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REGISTERED NUMBER: 07226894 (England and Wales)
























Glenfield Investments Limited

Financial Statements for the Year Ended 31st October 2024






Glenfield Investments Limited (Registered number: 07226894)

Contents of the Financial Statements
for the Year Ended 31st October 2024










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Glenfield Investments Limited

Company Information
for the Year Ended 31st October 2024







Directors: J Pickering
C Pickering





Registered office: 62 York Road
Wollaston
Wellingborough
NN29 7SG





Registered number: 07226894 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Glenfield Investments Limited (Registered number: 07226894)

Abridged Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 3 22,273 29,512

Current assets
Stocks 69,836 62,047
Debtors 4 467,954 322,166
Cash at bank 24,031 106,032
561,821 490,245
Creditors
Amounts falling due within one year 64,372 35,499
Net current assets 497,449 454,746
Total assets less current liabilities 519,722 484,258

Provisions for liabilities 2,270 2,670
Net assets 517,452 481,588

Capital and reserves
Called up share capital 1 1
Retained earnings 517,451 481,587
517,452 481,588

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Glenfield Investments Limited (Registered number: 07226894)

Abridged Balance Sheet - continued
31st October 2024


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

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2025 and were signed on its behalf by:





J Pickering - Director


Glenfield Investments Limited (Registered number: 07226894)

Notes to the Financial Statements
for the Year Ended 31st October 2024


1. 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.

Revenue recognition
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Glenfield Investments Limited (Registered number: 07226894)

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


1. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2. Employees and directors

The average number of employees during the year was 5 (2023 - 4 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st November 2023 88,238
Additions 799
At 31st October 2024 89,037
Depreciation
At 1st November 2023 58,726
Charge for year 8,038
At 31st October 2024 66,764
Net book value
At 31st October 2024 22,273
At 31st October 2023 29,512

4. Debtors: amounts falling due after more than one year
2024 2023
£    £   
Other debtors 445,988 290,139