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REGISTERED NUMBER: 04198778 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Glyndwr Enterprises Ltd
Trading as
The Hand Hotel

Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Glyndwr Enterprises Ltd
Trading as The Hand Hotel

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Ms L Holland
Ms N Meltsanskaya
M A Powell





REGISTERED OFFICE: The Hand Hotel
Bridge Street
Llangollen
Clwyd
LL20 8PL





REGISTERED NUMBER: 04198778 (England and Wales)





ACCOUNTANTS: Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR

Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 1,951,467 1,976,900
1,951,468 1,976,901

CURRENT ASSETS
Stocks 20,790 13,500
Debtors 6 20,780 51,258
Cash at bank and in hand 225,666 414,062
267,236 478,820
CREDITORS
Amounts falling due within one year 7 305,543 353,294
NET CURRENT (LIABILITIES)/ASSETS (38,307 ) 125,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,913,161

2,102,427

CREDITORS
Amounts falling due after more than one
year

8

-

(226,556

)

PROVISIONS FOR LIABILITIES (333,062 ) (336,390 )
NET ASSETS 1,580,099 1,539,481

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 1,086,493 1,086,493
Retained earnings 493,506 452,888
SHAREHOLDERS' FUNDS 1,580,099 1,539,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Statement of Financial Position - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





Ms L Holland - Director


Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Glyndwr Enterprises Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1
At 31 July 2023 1

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 1,800,000 694,608 2,494,608
Additions - 1,297 1,297
At 31 July 2024 1,800,000 695,905 2,495,905
DEPRECIATION
At 1 August 2023 - 517,708 517,708
Charge for year - 26,730 26,730
At 31 July 2024 - 544,438 544,438
NET BOOK VALUE
At 31 July 2024 1,800,000 151,467 1,951,467
At 31 July 2023 1,800,000 176,900 1,976,900

Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2024 1,800,000 - 1,800,000
Cost - 695,905 695,905
1,800,000 695,905 2,495,905

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 17,380 29,595
Other debtors 1,686 7,934
Prepayments 1,714 13,729
20,780 51,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts (see note 9) - 41,489
Trade creditors 31,287 25,667
Tax 11,102 16,828
Social security and other taxes 6,493 7,303
VAT 47,905 40,070
Other creditors 7,887 14,803
Directors' current accounts 189,141 202,134
Accrued expenses 11,728 5,000
305,543 353,294

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 9) - 226,556

9. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 41,489

Amounts falling due between one and two years:
Bank loans - 226,556

Glyndwr Enterprises Ltd (Registered number: 04198778)
Trading as The Hand Hotel

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans - 268,045

The bank loans are secured by a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 1,086,493

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Glyndwr Enterprises Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glyndwr Enterprises Ltd for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glyndwr Enterprises Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glyndwr Enterprises Ltd and state those matters that we have agreed to state to the Board of Directors of Glyndwr Enterprises Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glyndwr Enterprises Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glyndwr Enterprises Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glyndwr Enterprises Ltd. You consider that Glyndwr Enterprises Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glyndwr Enterprises Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR


9 January 2025