620258 5 2023-09-01 2024-08-31 01620258 6 2023-09-01 2024-08-31 01620258 d:FreeholdInvestmentProperty d:PreviouslyStatedAmount 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01620258









INTERGLOW LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
INTERGLOW LIMITED
REGISTERED NUMBER: 01620258

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
950,939
977,041

Investments
 5 
100
100

Investment property
 6 
2,743,805
2,715,837

  
3,694,844
3,692,978

CURRENT ASSETS
  

Debtors due within 1 year
 7 
5,056
32,988

Bank and cash balances
  
91,976
55,304

  
97,032
88,292

Creditors: amounts falling due within one year
 8 
(58,181)
(31,627)

NET CURRENT ASSETS
  
 
 
38,851
 
 
56,665

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,733,695
3,749,643

Creditors: amounts falling due after more than one year
 9 
(75,309)
(89,775)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(81,583)
(81,583)

  
 
 
(81,583)
 
 
(81,583)

NET ASSETS
  
3,576,803
3,578,285


CAPITAL AND RESERVES
  

Called up share capital 
 11 
25,750
25,750

Revaluation reserve
  
368,720
375,166

Investment property reserve
  
758,321
758,321

Profit and loss account
  
2,424,012
2,419,048

  
3,576,803
3,578,285


Page 1

 
INTERGLOW LIMITED
REGISTERED NUMBER: 01620258
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 profit and loss account 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: 




Mr M J Webb
Director

Date: 29 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

Interglow Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Shepreth Road, Fowlmere, Royston, Hertfordshire, SG8 7TQ.
The Company's functional and presentational currency is GBP.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover from rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15%-and 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 5

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


TANGIBLE FIXED ASSETS





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 September 2023
980,000
47,533
27,401
1,054,934


Additions
-
-
3,242
3,242



At 31 August 2024

980,000
47,533
30,643
1,058,176



DEPRECIATION


At 1 September 2023
39,200
13,864
24,829
77,893


Charge for the year on owned assets
19,600
8,417
1,327
29,344



At 31 August 2024

58,800
22,281
26,156
107,237



NET BOOK VALUE



At 31 August 2024
921,200
25,252
4,487
950,939



At 31 August 2023
940,800
33,669
2,572
977,041



If the freehold property had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
657,712
657,712

Accumulated depreciation
(105,232)
(92,078)

NET BOOK VALUE
552,480
565,634

Page 6

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 September 2023
100



At 31 August 2024
100


SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Principal activity

Class of shares

Holding

Interglow (Contracts) Limited
Supply and installation of heat conversion products.
Ordinary
100%







6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 September 2023
2,715,837


Additions at cost
27,968



AT 31 AUGUST 2024
2,743,805

The valuations were made by the directors based on professional advice received, on an open market value for existing use basis.




Page 7

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
-
625

Amounts owed by group undertakings
-
27,781

Prepayments and accrued income
5,056
4,582

5,056
32,988



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
14,464
14,464

Trade creditors
7,691
3,091

Amounts owed to group undertakings
32,583
-

Obligations under finance lease and hire purchase contracts
-
11,914

Other creditors
312
-

Accruals and deferred income
3,131
2,158

58,181
31,627


Included within bank loans is a loan which is secured on the company's investment properties. The loan is repayable across a five-year term on a quarterly basis. Interest is levied at 3% per annum above LIBOR.


9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
75,309
89,775

75,309
89,775


Included within bank loans is a loan which is secured on the company's investment properties. The loan is repayable across a five-year term on a quarterly basis. Interest is levied at 3% per annum above LIBOR.

Page 8

 
INTERGLOW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
81,583
81,583



AT END OF YEAR
81,583
81,583

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property unrealised gains
81,583
81,583


11.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



25,750 Ordinary shares of £1 each
25,750
25,750


 
Page 9