Company registration number 01451681 (England and Wales)
GLEN CAWDOR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
GLEN CAWDOR LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GLEN CAWDOR LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,014,905
930,833
Investments
4
1,500,000
1,500,000
2,514,905
2,430,833
Current assets
Debtors
5
397,278
286,001
Cash at bank and in hand
645,607
742,894
1,042,885
1,028,895
Creditors: amounts falling due within one year
6
(460,515)
(278,082)
Net current assets
582,370
750,813
Total assets less current liabilities
3,097,275
3,181,646
Provisions for liabilities
(70,800)
(10,000)
Net assets
3,026,475
3,171,646
Capital and reserves
Called up share capital
2,400,000
2,400,000
Profit and loss reserves
626,475
771,646
Total equity
3,026,475
3,171,646

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GLEN CAWDOR LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 January 2025 and are signed on its behalf by:
Mr D G Calderhead
Director
Company registration number 01451681 (England and Wales)
GLEN CAWDOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Glen Cawdor Limited is a private company limited by shares incorporated in England and Wales. The registered office is Medway Bridge House, 1 - 8 Fairmeadow, Maidstone, Kent, ME14 1JP. The principal place of business is 11 - 12 Marine Parade, Brighton, East Sussex, BN2 1TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for management fees and rental income, and is shown net of VAT. Management fees and rental income are recognised in the period to which they relate.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold buildings (excluding land)
1% straight line
Leasehold land and buildings
2% straight line or over the term of the lease
Fixtures, fittings & equipment
15% straight line
Motor vehicles
25% reducing balance
1.4
Fixed asset investments

The investments, representing an interest in a subsidiary, are included at original cost.

1.5
Financial instruments

The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, and loans to group companies are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

1.6
Taxation

The tax expense represents the sum of the tax currently payable or receivable and deferred tax.

GLEN CAWDOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8
Leasing and hire purchase commitments

Rentals payable under operating leases, are charged to profit or loss on a straight line basis over the term of the lease.

1.9
Government grants

Government grants are recognised as income at the amount received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received. Grants under the Coronavirus Job Retention Scheme are recognised over the periods in which the related costs are incurred.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
7
GLEN CAWDOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
1,115,528
126,114
1,241,642
Additions
95,495
5,317
100,812
At 31 January 2024
1,211,023
131,431
1,342,454
Depreciation and impairment
At 1 February 2023
209,373
101,436
310,809
Depreciation charged in the year
9,818
6,922
16,740
At 31 January 2024
219,191
108,358
327,549
Carrying amount
At 31 January 2024
991,832
23,073
1,014,905
At 31 January 2023
906,155
24,678
930,833
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,500,000
1,500,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
194,151
25,231
Amounts owed by group undertakings
6,819
88,879
Other debtors
183,808
171,891
384,778
286,001
Deferred tax asset
12,500
-
0
397,278
286,001

Other debtors includes an amount of £26,015 (2023 - £nil) due to the company from the directors.

GLEN CAWDOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
35,091
43,089
Taxation and social security
53,728
2,537
Other creditors
371,696
232,456
460,515
278,082
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
179,998
251,074

The lease commitment relates to rents payable to 2025 and 2060 in respect of properties occupied by the company.

8
Related party transactions

At the year end, the amount due from Tulip Brighton Limited, a group undertaking, amounted to £6,819 (2023 - £88,879). The advances are interest free.

 

Other Debtors includes a loan due from Glen Calderhead Technologies PVT Limited amounting to £132,672 (2023 - £139,936). Mr D G Calderhead has an interest in this company. This loan is interest free and there are no fixed repayment terms.

9
Directors' transactions

During the year, the company made advances totalling £50,661 (2023 - £nil) to Mr D G Calderheard and Mr F De Luca, directors of the company. The advances attracted interest at HMRC approved rates and were repayable on demand. Repayments totalling £24,646 (2023 - £nil) were made in respect of these advances.

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